RBI has issued Statement on Development and Regulatory Policies immediately after announcing the Monetary Policy on 8th Oct 2021. This Statement sets out various developmental and regulatory policy measures relating to (i) liquidity measures; (ii) payment and settlement systems; (iii) debt management; and (iv) financial Inclusion and customer protection.
The Reserve Bank of India (RBI) on Friday decided to keep benchmark interest rate unchanged at 4 percent but maintained an accommodative stance.
Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today on 25th August 2021 unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 – tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the awards ceremony to felicitate best performing banks on EASE 3.0 Banking Reforms Index.
Why should a country need a monetary policy? Who makes it? What is the purpose of monetary policy? What are the instruments used for it? In this article, we shall learn and understand all major concepts associated with the monetary policy of India.
Reserve Bank released the 23rd issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial sector.
Keeping in view the current COVID-19 related restrictions in various parts of the country, REs are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021,
The resurgence of Covid-19 pandemic in India in the recent weeks and the consequent containment measures to check the spread of the pandemic may impact the recovery process and create new uncertainties. With the objective of alleviating the potential stress to individual borrowers and small businesses, a set of measures are being announced by RBI. These set of measures are broadly in line with the contours of the Resolution Framework – 1.0, with suitable modifications.
In an unscheduled address, the Governor said that the situation in the country has reversed from being on foothills of strong economic recovery to facing a fresh crisis.
The Reserve Bank of India (RBI) on May 5 announced several measures to protect small and medium businesses, individual borrowers from the adverse impact of the intense second wave of COVID-19 across the country.
It has also made provisions for banks to advance loans to businesses and restructure loans for enhancing liquidity in the system to help mitigate the crisis.
The RBI announced a Resolution Framework 2.0 for COVID-related stressed assets of individuals, small businesses and MSMEs and also expressed its resolve to do everything at its command to ‘save human lives and restore livelihoods through all means possible’.
Considering that the resurgence of COVID-19 pandemic in India has made individual borrowers, small businesses and MSMEs most vulnerable, the RBI has allowed borrowers i.e. individuals and small businesses and MSMEs having aggregate exposure of up to ₹25 crore, who have not availed restructuring under any of the earlier restructuring frameworks (including under the Resolution Framework 1.0 dated August 6, 2020), and who were classified as ‘Standard’ as on March 31, 2021, eligible to be considered under Resolution Framework 2.0.
The Reserve Bank of India today released the February 2021 issue of its monthly Bulletin. The Bulletin includes Monetary Policy Statement, 2020-21: Resolution of the Monetary Policy Committee (MPC) February 3-5, 2021, one Speech, four Articles and Current Statistics.
The four articles are: I. State of the Economy; II. Sectoral Deployment of Bank Credit in India: Recent Developments; III. Assessing the Future Path of Monetary Policy from Overnight Indexed Swap (OIS) Rates; IV. Do Markets Know More? India’s Banking Sector through the Lens of PBR.
Statement on Developmental and Regulatory Policies sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision (iii) deepening financial markets; (iv) upgrading payment and settlement systems and (v) consumer protection.