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Last 3 months important current affairs on rbi






We bring you the complete and important daily Current Affairs of  MARCH 2020 Quiz to achieve more marks in Banking, Insurance, UPSC, SSC, CLAT, Railways and all other competitive Exams. We prepare it based on our daily current affairs.Hope you like it.

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                         RBI CURRENT AFFAIRS 2020
                                                                MARCH

1.RBI chalks out contingency plan for Plan smooth functioning of services

Mar 22, 2020

Banking & Finance Current Affairs 2020 read all the latest Banking & Finance Current Aff

Reserve Bank of India has put in place a contingency plan & shared its BCP to ensure that key Information Technology (IT) services for the delivery of digital banking, treasury services and cheque clearance are not disrupted by the coronavirus outbreak.

*Business Continuity Plan.

2.RBI extends restrictions on PMC Bank for three more months

Mar 22, 2020

Reserve bank of India extended the regulatory restrictions on Punjab and Maharashtra Cooperative Bank (PMC) Bank by another three months. The validity of directive dated 23 September, 2019, stands modified from 23 March, 2020 to 22 June, 2020

* JB Bhoria, administrator of PMC Bank.

3.RBI names R Gandhi Ananth Gopalkrishnan addl directors on YES Bank Board BANK

Mar 21, 2020

Reserve Bank of India has appointed R Gandhi and Ananth Narayan Gopalakrishnan nan as additional directors to the board of private sector lender YES Bank for a period of two years. Prashant Kumar was earlier appointed as CEO & MD of Yes Bank

*SBI is biggest investor in YES Bank via reconstruction scheme

4.Govt to mobilise 751,000 Cr more via Treasury-Bills to bridge cash flow mismatch

Mar 19,2020

To bridge a temporary cash flow mismatch, the Government, in consultation with the Reserve Bank of India, has decided to mobilise Rs 51,000 crore more through auction of Treasury-Bills (T-Bills) during the remaining period of quarter ending March 2020

*Eestimated cost of borrowing via T-Bills-Rs 24,000 Cr.

5.DFS secretary Debasish Panda nominated on central board of RBI

Mar 13, 2020

The Reserve Bank of India said that the Central Government has nominated Department of Financial Services Secretary Debasish Panda as a Director on the RBI central board. The nomination of Panda is effective from March 11, 2020 and until further orders.

*RBI can have a maximum of four deputy governors.

6.SBI to buy shares worth Rs 7,250 Cr of cash-strapped Yes Bank

Mar 13, 2020

SBI will buy shares worth 7.250 crore rupees of the cash-strapped Yes Bank in accordance with the draft reconstruction scheme envisaged by the Reserve Bank of India, SBI's shareholding in Yes Bank will remain within 49 percent of the paid-up capital

* Per share price is 10 Rs.

7.Operation Twist: RBI gets bids worth Rs 48,856 crore for Rs 25,000 cr LTRO

Mar 10, 2020

Reserve Bank of India has received Rs 48,856 crore af bids in the fourth long-term reverse repo operation (LTROS) conducted for an amount of Rs 25,000 crore with a 3-year tenor. The RBI received 37 bids in the LTRO with a reversal date on March 7, 2023

*Bid to Cover Ratio- Amount of bids received relative to the notice

8.Former SBI CFO Prashant Kumar Takes Charge As Yes Bank Administrator

Mar 07, 2020

Prashant Kumar, former CFO of SBI,has taken charge as Reserve Bank of India-appointed administrator at Yes Bank Ltd. He has been appointed as the Administrator by the Reserve Bank of India under Section 36ACA(2) of the Bank Regulation Act, 1949,

*S Balakrishnan,Chief Financial Officer (CFO) RBI


                                               FEBRUARY

1.IDBI Bank, UCO Bank, Central Bank seek RBI nod to exit PCA framework

Feb 20, 2020

IDBI Bank, UCO Bank, and Central Bank of India have approached the Reserve Bank of India (RBI), seeking permission to exit the prompt corrective action (PCA) framework. The LIC-owned IDBI Bank has met all but one of the criteria for coming out of PCA

* IDBI Bank MD & CEO Rakesh Sharma

2.Reserve Bank of India re-draws its financial year

Feb 16, 2020

The Reserve Bank of India (RBI) will align its financial accounting year with that of the central government with effect from 2020-21. Fiscal 2019-20 will end on June 30, 2020 while fiscal year 2020-21 will begin on July 1, 2020 but ends on March 31, 2021

*Accounting year was changed to July-June in March 1940,

3.Banks' loans rise over 7% in two weeks to January 31: RBI report

Feb 15, 2020

According to Reserve Bank of India's (RBI) weekly statistical supplement, Indian banks' loans rose 7.1% in the two weeks to January 31 from a year earlier, while de posits increased 9.9%. Bank deposits rose Rs 1.98 trillion rupees to Rs 133.24 trillion,

