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The Reserve Bank of India Act, 1934 (RBI Act) was amended by the Finance Act, 2016, to provide a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability, while keeping in mind the objective of growth. The Monetary Policy Committee is entrusted with the task of fixing the benchmark policy rate ...
The DEA (Department of Economic Affairs), Ministry of Finance, Government of India along with Reserve Bank of India, monitors and regulates ECB guidelines and policies. Most of these loans are provided by foreign commercial banks and other institutions. During the 2012, contribution of ECBs was between 20 and 35 percent of the total capital ...
The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III-B) and the directions issued by it. On 9 November 2017, Reserve Bank of India (RBI) issued a notification outlining norms for outsourcing of functions/services by Non-Bank Financial ...
The committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the government of India. They need to observe a "silent period" seven days before and after the rate decision for "utmost confidentiality". The governor of the Reserve Bank of India is the chairperson ex officio of the ...
Sanjay Malhotra (born 14 February 1968) is an Indian bureaucrat who is serving as the Current and 26th Governor of the Reserve Bank of India (RBI) since December 11, 2024. [3] [4] He is an Indian Administrative Service Officer of 1990 Batch Rajasthan Cadre. [5]
Finance Bill 2022 enacted with amendments in Reserve Bank of India Act, 1934 for CBDC. Reserve Bank Innovation Hub (RBIH) will develop proof of concept and run the pilot project before launch. [33] As per Payments Vision 2025 document released by RBI on 17 June 2022, CBDC will be used for domestic and cross border payment processing and settlement.
The 2022 Union Budget of India was presented by the Minister of Finance Nirmala Sitharaman on 1 February 2022, as her fourth budget. This is the third budget of Narendra Modi-led NDA government's second term. The Economic Survey for 2021–2022 was released on 31 January 2022, a day before the budget. [2]
In India, the Statutory liquidity ratio (SLR) is the Government term for the reserve requirement that commercial banks are required to maintain in the form of cash, gold reserves, Govt. bonds and other Reserve Bank of India (RBI)- approved securities before providing credit to the customers. The SLR to be maintained by banks is determined by ...