The RBI has asked all Banks and Financial Institutions (FIs) to provide information and documents sought by the Special Investigation Team (SIT) set up to uncover black money. The...
The Government of India has accepted the report of Mayaram Committee thereby accepting the definitions of FII and FDI. The panel headed by Finance Secretary was set up...
The Reserve Bank of India (RBI) conducted Open Market Operations (OMOs) to sell Rs 2,255 crore of government bonds between June 2 to June 6, 2014, to absorb...
The Reserve Bank of India will soon come up with India’s first payments bank, which will offer deposit and payment services but not provide loans. This idea is...
Making opening a bank account less cumbersome than earlier, the RBI has said that accounts can now be opened with just one address proof, permanent or local. This...
From July 12, 2014, non-scheduled Urban Co-operative Banks (UCBs) will have to keep more of their deposits with the central bank as the Reserve Bank of India (RBI) has raised the...
Recently, the Reserve Bank of India (RBI) made it compulsory for debit and credit card holders to key in the Personal Identification Number (PIN) while making transactions at...
Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, RBI has been decided the following key rates: RR (Reverse Repo Rate)...
The Reserve Bank of India (RBI) raised the Cash Reserve Ratio (CRR) for non-scheduled Urban Co-operative Banks (UCBs) by 100 basis points from 3% to 4%. The step will bring nonscheduled...
As per RBI, India’s foreign exchange (Forex) reserves jumped by $15.5 billion in the Financial Year (FY) ended March 2014. The reserves stood at $303.67 billion. As per...
