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On July 2, 2020, the Indian Air Force Senior Air Staff Officers (SASO) conference was inaugurated by Chief of air staff and air chief marshal. Highlights The conference was conducted through video conferencing. It is the first time the Air Force is conducting a conference virtually. The conference emphasized the need to enhance operational capability ..
On June 30, 2020, Reserve Bank of India released its data on International Investment Position, IIP. Highlights According to the data, the direct investment in the country rose by 19 billion USD and the portfolio investment declined by 13.7 billion USD. Also, the international financial assets of Indian residents have increased by 73.9 billion USD. ..
On June 29, 2020, former RBI Governor C Rangarajan was conferred with lifetime achievement award for his contributions. The award was presented on the side lines of celebration of Statistics Day. About C Rangarajan Rangarajan was born in 1932. He was the 19th governor of Reserve Bank of India (RBI). He served as Deputy Governor ..
On June 26, 2020, the Government of India introduced Floating Rate Savings Bonds. Highlights The bond is to replace savings bonds that were offered by GoI till May 28, 2020. The operational guidelines and the details of the bond are to be issued by the Reserve Bank of India. The bonds are to be available ..
On June 24, 2020, the Union Cabinet chaired by PM Modi approved to bring cooperative banks under the Reserve Bank of India. This is to be done through an ordinance. Highlights There are about 1,482 crores of urban cooperative banks. Apart from these, India also holds 58 multi-state cooperative banks. These banks together support 8.6 ..
The Reserve Bank of India (RBI) has extended the validity of authorization issued to IT service management company Vakrangee, to setup, own and operate the White Label ATMs (WLA) in India. The validity of authorization has been extended till 31 March 2021. RBI has assigned a target of minimum 1,000 ATMS to be deployed by ..
The Reserve Bank of India (RBI) is conducting Open Market Operations (OMO) in the form of purchase of Rs 10,000 crore worth government securities. This important step of the central bank has been announced at the backdrop of the increased risks of COVID-19 pandemic. The operation would increase the liquidity in the Indian economy and ..
The Reserve Bank of India (RBI) has appointed former RBI Deputy Governor R Gandhi and former banker Ananth Narayan on the board of Yes Bank. They have been appointed as Additional directors on the board for two years. Ananth Narayan was serving as the regional head of financial markets in the Standard Chartered Bank. R ..