RBI: Cuts repo rate to 4.4%; CRR to 3%; 3-month moratorium allowed on all loans

On March 27, 2020, the Reserve Bank of India announced series of measures to counter economic slowdown caused due to COVID-19. The Central bank advanced its Monetary Policy Committee meet due to COVID-19 pandemic. This was the 7th Bi-Monthly Monetary Policy Statement of the RBI for the financial year 2019-20. The RBI measures introduced is ..

Month: Current Affairs - March, 2020

Category: Economy & Banking Current Affairs

Topics: Corona virus • COVID-19 • Economic slow down • liquidity • RBI • RBI Governor • RBI Governor Shaktikanta Das • Repo Rate • Reverse Repo Rate

RBI Deputy Governor Viral Acharya quits before his term ends

Viral Acharya Deputy Governor of Reserve Bank of India (RBI) has resigned from his position 6 months before the end of his term citing reason as unavoidable personal circumstances. Acharya, who joined RBI on 23 January 2017 for a three-year term, was youngest deputy governor of RBI post economic liberalisation. He may now return to ..

Month: Current Affairs - June, 2019

Category: Economy & Banking Current Affairs

Topics: B.P. Kanungo • Bimal Jalan Committee • deputy governor • M.K. Jain • N. S. Vishwanathan • New York University Stern School of Business • RBI Governor Shaktikanta Das • Reserve Bank of India • Urjit Patel • Viral Acharya • Viral Acharya Rresigns RBI

RBI Monetary Policy review: Repo rate lowest since 2010

The Reserve bank of India (RBI) in its bi-monthly monetary policy review reduced repo rate by 25 basis points to 5.75% from current 6.0% with immediate effect. This is RBI’s third cut this year and has reduced Repo rate at lowest since 2010. Key Highlights With Repo Rate adjusted to 5.75%, consequently Reverse Repo Rate ..

Month: Current Affairs - June, 2019

Category: Economy & Banking Current Affairs

Topics: Bank rate • Cash Reserve Ratio • CRR • Digital India • GDP Growth Rate • LAF • Liquid Adjustment Facility • Marginal Standing Facility • Monetary Policy Committee • MSF • NEFT • RBI Bi-monthly Monetary Policy Review • RBI Governor Shaktikanta Das • Repo Rate • Reserve Bank of India • Retail inflation forecast • Reverse Repo Rate • RR • RTGS

Nilekani Panel suggests measures to encourage Digital Payments

The Reserve Bank of India (RBI) appointed Nandan Nilekani committee has submitted its suggestions on measures to encourage digital payments in India to RBI Governor Shaktikanta Das. Background: In January 2019 the RBI had set up the five-member panel under the chairmanship of Nandan Nilekani to provide suggestions on deepening digital payments with a view ..

Month: Current Affairs - June, 2019

Category: Economy & Banking Current Affairs

Topics: BHIM • Digital Facilitation Point • Direct Benefit Transfers • Nandan Nilekani • NEFT • Nilekani Panel • PMJDY • POS • Pradhan Mantri Jan Dhan Yojana • RBI Governor Shaktikanta Das • Reserve Bank of India • RTGS • RuPay • UPI