RBI keeps repo rate unchanged at 7.75%
The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy review, 2014-15 today kept the key rates unchanged. The repo rate was unchanged at 7.75% and the reverse repo rate at 6.75%. But, RBI has cut SLR by 50 basis points to 21.5%, effective February 7. On January 16, 2015, RBI governor Raghuram Rajanannounced his first rate cut since being appointed RBI governor in August 2013. The move prompted a near-unanimous opinion that this could be the beginning of a new interest rate easing cycle.
Usha Thorat, former deputy governor of the Reserve Bank of India (RBI) will chair the External Advisory Committee (EAC) to evaluate applications received for small finance banks, while Dr. Nachiket Mor, Director, Central Board of the Reserve Bank will chair the EAC for payment banks. More than 100 entities have applied for small finance and payment banks.In its bi-monthly monetary policy review, RBI governor Raghuram Rajan said that 72 applications for Small Finance Banks and 41 applications for Payments Banks were received up to the deadline for submission yesterday. This number excludes applications that might have been received at other venues.
RBI ups limit under Liberalised Remittance Scheme to $250,000/person in a year
The Reserve Bank of India (RBI) in its monetary policy review enhanced the limit under Liberalised Remittance Scheme (LRS) to $250,000 per person per year. "On a review of the external sector outlook and as a further exercise in macro prudential management, it has been decided to enhance the limit under the LRS to $250,000 per person per year," RBI governor Raghuram Rajan said. "Furthermore, in order to ensure ease of transactions, it has also been decided in consultation with the government that all the facilities for release of exchange/remittances for current account transactions available to resident individuals under Schedule III to Foreign Exchange Management (Current Account Transactions) Rules 2000, as amended from time to time, shall also be subsumed under this limit," RBI said.
Banks allowed setting-up cash depositors without RBI nod
The Reserve Bank has allowed banks to install cash deposit machines at their selected locations without getting its prior permission. The permission came after references from banks seeking RBI's approval to install cash deposit machines (CDMs) and Bunch Note Acceptor Machines (BNAMs). "The issue has been examined and it is advised that scheduled commercial banks (including RRBs) are permitted to install Cash Deposit Machines/Bunch Note Acceptor Machines at centres/places identified by them without having the need to take permission from Reserve Bank," it said in a notification. RBI, however, advised banks to install such machines with adequate security arrangements and also that they should not return any note suspect/counterfeit to customers.
Reliance, Birla, Bharti seek payments bank licences
India’s largest private sector conglomerates such as Reliance Industries Ltd (RIL), the Aditya Birla Group and Bharti Enterprises led the rush for payments bank licences, applications for which closed on Monday—an indication of the blurring of boundaries between banking and businesses such as retail and telecom. Vodafone Group Plc.’s Indian arm, and the Future Group also applied for licences. The scramble could also be a precursor to coming disruption in the banking business—which some banks sought to pre-empt by allying with the companies bidding for payments bank licences. India’s largest bank, the state-owned State Bank of India (SBI), has partnered with RIL and Kotak Mahindra Bank Ltd with Bharti. Non-banking finance companies and microfinance companies applied to open small banks, applications for which also closed on Monday.
U.N. agency says 2014 was warmest year on record
The U.N. weather agency says 2014 was the warmest year on record, though the temperature difference with 2010 and 2005 is so small that it’s impossible to say for sure which of the three years was the hottest. The World Meteorological Organization’s analysis on Monday mirrored findings two weeks ago by NASA and the National Oceanic and Atmospheric Administration, and also included data from the Met Office in Britain. The Geneva-based WMO said surface temperatures were 0.57 degrees Celsius above average last year. That’s slightly warmer than 2010 and 2005, but the difference was within the uncertainty margin of 0.10 degrees Celsius. With 14 of the 15 hottest years recorded this century, WMO chief Michel Jarraud said warming is expected to continue as atmospheric levels of heat-trapping CO2 rise.
Australia beat England in the Final, clinch Tri-Nation ODI Series
Australia defeated England by 112 runs to clinch Tri-Nation ODI Series. Glenn Maxwell is declared Man of the match, he scored 95 runs and took 4 wickets which helped Australia to an emphatic win. Mitchell Starc declared winner of the Man of the series.
Dilip Kumar, Iranian filmmaker Majid Majidi get the lifetime achievement award at Jaipur International Film Festival
Padam Vibhushan and tragedy king of Bollywood Dilip Kumar was conferred 'Lifetime Achievement Award' for his contribution to Indian cinema. JIFF conferred another lifetime achievement award to Iranian film-maker Majid Majidi for his upstanding contribution to the cinema. Malika Ameen, actor of Iranian films, received the award on his behalf which carried a citation, shawl and srifal.
West Indies all-rounder Dwayne Bravo retires from Test cricket
West Indies all-rounder Dwayne Bravo has decided to call it quits from the longer format of the game. Bravo played his last Test match against Sri Lanka in December 2010 and on Saturday decided to call it time on his Test career. Bravo's announcement comes weeks after he was dropped from West Indies' World Cup squad. The 31-year-old scored 2200 runs and picked up 86 wickets in 40 Tests. He said that he had tasted both success and defeats during his career but had also accumulated joyous moments.
Malaysia’s Nicol David sets world No.1 squash record
Malaysia’s female professional squash player Nicol David has set a new record by topping the world squash rankings for 106th month. She is first Asian to achieve this milestone and has overtaken previous 105th month record set by four time world champion Susan Devoy from New Zealand which was set in February 1993. For first time she had topped Women’s Squash Association (WSA) list in January 2006.
