Page-50 of RBI
RBI doubles cap on PPIs to Rs. 20,000
The Reserve bank of India (RBI) has increased the per month limit of Prepaid Payment Instruments (PPIs) to Rs. 20,000 from Rs. 10,000 and to Rs. 50,000 for merchant bank. This decision was taken due to sudden increase in demand ..
Month: Current Affairs - November, 2016
RBI proposes Islamic window in conventional banks
The Reserve Bank of India (RBI) has proposed the opening of Islamic window in conventional banks for gradual introduction of Sharia-compliant or interest-free banking in the country. In this regard, RBI has also prepared a technical analysis report and submitted ..
Month: Current Affairs - November, 2016
Special Task Force led by SS Mundra formed to recalibrate ATMs
The Reserve Bank of India (RBI) has formed Special Task Force to speed up the process of recalibration of automated teller machines (ATM) to dispense the new denomination notes. The Special Task Force will be headed by S.S Mundra, Deputy ..
Month: Current Affairs - November, 2016
RBI issues clarifications on Hedging for External Commercial Borrowings
The Reserve Bank of India (RBI) has issued the Clarifications on hedging for External Commercial Borrowings (ECB) in a bid to effectively address currency risk at the systemic level. The Clarifications were issued by RBI under section 10(4) and 11(1) ..
Month: Current Affairs - November, 2016
RBI issues new series of Rs 500 and Rs 2,000 currency notes
The Reserve Bank of India (RBI) has issued new series of notes for 500 rupees and 2,000 rupees denomination with improved features and newer sizes. These new series of notes was issued following Prime Minister Narendra Modi’s announcement that Rs ..
Month: Current Affairs - November, 2016
Rs. 500, Rs. 1,000 notes no longer legal tender
The Union Government has announced that Rs. 500, Rs. 1,000 notes will cease to be legal tender. It was announced by Prime Minister Narendra Modi in a surprise address to nation. The demonetisation drive of these two currency units was ..