P Santhosh Takes the Helm as MD & CEO of NARCL Leadership Change at NARCL P Santhosh has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of the National Asset Reconstruction Company Limited (NARCL). This significant appointment marks a new phase for NARCL, a key institution in the Indian…
RBI Conducts Massive Liquidity Infusion Through Variable Rate Repo Auctions The Reserve Bank of India (RBI) has undertaken significant measures to tackle the prevailing liquidity deficit in the banking sector by conducting a series of Variable Rate Repo (VRR) auctions. In May 2024, the RBI infused Rs 7.75 trillion through nine VRR auctions, with the…
India’s Foreign Exchange Reserves Surge by $2.56 Billion to Reach $644.15 Billion Significant Increase in Reserves India’s foreign exchange reserves saw a substantial increase of $2.56 billion, reaching $644.15 billion for the week ending May 10, 2024. This surge comes after a previous increase of $3.668 billion, marking a positive trend following three consecutive weeks…
RBI Revises Guidelines for Banks’ Capital Market Exposure in T1 Settlement The Reserve Bank of India (RBI) has recently made significant revisions to the guidelines concerning banks’ exposure to the capital market during T1 settlement. These changes aim to enhance risk management practices and ensure the stability of the financial system. Revised Guidelines Overview The…
RBI Imposes Penalties on Tamilnad Mercantile Bank and DCB Bank The Reserve Bank of India (RBI) has recently imposed penalties on Tamilnad Mercantile Bank (TMB) and DCB Bank for various regulatory violations. This move by the central bank underscores its commitment to maintaining the integrity and stability of the banking sector in India. Introduction The…
Surge in Deposits and Advances for Scheduled Banks to Over ₹2 Lakh Cr Each in December 1 Fortnight The recent surge in deposits and advances for scheduled banks to over ₹2 lakh crore each during the December 1 fortnight has unveiled a significant upturn in the banking sector. This notable increment in both deposits and…
Caution Flags Raised by CAFRAL on NBFC and Digital Lending Practices In the ever-evolving landscape of finance, concerns over Non-Banking Financial Companies (NBFCs) and digital lending practices have been thrust into the spotlight. The Centre for Advanced Financial Research and Learning (CAFRAL) recently sounded alarm bells, emphasizing the need for regulatory scrutiny in these domains….
RBI Imposes Penalties on Punjab National Bank and Federal Bank The Reserve Bank of India (RBI) recently imposed penalties on Punjab National Bank (PNB) and Federal Bank for various violations, highlighting the regulatory measures taken to ensure the stability and integrity of the banking system in India. These penalties come as a significant development in…
Government Maintains GPF Interest Rate at 7.1% for 15th Consecutive Quarter In a significant development for government employees and aspirants preparing for various competitive exams, the Indian government has decided to maintain the General Provident Fund (GPF) interest rate at 7.1% for the 15th consecutive quarter. This decision was announced recently and has garnered the…
India Maintains Unchanged Borrowing Plan and Introduces 50-Year Bond India’s fiscal landscape witnessed significant developments as the government announced its decision to uphold its borrowing plan while also introducing a groundbreaking 50-year bond. These financial moves carry profound implications for various government job aspirants, including those preparing for positions as teachers, police officers, banking professionals,…
