RBI Imposes Monetary Penalties on 5 Co-operative Banks In a recent development, the Reserve Bank of India (RBI) has imposed monetary penalties on five co-operative banks for various violations. This action comes as part of the central bank’s efforts to ensure compliance and maintain the stability of the banking sector. Penalties Imposed: Response from RBI:…
SP Global Ratings Forecasts 75 Basis Points Repo Rate Cut in India in 2024-25 In a recent forecast by SP Global Ratings, a significant monetary policy move is anticipated for India in the fiscal year 2024-25. The forecast suggests a substantial reduction of 75 basis points in the repo rate, a key monetary policy tool…
RBI and Bank Indonesia Sign MOU to Promote Local Currency Use In a significant development for the financial landscape, the Reserve Bank of India (RBI) and Bank Indonesia recently inked a Memorandum of Understanding (MOU) to promote the use of local currencies in bilateral trade and investment between the two nations. This strategic move holds…
RBI Appoints S. Ravindran as Part-Time Chairman of Tamilnad Mercantile Bank The Reserve Bank of India (RBI) has recently appointed S. Ravindran as the part-time Chairman of Tamilnad Mercantile Bank. This appointment comes as a significant development in the banking sector, especially in the context of Tamilnad Mercantile Bank’s operations and governance. Why this News…
RBI and Nepal Rastra Bank Sign Pact for UPI-NPI Linkage In a significant development, the Reserve Bank of India (RBI) and the Nepal Rastra Bank (NRB) have recently inked a crucial pact aimed at establishing a linkage between the Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI). This collaboration is poised to have…
RBI Imposes Major Restrictions on Paytm Payments Bank Operations: Limited Post February 29 In a significant move, the Reserve Bank of India (RBI) has imposed major restrictions on the operations of Paytm Payments Bank. This decision, effective post-February 29, has far-reaching implications for candidates preparing for various government exams, including those aspiring for positions in…
India’s Forex Reserves Surge to $623.2 Billion, Registering a $2.75 Billion Increase India’s foreign exchange reserves have witnessed a substantial surge, reaching a remarkable figure of $623.2 billion. This substantial rise marks an increase of $2.75 billion, showcasing the country’s robust economic fortitude in the global financial landscape. Amidst global economic volatility, India’s continuous efforts…
RBI Significantly Raises Bulk Deposit Limit for Large UCBs to ₹1 Crore and Above The Reserve Bank of India (RBI) recently implemented a noteworthy change by substantially elevating the bulk deposit threshold for large Urban Co-operative Banks (UCBs) to ₹1 crore and above. This decision marks a pivotal shift in the financial landscape, reshaping the…
Proposed RBI Framework for Self-Regulatory Organizations (SROs) in Banking and NBFCs The Reserve Bank of India (RBI) has recently introduced a draft framework aimed at establishing Self-Regulatory Organizations (SROs) within the realms of banking and Non-Banking Financial Companies (NBFCs). This innovative move seeks to empower industry participants to regulate themselves under RBI oversight, fostering better…
Monetary Policy Tools in India – A Comprehensive Overview India’s monetary policy plays a pivotal role in shaping the country’s economic landscape. The Reserve Bank of India (RBI) employs various tools to regulate the nation’s monetary policy, aiming to maintain stability, control inflation, and stimulate economic growth. Understanding these tools is crucial for aspirants preparing…
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