Statement on Developmental and Regulatory Policies Statement sets out various developmental and regulatory policy measures relating to (i) regulation and supervision; (ii) financial markets; and (ii) payment and settlement systems.
The Reserve Bank of India’s (RBI’s) six-member monetary policy committee (MPC), headed by Governor Shaktikanta Das, decided to maintain key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding Omicron coronavirus variant.
RBI hackathon applications are open for anyone above 18 years of age with an innovative idea. The registration process began on November 15 and the last date to register and submit proposals is December 15.
The Reserve Bank of India today released the November 2021 issue of its monthly Bulletin. The Bulletin includes five speeches, four articles and current statistics.
The four articles are: I. State of the Economy; II. Is the Phillips Curve in India Dead, Inert and Stirring to Life or Alive and Well?; III. Uncertainty and Disagreement among Professional Macroeconomic Forecasters; and IV. Changing Tides in the Indian Money Market.
The Reserve Bank announces the activation of the RBI Retail Direct Scheme with effect from today. The Scheme was launched today in virtual mode by the Hon’ble Prime Minister, Shri Narendra Modi. Reserve Bank of India-Retail Direct (RBI-RD) Scheme will bring G-secs within easy reach of the common man by simplifying the process of investment. Under the Scheme, retail individual investors will be able to open a Retail Direct Gilt (RDG) Account with the Reserve Bank of India, using an online portal (https://rbiretaildirect.org.in).
The Reserve Bank – Integrated Ombudsman Scheme, 2021 (the Scheme) was launched today in virtual mode by Hon’ble Prime Minister Shri Narendra Modi. The Scheme integrates the existing three Ombudsman schemes of RBI namely, (i) the Banking Ombudsman Scheme, 2006; (ii) the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and (iii) the Ombudsman Scheme for Digital Transactions, 2019. The Scheme, framed by the Reserve Bank in exercise of the powers conferred on it under Section 35A of the Banking Regulation Act, 1949 (10 of 1949), Section 45L of the Reserve Bank of India Act, 1934 (2 of 1934), and Section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007), will provide cost-free redress of customer complaints involving deficiency in services rendered by entities regulated by RBI, if not resolved to the satisfaction of the customers or not replied within a period of 30 days by the regulated entity.
RBI has revised the PCA framework for Scheduled Commercial Banks (excluding Small Finance Banks, Payment Banks and Regional Rural Banks). The provisions of the revised PCA Framework will be effective from January 1, 2022.
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.
The presence of multiple laws, forums and complexities resulted in delays in the timely resolution of the distressed entities and eventually resulting in deterioration of assets and their realizable value. The IBC 2016 laid down a collective mechanism for resolution of insolvencies in the country in a time bound manner and to preserve the economic value of assets of corporate persons, partnership firms and individuals and to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders