Currency Swap Agreement Framework revised For SAARC

The Reserve Bank of India (RBI) has decided to further economic cooperations within the South Asian Association for Regional Cooperation (SAARC) member countries, the framework on currency swap agreement has been revised on Tuesday, November 26, 2019. The currency swap ..

RBI enhances scope of Special Non-Resident Rupee accounts

The Reserve Bank of India (RBI) has enhanced scope of ‘Special Non-resident Rupee’ (SNRR) by allowing persons residing outside India to open such accounts for purposes such as- (a) external commercial borrowing (ECB), (b) trade credit and and (c) Trade ..

Month: Current Affairs - November, 2019

RBI calls for fresh applicants to grant depositor awareness funds

The Reserve Bank of India (RBI) has decided to call for fresh applications ‘on tap’ for grant of financial assistance from the Depositor Education and Awareness Fund (DEAF). The RBI has unveiled guidelines on the criteria for registering institutions, organisations ..

Kerala govt gets RBI’s nod for formation of Kerala Bank

The Reserve Bank of India (RBI) has given its final nod to Kerala Government for the formation of Kerala Bank. The final nod by RBI was subjected to certain conditions. RBI’s approval is valid only till 31 March 2020. Key ..

Month: Current Affairs - October, 2019

RBI cuts Repo Rate

RBI today released its 4th bi – monthly policy review. The Reserve Bank of India cut repo rate by 25 base points to 5.15%. It is the lowest since 2010. This is the fifth consecutive rate cut of the Shaktikanta ..

Month: Current Affairs - October, 2019

Reserve Bank of India (RBI) cuts its key lending rate

As per 4th bi – monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India (RBI) has cut  its key lending rate — repo rate – by 25 basis points to 5.15% in an effort to boost a sluggish ..