Central bank Current Affairs, GK & News

Croatia’s switch to Euro

Croatia has taken two major steps towards further integration with the European Union (EU) by adopting the euro and joining the Schengen zone. The country officially became the 20th member of the eurozone on January 1st, and the removal of land border controls with neighboring Slovenia and Hungary marks its inclusion in the Schengen zone. ..

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Supreme Court Verdict on Demonetisation Case

The Supreme Court of India has upheld the 2016 decision of the Narendra Modi government to demonetize currency notes of INR 500 and INR 1,000 denominations. The decision, which was taken by a 4:1 majority of the Constitution Bench, stated that the central government’s notification of November 8, 2016 was valid and met the test ..

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India’s Holdings of US Government Securities Reached Record High

In February, India’s holdings of US government securities reached 177.5 billion USD- an increase of 33.2 billion USD in one year. Top Countries Holding US Government Securities The US Treasury Department had released data on foreign holdings of its government securities on a country-wise basis. Japan is the largest holder of its securities (1.268 trillion USD). ..

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Reserve Bank of India (RBI) cuts its key lending rate

As per 4th bi – monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India (RBI) has cut  its key lending rate — repo rate – by 25 basis points to 5.15% in an effort to boost a sluggish economy as inflation remains in a comfortable zone.  This is the 5th consecutive rate cut ..

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What could be implications of RBI’s mandate to link lending rates to an external benchmark?

The Reserve Bank of India, in a recent announcement, has mandated the banks to link their lending rates for loans to an external benchmark. This has made it mandatory for the banks to pass on the benefits of rate cuts on the loans to the banks immediately. Significance of the RBI’s Announcement This is significant ..

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Merger of the 10 Public Sector Banks

In a slew of measures announced by the Finance Minister of India, Nirmala Sitharaman on 30th August, 2019, to take the country out of economic doldrums, one particular step of the government has stood out. This was the planned merger of 10 public sectors into 4 banks. The anchor banks for this merger will be ..

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