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Lok Sabha passes Banking Regulation (Amendment) Bill, 2017

The Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2017 by voice vote. It will replace the Banking Regulation (Amendment) Ordinance, 2017. The bill seeks to amend...

August 3, 2017

RBI cuts repo rate by 25 bps to 6%

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has reduced short-term lending rate, or repo rate, by 25 basis points to 6%. It was...

August 2, 2017

NPCI gets RBI nod to operate Bharat Bill Payment System

The National Payments Corporation of India (NPCI) has received final nod from the Reserve Bank of India (RBI) to function as the Bharat Bill Payment Central Unit (BBPCU)...

July 29, 2017

India's forex reserves at record-high of $386.53 billion

According to RBI, India’s foreign exchange (Forex) reserves have increased by $4.007 billion to touch a record high of $386.539 billion in the week that ended 30th June...

July 10, 2017

RBI limits Customer liability in Online Banking

RBI has issued directions on ‘Customer Protection – Limiting Liability of Customers in unauthorised Electronic Banking Transactions’. RBI has issued the revised directions amidst a recent increase in customer grievances related to unauthorised transactions. Salient Highlights...

July 7, 2017

RBI: Fiscal Deficit of States Soars to Rs 4.93 trillion in FY16

According to ‘Handbook of Statistics on States 2016-17‘, the gross fiscal deficits of all the states have soared to Rs 4,93,360 crore in fiscal 2016 from Rs 18,790 crore...

June 24, 2017

Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers

The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. Salient Highlights The objective...

June 14, 2017

RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings

RBI’s Internal Advisory Committee (IAC) has identified 12 bank accounts constituting nearly 25% of the gross bad loans for immediate referral and resolution under the bankruptcy law. Each of the...

June 14, 2017

RBI to release New batch of Rs 500 Currency Notes

Reserve Bank of India has said that it will release new batch of Rs 500 currency notes whose design will be similar in all respects to the Rs...

June 13, 2017

India's Forex Reserves reach Life Time High of $381.167 billion

According to RBI, India’s foreign exchange (Forex) reserves have increased by $2.404 billion to touch a lifetime high of $381.167 billion in the week that ended on June 2. The increase was...

June 10, 2017

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