The Reserve Bank of India (RBI) on 3 December 2015 announced revised Priority Sector Lending (PSL) norms for Regional Rural Banks (RRBs). As per these…
RBI paid government Rs 66,000 cr in dividend
The Reserve Bank of India paid a dividend of nearly Rs 66,000 crore to the government. The amount is the highest ever in the central bank’s 80year history, and 22% more than it paid last year.
RBI to issue 10 rupees coins to commemorate International Day of Yoga
The Reserve Bank of India has decided to put into circulation 10 rupees coins to commemorate the International Day of Yoga. The coins have been minted by the Government of India.
RBI signed Special Currency Swap Agreement with the Central Bank of Sri Lanka
The Reserve Bank of India signed a Special Currency Swap Agreement with the Central Bank of Sri Lanka. Under the arrangement, the Central Bank of Sri Lanka can draw up to 1.1 billion US dollar for a maximum period of six months.
RBI issued revised guidelines on Priority Sector Lending
Reserve Bank of India (RBI) on 23 April 2015 issued revised guidelines on Priority Sector Lending. These revised guidelines will replace the existing guidelines issued on 1 July 2014 and became effective from the date of issue.
RBI imposes fine on 16 Central Co-operative Banks for violation of norms
The Reserve Bank of India (RBI) on 31 March 2015 imposed a monetary penalty of five lakh rupees on 16 Central Co-operative Banks (CCBs).
Sensex reaches 30,000 after RBI reduced repo rate
Soon after the Union Budget, RBI governor Raghuram Rajan reduced the repo rate by 25 basis points to 7.5%, on account of improved government finances. This move caused Sensex to reach all time high – 30,000. This is also the second time that the RBI has cut rates outside its scheduled reviews to boost investment and growth.
RBI cuts SLR, introduces new category of FDs
Reserve Bank of India cut statuary liquidity ratio (SLR) by 50 basic points. Now SLR is 21.5%. As a result of this move, banks will have their hand an additional Rs 42,000 crore to lend.
RBI lowers the rate for Home and Consumer loans
For the first time in almost two years, Reserve Bank of India governor Raghuram Rajan cut key interest rates by 25 basic points. As a result of this move, home and consumer loan rates are set to fall.