RBI Act 1934: Current Affairs, GK & News - 2020-2021

Rajeshwar Rao appointed the new Deputy Governor of RBI

Published: October 7, 2020

On October 7, 2020, the Government of India appointed M Rajeshwar Rao as the new Deputy Governor of Reserve Bank of India. The post fell vacant in March 2020 when the previous Deputy Governor N R Vishwanathan resigned citing health issues before his term completed. His term completes in September 2020. Highlights The Deputy Governor ..

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GoI appoints Monetary Policy Committee Members

Published: October 6, 2020

On October 5, 2020, the Government of India appointed economists Jayant R Varma, Shashank Bhide and Ashima Goyal as members of Monetary Policy Committee (MPC). Their appointments were cleared by the Appointment Committee of the Cabinet chaired by PM Modi. The current MPC was set up by the GoI in 2016 following the finalisation of ..

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Ways and Means Advances

Published: April 18, 2020

The RBI announced a 60% increase in WMA limit over the March levels for state governments to enable COVID-19 containment and mitigation efforts and plan their market borrowings. About WMA Ways and Means Advances or WMA is a mechanism used by RBI to help states overcome temporary mismatches in their receipts and payments. It is ..

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Trends in Food Inflation and Monetary Policy

Published: June 3, 2019

The reduced growth rate and higher rates of unemployment have led to an expectation that the Reserve Bank of India (RBI) would cut the interest rates in the upcoming monetary policy review. Under the Section 45ZA of the RBI Act 1934, the central government, in consultation with the Reserve Bank had notified the consumer inflation ..

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