RBI imposes Rs 2 crore penalty on SBI

The Reserve Bank of India (RBI) has announced on March 16, 2021 that it has fined India’s largest lending bank “State Bank of India (SBI)” with Rs 2 crore after it failed to follow the regulations in payment of remuneration ..

Month: Current Affairs - March, 2021

Budget 2021: New Asset Reconstruction and Asset Management Company to be set up

The finance Minister of India, Nirmala Sitharaman, has announced during the presentation of the Union Budget 2021 that a new asset reconstruction and asset management company will be set up in India. Key facts The new Asset reconstruction and asset ..

Month: Current Affairs - February, 2021

RBI Financial Stability Report

The Reserve Bank of India recently released to the financial stability report for December 2020. This is the 22nd issue of financial stability report of the apex bank. It is released twice a year. Key Findings of the Financial Stability ..

Month: Current Affairs - January, 2021

Jharkhand’s Farm Loan Waiver Scheme

The Jharkhand Cabinet recently approved a loan waiver up to Rs 50,000 for 9.07 lakh farmers. The cabinet has earmarked Rs 2,000 crores for the purpose. Key Highlights According to the State Government of Jharkhand, there are 12.93 lakh farmers ..

Month: Current Affairs - December, 2020

Why did RBI impose moratorium on Lakshmi Vilas Bank?

The Reserve Bank of India recently imposed a moratorium on Lakshmi Vilas Bank of India for a period of thirty days. The apex bank has also drafted a scheme for the merger of the bank. Under the scheme, the Lakshmi ..

Month: Current Affairs - November, 2020

Stressed Asset Fund for MSMEs

The U.K. Sinha committee constituted by the Reserve Bank of India (RBI) to study the problems faced by MSMEs has recommended constituting stressed asset fund for domestic micro, small and medium enterprises (MSMEs) as a relief to small businesses hurt ..