Page-11 of Reserve Bank of India Current Affairs, GK & News

Banking Regulation (Amendment) Bill, 2020 introduced in Lok Sabha

The Banking Regulation (Amendment) Bill, 2020 was introduced in the Lok Sabha by Finance Minister Nirmala Sitharaman. This proposed bill is expected to provide more powers to the RBI for regulating cooperative banks. The bill seeks to strengthen cooperative banks by improving professionalism, access to capital and banking practices through the RBI. The administrative issues ..

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RBI conducts one-year and three-year tenor LTRO to reduce banks’ lending rates

The Reserve Bank of India is conducting one-year and three-year tenor LTRO to help banks to reduce their lending rates. In the latest bi-monthly policy review, it announced term repurchase agreements (repos) of one-year and three-year tenors for Rs 1 trillion at the policy repo rate. RBI has conducted three LTRO- Long-term repo operation on February ..

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Sumant Kathpalia appointed as CEO of IndusInd Bank

Indian private sector lender IndusInd Bank recently announced that the Reserve Bank of India (RBI) has approved the appointment of Sumant Kathpalia as the Chief executive. Sumant Kathpalia is currently serving as the head of Consumer banking business of the bank. He is to replace the incumbent Chief Executive Romesh Sobti and to take charge ..

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RBI unveils National Strategy for Financial Inclusion 2019-24

The Reserve Bank of India (RBI) has recently unveiled a National Strategy for Financial Inclusion 2019-24. It aims at providing formal and affordable financial services and to promote financial literacy among customers. Reserve Bank of India under the aegis of Financial Inclusion Advisory Committee (FIAC) have released the strategy. Some of its recommendations include: Setting up Financial service providers ..

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RBI Board recommends aligning of accounting year with fiscal year from 2020-21

The current accounting year of the Reserve Bank of India (RBI) is July-June. Recently, the Central Board of Directors of the RBI recommended to align the accounting year of RBI with the financial year of the government (April-March), from 2020-21. The RBI board announced this proposal at its 582nd meeting and approved to forward the proposal ..

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