Monetary policy of India Current Affairs, GK & News
RBI Monetary Policy Committee Meeting – Highlights
The MPC has lowered the GDP forecast and increased the repo rate by 50 basis points. Key Highlights The Reserve Bank of India (RBI) has increased the repo rate by 50 basis points to 5.90 per cent, which is a three-year high. This makes funding expensive for existing and new borrowers. For existing borrowers, all ..
Month: current affairs - september, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: Indian Economy • Monetary Policy • Monetary Policy Commitee • Monetary Policy Committee • Monetary Policy Committee (MPC) • Monetary policy of India • RBI monetary policy • Reserve Bank of India • Reserve Bank of India (RBI) • Trends in Indian Economy
RBI Monetary policy committee (MPC) Meeting- Highlights
The Monetary Policy Committee (MPC) held meeting on August 5, 2022. On the basis of assessment of current and evolving macroeconomic situation, MPC has decided to: Hike policy repo rate by 50 basis points, under liquidity adjustment facility (LAF). Repo rate now stands at 5.40%. Adjust Standing deposit facility (SDF) rate to 5.15%, marginal standing ..
Month: Current Affairs - August, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: CPI inflation • Monetary Policy • Monetary Policy Committee (MPC) • Monetary policy of India • Repo Rate • Reserve Bank of India (RBI)
RBI formulated new regulations framework for Umbrella entity for retail payments
The Reserve Bank of India formulated a new framework for the establishment of a new umbrella entity for retail payments. According to RBI, the entity will be handed over the responsibility of setting up, managing, and operating new payment systems in the retail space following the same way as the National Payments Corporation of India ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs - 2022
Topics: Monetary policy of India • National Payments Corporation of India • Payments • Reserve Bank of India • Retail Banking
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 ..
Topics: Central bank • Economy • Finance • Finance in India • Inflation • Interest Rates • Monetary Policy • Monetary policy of India • Money • Official bank rate • Repurchase agreement • Reserve Bank of India
Major Provisions of Reserve Bank of India Act, 1934
Reserve Bank of India Act, 1934 was enacted on 6 March, 1934 to constitute the Reserve Bank of India. This law commended from April 1, 1935. It provides framework for the supervision of banks and other related matters. Important Provisions Section-3 Section 3 of the RBI act provides for establishment of Reserve Bank of India ..
Topics: Monetary policy of India • Open market operation • Repurchase agreement • Reserve Bank of India • Reserve Bank of India Act • Scheduled Banks
CRR should be reduced: C Rangarajan
The Prime Minister’s Economic Advisory Council Chairman, C Rangarajan, has opined to reduce the use of CRR and suggested that it should be used only in extraordinary circumstances. As per him, the need for using it reduces with the option of Open Market Operations (OMOs) already in place. Cash Reserve Ratio which is abbreviated as ..
Month: Current Affairs - September, 2012
Topics: Central bank • Economy • Financial services • Interest rate • Market liquidity • Monetary base • Monetary Policy • Monetary policy of India • Money • Money Supply • Open market operation • Repurchase agreement