RBI’s Surplus Transfer

The Reserve Bank of India has transferred a surplus of Rs. 1.76 lakh crores to the Indian Government. This payment, which is equal to 1.25% of the Indian GDP (in nominal rates for 2018-19) aims to provide some breathing space ..

Housing Finance Companies to be treated as NBFCs

The Reserve Bank of India (RBI) has issued a notification stating that housing finance companies (HFCs) will be treated as one of the categories of Non-Banking Financial Companies (NBFCs) for regulatory purposes and it will come under its direct oversight. ..

6-member Monetary Policy Committee of RBI reduces repo rate

On June 6, the 6-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 5.75% from 6.0% with immediate effect in its 2nd bi-monthly monetary policy statement for ..

RBI allows modern currency chests to hike service charges

The Reserve Bank of India (RBI) has allowed large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of Rs. 5 per packet of 100 pieces to a higher rate ..

RBI proposed strict rules to open and run current accounts of corporate borrowers

Reserve Bank of India (RBI) would propose strict rules on opening and operating current accounts of corporate borrowers to prevent the diversion of funds. RBI had notified that the banks with collection accounts will have to transfer funds to the ..

Bimal Jalan committee to review Economic Capital Framework (ECF) for RBI

The six-member expert committee led by former RBI governor Bimal Jalan was appointed on December 26, 2018 to review the Economic Capital Framework (ECF) for the Reserve Bank of India (RBI). It is in news recently because the Jalan panel ..