*Shaktikanta Das, Governor Reserve Bank of India

4.RBI issues draft framework for setting up competitor to NPCI

Feb 11, 2020

Reserve Bank of India (RBI) issued a draft framework for authorisation of a pan-India new umbrella entity (NUE) for retail payment systems.The NUE could choose to be a for-profit entity or a not-for-profit as defined under Section 8 of the Companies act

* The NUE shall have a minimum paid-up capital of 500 crore

5.RBI extends debt recast window for small borrowers by 9 months

Feb 07, 2020

Reserve Bank of India (RBI) extended the deadline for a one-time restructuring scheme of small business loans by another nine months to 31 December.it also mandated banks to use an external benchmark to price loans to medium-sized enterprises from 1 April

*RBI was set up in 1935 under the Reserve Bank of India Act, 1934

6.RBI Announces the roll out of a New Digital Payment Index

Feb 07, 2020

Reserve Bank of India has announced the creation of a digital payments index (DPI) by July 2020. The index will assess and capture the extent of digitalization of payments effectively DPI has been conceptualised as a composite scoring system

* Fiscal deficit is budgeted to decline to 3.5% of GDP for 2020-21


                                                        JANUARY

1.Janak Raj to Triumph Michael Patra in RBI's monetary policy Division

Jan 29, 2020

The Reserve Bank of India has appointed Janak Raj, chief advisor to the financial policy division, as executive director. He succeeds Michael Patra. Now RBI will pos sess 12 EDs, its entire strength. Raj would be a part of MPC as an inner RBI member

*Patra will be a part of this 6-member monetary policy committee.

2.RBI scraps certificate of authorisation of Vodafone's mobile payment app

Jan 22, 2020

The Reserve Bank of India cancelled the Certificate of Authorisation (COA) of Vodafone m-pesa on account of voluntary surrender of authorisation. Now, the company cannot transact the business of issuance and operation of prepaid payment instruments.

Vodafone m-pesa was given payments bank by the RBI in 2015.

3.RBI releases minutes of board meeting for first time

Jan 21, 2020

The Reserve Bank of India has taken a step in improving transparency of its business at the board meetings by releasing the minutes of the meeting, for the first time. The minutes disclosed that the 579th central board meeting held in October 11

*RBI Governor- Shaktikanta Das

4.Federal Bank appoints Shalini Warrier as Executive Director

Jan 18, 2020

Shalini Warrier has been appointed as Executive Director of Federal Bank. The Bank received the approval of the Reserve Bank of India in this regard. Warrier has been serving as Chief Operating Officer of the Bank since 2nd November 2015

*Shyam Srinivasan, MD & CEO of The Federal Bank Ltd.

5.RBI places restrictions on Sri Guru Raghavendra Sahakara Bank

Jan 15, 2020

The Reserve Bank of India (RBI) has placed restrictions on Sri Guru Raghavendra Sa hakara Bank, which includes a withdrawal limit of Rs 35,000 for customers. The instructions were issued under Section 35 A of the Banking Regulation Act, 1949,

*It is Bengaluru-based private lender bank.

6.Michael Debabrata Patra appointed RBI's fourth Deputy Governor

Jan 14, 2020

Govt appointed Michael Debabrata Patra as the 4th Deputy Governor of the Reserve Bank of India, Patra is currently the Execu tive Director of the Monetary Policy Depart ment. He will take over the position lying vacant after Viral Acharya's exit last year

*Patra will serve a term of three years.

7.RBI buys 15 tonnes of gold in Oct-Nov

Jan 12, 2020

The Reserve Bank of India stepped up hedging against currency volatility by purchasing 0.48 million troy ounce, close to 15 tonnes, of gold in October-November

*This is the highest bi-monthly gold purchase by the central bank.

*Value of gold in reserves rose by $6.2 billion in 2019

8.Operation Twist-lI: RBI buys and sells bonds worth 10k crore each

Jan 07, 2020

In the 3rd special open market operation in as many weeks, Reserve Bank of India (RBI) bought 10,000 crore of three long-term securities while selling a same amount of three short-term bonds.it received 47,540 ar of bids but accepted to sell 210,000 cr

* RBI has reduced the repo rate by 135 basis points

9.RBI allows 24x7 forex market operations via select banks

Jan 07, 2020

The Reserve Bank of India has enabled local banks to offer round-the-clock trading in the Indian rupee, as a step towards reducing the rising influence of offshore trading in the currency markets.

*Avg. daily volume of rupee trading in India $94.49 bn. (sep.19)

10.Shivalik, first UCB to convert into Small finance bank

Jan 07, 2020

Shivalik Mercantile Co-operative Bank Limited has become the first urban cooperative bank (UCB) that has been granted 'in-principle permission to convert into a small finance bank by the Reserve Bank of India. Yashvir Kumar Gupta is Chairman of the bank

*The 'in-principle' approval will be valid for 18 months