RBI Approves Merger of National and Cosmos Co-operative Banks Introduction: RBI’s Approval for Bank MergerThe Reserve Bank of India (RBI) has granted approval for the merger of the National Co-operative Bank and Cosmos Co-operative Bank. This approval marks a significant step in India’s banking sector, as it aims to create a stronger and more resilient…
RBI Lifts Restrictions on Edelweiss Group’s ECL Finance and ARC Introduction: RBI’s Decision to Lift Restrictions In a significant development, the Reserve Bank of India (RBI) has decided to lift the restrictions on two prominent entities of the Edelweiss Group—ECL Finance Ltd and Edelweiss Asset Reconstruction Company (ARC). This decision follows a long period of…
Canara Bank Aims for ₹60,000 Crore Recovery in H2 FY25 Introduction to Canara Bank’s Recovery TargetCanara Bank, one of India’s largest public sector banks, has set an ambitious target to recover ₹60,000 crore in the second half of the fiscal year 2024-25 (H2 FY25). This strategic initiative is part of the bank’s broader objective to…
RBI and Maldives Monetary Authority Sign $400 Million Currency Swap Agreement Introduction to the Agreement In a significant development aimed at strengthening economic ties, the Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have formalized a currency swap agreement worth $400 million. This agreement, signed recently, aims to bolster bilateral relations and…
RBI Tightens Norms for HFCs to Align with NBFCs Introduction: Overview of the New RBI Guidelines The Reserve Bank of India (RBI) has recently tightened the regulatory norms for Housing Finance Companies (HFCs) to align them with Non-Banking Financial Companies (NBFCs). This move is aimed at ensuring a more robust regulatory framework for HFCs, enhancing…
The Top 10 Richest Global Central Banks in 2024 Introduction to Central Bank Wealth In 2024, the global financial landscape is significantly influenced by the wealth and assets held by central banks. These institutions play a crucial role in managing national economies and their financial stability. The top 10 richest central banks globally are pivotal…
RBI Keeps Repo Rate Unchanged at 6.5% in August 2024 MPC Meeting Introduction to the RBI MPC Meeting The Reserve Bank of India (RBI) has announced its decision to maintain the repo rate at 6.5% during its Monetary Policy Committee (MPC) meeting held in August 2024. This announcement comes amidst a complex economic environment characterized…
RBI Revises NPA Provisioning Norms for Cooperative Banks Introduction to the Revised Norms The Reserve Bank of India (RBI) has announced a significant revision to the Non-Performing Asset (NPA) provisioning norms for cooperative banks. This change, introduced on August 5, 2024, aims to enhance the financial stability of cooperative banks and ensure better risk management….
RBI Cancels Licenses of 78 UCBs Since 2014 RBI’s Action on Urban Cooperative Banks (UCBs) In a significant move, the Reserve Bank of India (RBI) has canceled the licenses of 78 Urban Cooperative Banks (UCBs) since 2014. This decision reflects the central bank’s ongoing efforts to maintain the stability and integrity of the financial system….
RBI Bags Risk Manager of the Year Award 2024 by London’s Central Banking Publication The Reserve Bank of India (RBI) has been honored with the prestigious “Risk Manager of the Year Award 2024” by London’s Central Banking Publication. This accolade recognizes the RBI’s exceptional risk management practices and its proactive approach in navigating the complex…
