The Union government has set up a steering committee to consider various issues relating to the development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship. The move is a follow up to the announcement made by Finance Minister Arun Jaitley in his Budget speech ..
Finance: GK, General Studies and Current Affairs
RBI raises currency derivative trade limit to how much amount for residents and foreign portfolio investors
The Reserve Bank of India (RBI) has raised exposure limit under Exchange Traded Currency Derivatives (ETCD) trading for residents and foreign portfolio investors (FPIs) to $100 million across all currency pairs involving the Indian rupee. The RBI’s decision to raise the limit will help entities engaged in forex transactions to maintain their currency risks in ..
India signs amount of 2nd loan agreement with New Development Bank (NDB) for Rajasthan Water Project
India has signed the second loan agreement of $100 million with New Development Bank (NDB) for Rajasthan Water Sector Restructuring Project for Desert Areas on 13th February 2018 at New Delhi. This is the first tranche loan approved by the NDB under the Multi Tranche Financing Facility of $345 Million for this project. The project ..
Biswamohan Mahapatra has been appointed as non-executive chairman of the National Payments Corporation of India (NPCI) for a period of two years, with effect from February 8, 2018. He succeeded B Sambamurthy, who was the interim chairman of the NPCI board. Apart from him, Dilip Asbe is the Managing Director & CEO of the organisation.
In the 6th Bi-monthly Monetary policy statement for 2017-18, the Reserve Bank of India (RBI) has kept the key interest rate “repo rate” unchanged at 6% and reverse repo at 5.75%. Also, the Marginal Standing Facility (MSF) rate and the Bank Rate kept at 6.25%. The decision of the Monetary Policy Committee (MPC) is consistent ..