The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy review, 2014-15 today kept the key rates unchanged. The repo rate was unchanged at 7.75% and the reverse repo rate at 6.75%. But, RBI has cut SLR by 50 basis points to 21.5%, effective February 7. On January 16, 2015, RBI governor Raghuram Rajanannounced his first rate cut since being appointed RBI governor in August 2013. The move prompted a near-unanimous opinion that this could be the beginning of a new interest rate easing cycle.
Usha Thorat, Nachiket Mor to head RBI panels for differentiated bank licenses
Usha Thorat, former deputy governor of the Reserve Bank of India (RBI) will chair the External Advisory Committee (EAC) to evaluate applications received for small finance banks, while Dr. Nachiket Mor, Director, Central Board of the Reserve Bank will chair the EAC for payment banks. More than 100 entities have applied for small finance and payment banks.In its bi-monthly monetary policy review, RBI governor Raghuram Rajan said that 72 applications for Small Finance Banks and 41 applications for Payments Banks were received up to the deadline for submission yesterday. This number excludes applications that might have been received at other venues.
RBI ups limit under Liberalised Remittance Scheme to $250,000/person in a year
The Reserve Bank of India (RBI) in its monetary policy review enhanced the limit under Liberalised Remittance Scheme (LRS) to $250,000 per person per year. "On a review of the external sector outlook and as a further exercise in macro prudential management, it has been decided to enhance the limit under the LRS to $250,000 per person per year," RBI governor Raghuram Rajan said. "Furthermore, in order to ensure ease of transactions, it has also been decided in consultation with the government that all the facilities for release of exchange/remittances for current account transactions available to resident individuals under Schedule III to Foreign Exchange Management (Current Account Transactions) Rules 2000, as amended from time to time, shall also be subsumed under this limit," RBI said.
Banks allowed setting-up cash depositors without RBI nod
The Reserve Bank has allowed banks to install cash deposit machines at their selected locations without getting its prior permission. The permission came after references from banks seeking RBI's approval to install cash deposit machines (CDMs) and Bunch Note Acceptor Machines (BNAMs). "The issue has been examined and it is advised that scheduled commercial banks (including RRBs) are permitted to install Cash Deposit Machines/Bunch Note Acceptor Machines at centres/places identified by them without having the need to take permission from Reserve Bank," it said in a notification. RBI, however, advised banks to install such machines with adequate security arrangements and also that they should not return any note suspect/counterfeit to customers.
Reliance, Birla, Bharti seek payments bank licences
India’s largest private sector conglomerates such as Reliance Industries Ltd (RIL), the Aditya Birla Group and Bharti Enterprises led the rush for payments bank licences, applications for which closed on Monday—an indication of the blurring of boundaries between banking and businesses such as retail and telecom. Vodafone Group Plc.’s Indian arm, and the Future Group also applied for licences. The scramble could also be a precursor to coming disruption in the banking business—which some banks sought to pre-empt by allying with the companies bidding for payments bank licences. India’s largest bank, the state-owned State Bank of India (SBI), has partnered with RIL and Kotak Mahindra Bank Ltd with Bharti. Non-banking finance companies and microfinance companies applied to open small banks, applications for which also closed on Monday.
U.N. agency says 2014 was warmest year on record
The U.N. weather agency says 2014 was the warmest year on record, though the temperature difference with 2010 and 2005 is so small that it’s impossible to say for sure which of the three years was the hottest. The World Meteorological Organization’s analysis on Monday mirrored findings two weeks ago by NASA and the National Oceanic and Atmospheric Administration, and also included data from the Met Office in Britain. The Geneva-based WMO said surface temperatures were 0.57 degrees Celsius above average last year. That’s slightly warmer than 2010 and 2005, but the difference was within the uncertainty margin of 0.10 degrees Celsius. With 14 of the 15 hottest years recorded this century, WMO chief Michel Jarraud said warming is expected to continue as atmospheric levels of heat-trapping CO2 rise.
Australia beat England in the Final, clinch Tri-Nation ODI Series
Australia defeated England by 112 runs to clinch Tri-Nation ODI Series. Glenn Maxwell is declared Man of the match, he scored 95 runs and took 4 wickets which helped Australia to an emphatic win. Mitchell Starc declared winner of the Man of the series.
Dilip Kumar, Iranian filmmaker Majid Majidi get the lifetime achievement award at Jaipur International Film Festival
Padam Vibhushan and tragedy king of Bollywood Dilip Kumar was conferred 'Lifetime Achievement Award' for his contribution to Indian cinema. JIFF conferred another lifetime achievement award to Iranian film-maker Majid Majidi for his upstanding contribution to the cinema. Malika Ameen, actor of Iranian films, received the award on his behalf which carried a citation, shawl and srifal.
West Indies all-rounder Dwayne Bravo retires from Test cricket
West Indies all-rounder Dwayne Bravo has decided to call it quits from the longer format of the game. Bravo played his last Test match against Sri Lanka in December 2010 and on Saturday decided to call it time on his Test career. Bravo's announcement comes weeks after he was dropped from West Indies' World Cup squad. The 31-year-old scored 2200 runs and picked up 86 wickets in 40 Tests. He said that he had tasted both success and defeats during his career but had also accumulated joyous moments.
Malaysia’s Nicol David sets world No.1 squash record
Malaysia’s female professional squash player Nicol David has set a new record by topping the world squash rankings for 106th month. She is first Asian to achieve this milestone and has overtaken previous 105th month record set by four time world champion Susan Devoy from New Zealand which was set in February 1993. For first time she had topped Women’s Squash Association (WSA) list in January 2006.
No comments:
Post a Comment