Page-29 of Reserve Bank of India
Banks not to charge for failed transactions, balance enquiry: RBI
Every month banks provide certain number of free transactions at ATMs to their customers and exceeding which charges are imposed. Reserve Bank of India (RBI) has asked banks not to count failed transactions at ATMs due to technical reasons as ..
Month: Current Affairs - August, 2019
NEFT to be available 24X7
The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available ..
RBI reduces repo rate by 35 basis points to 5.40%
Reserve Bank of India (RBI) in its third Bi-monthly Monetary Policy review for financial year 2019-20 has reduced its key policy rate (repo rate) by an unorthodox 35 basis points to 5.40%. This takes the benchmark lending rate to a ..
Month: Current Affairs - August, 2019
RBI cuts policy repo rate in its 3rd bi-monthly Monetary Policy Statement for FY 20
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently announcement its 3rd bi-monthly Monetary Policy Statement for FY 20 (2019-20). In it, RBI reduced the policy repo rate under the Liquidity Adjustment Facility (LAF) by ..
RBI Cuts Repo Rate
The Reserve Bank of India (RBI) in its monetary policy review undertaken by the Monetary Policy Committee (MPC) has made the following decisions: RBI cuts repo rate to 5.4% from the current 5.75%. Reverse repo rate under liquidity adjustment facility stands ..
RBI tightens fit-and-proper criteria for directors on PSB boards
Reserve Bank of India (RBI) has tightened fit-and-proper criteria for directors on boards of state-run Public Sector Banks (PSBs). In this regard, it has issued RBI (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019. ..