Banks Board Bureau recommends 22 GMs for elevation as executive directors at PSU banks

Banks Board Bureau (BBB) has recommended 22 general managers to be elevated as executive directors at the various public sector banks (PSBs). This is the first major exercise undertaken by reconstituted BBB, headed by newly appointed Chairman BP Sharma, former ..

Month: Current Affairs - June, 2018

RBI eases investment norms for foreign portfolio investors (FPIs) in debt

The Reserve Bank of India (RBI) has eased investment norms for foreign portfolio investors (FPIs) in debt, especially into individual large corporates. This move is aimed at attracting more overseas flows and thereby help to arrest recent fall in rupee ..

Month: Current Affairs - June, 2018

RBI to set up Public Credit Registry (PCR) to check loan defaults

In a bid to check loan defaults, the Reserve Bank of India (RBI) has considered the recommendations of YM Deosthalee-headed High Level Task Force and will set up a Public Credit Registry (PCR) in a modular and phased manner. The ..

RBI’s Monetary Policy Review: RBI Hikes Repo Rate to 6.25%

On June 6, 2018, the six members Monetary Policy Committee (MPC) of RBI has decided to hike Repo (short term lending rate) to 6.25% from 6.00%. As per the second Bi-monthly Monetary Policy Statement, the current policy rates of RBI ..

Month: Current Affairs - June, 2018

Reserve Bank of India (RBI) launches 2018 Financial Literacy Week

On June 4, the Reserve Bank of India (RBI) has launched Financial Literacy Week (FLW-2018) across the country with Customer Protection as its main theme. The event will focus on creating awareness among customers of banks about financial products and ..

Financial Literacy Week starts with theme ‘Customer Protection’

Reserve Bank of India is conducting Financial Literacy Week from June 4 on the theme ‘Customer Protection’. The week-long event is to focus on creating awareness among customers of banks. According to RBI, the event will emphasise on awareness about ..

Month: Current Affairs - June, 2018

RBI appoints Sudha Balakrishnan as its first Chief Financial Officer

Reserve Bank of India (RBI) has appointed Sudha Balakrishnan as the first Chief Financial Officer (CFO). She will be the 12th executive director of the RBI and will have tenure of three years. Balakrishnan is chartered accountant by profession. Prior ..

Month: Current Affairs - May, 2018

RBI tweaks norms for setting up of IFSC Banking Units

The Reserve Bank of India (RBI) has modified norms for setting up International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs. In April 2015, RBI had formulated scheme for setting up of IFSC IBUs by banks in ..

Month: Current Affairs - May, 2018

RBI puts Dena Bank under prompt corrective action

Reserve Bank of India (RBI) has put state-run lender Dena Bank under prompt corrective action (PCA) framework. It has barred Dena Bank from extending fresh credit in view of deteriorating financial health due to mounting non-performing assets (NPAs) and mounting ..

Month: Current Affairs - May, 2018

Philippines hosts 12th informal meeting of SAARC finance Ministers

The 12th informal meeting of SAARC Finance Ministers was held in Manila, Philippines on May 4, on the sidelines of the 51st Annual Meeting of Asian Development Bank (ADB). The meeting was attended by the Finance Ministers / Heads of ..