RBI Makes External Benchmark Based Interest Rate mandatory for certain categories of loans from October 1, 2019

The government has asked banks to come up with repo-linked loan products for faster transmission of Reserve Bank’s rate cuts to borrowers.

How the mergers will impact your bank accounts, debit cards and EMIs?

About a week ago the finance minister, Nirmala Sitharaman announced the consolidation of 10 public sector banks into four mega state-owned ones. Retail customers including account holders of amalgamating banks are likely to get affected.

Transfer of Surplus Reserves by RBI to Government and Its Implication on the Economy

RBI board accepts Jalan committee recommendation. Amid slowing economic growth and rising global uncertainty, the Reserve Bank of India (RBI) board on Monday approved transfer of Rs 1.76 lakh crore surplus reserves to the central government.

10 public sector banks merged into four

Finance Minister Nirmala Sitharaman announces 4 mega bank mergers. FM said that the creation of next-generation banks was imperative for India to become a $5 trillion economy in the next five years. The reforms in the banking sector come after the government announced a slew of measures to revive growth in the Indian economy.

FinMin plans 16-point ‘Key Responsibility Area (KRA)’ to push PSBs

The Finance Ministry has taken a note that the Market Share of PSB’s is declining while that of Private Banks is declining and therefore MOF has planned to address the issue of declining share of 18 Public Sector Banks based on the Performance Indicators in certain Key areas. Now onwards Performance indicators will assess how…

How to read a credit report ?

Once you know how to read a credit report, you’ll have a better sense of what to look for. We draw your attention to our earlier post on “How long do negative items stay on a report?” wherein we have informed you about: Most negative information generally stays on credit reports for 7 years Bankruptcy stays…

Statement on Developmental and Regulatory Policies

RBI has issued the Statement on Developmental and Regulatory Policies on August 7, 2019. This Statement sets out various developmental and regulatory policy measures in the areas of Financial Markets; Payment and Settlement Systems; Banking Regulation, Financial Inclusion and Credit flow to NBFCs. I. Financial Markets 1. Introduction of stripping/reconstitution facility for State Development Loans…

Third Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India

India’s Central Bank Reserve Bank of India announced on 6th August the IIIrd Bi-Monthly Monetary Policy wherein they announced an array of conventional and unconventional measures to boost slowing economic growth, including reducing the benchmark interest rate by an irregular 35 basis points (bps), its fourth rate cut this year. The Reserve Bank of India’s six-member rate-setting…

RBI Dy Governor’s Portfolios

DG Portfolios Wef  24th July 2019, the distribution of portfolios amongst the Deputy Governors will be as following: Name Departments Shri N.S.Vishwanathan 1. Co-ordination 2. Department of Banking Regulation (DBR) 3. Department of Communication (DoC) 4. Department of Co-operative Banking Regulation (DCBR) 5. Department of Non- Banking Regulation (DNBR) 6. Enforcement Department 7. Financial Markets…

Reserve Bank of India’s Medium-term Strategy Framework – Launch of Utkarsh 2022

The RBI Governor Shri Shaktikant Das launched “Utkarsh 2022” on 23rd July 2019. It is the Reserve Bank of India’s Medium-term Strategy Framework, in line with the evolving macroeconomic environment, to achieve excellence in the performance of RBI’s mandates and strengthening the trust of citizens and other institutions. A formal strategic management framework was launched in…