RBI inked MoU on Supervisory Cooperation and Exchange of Supervisory Information with Banco Central do Brasil (BCB).
The directions have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. Changes are effected during the tenure of the ECB.
Shanta Kumar Committee on 21 January 2015 submitted its report on restructuring of Food Corporation of India (FCI) to the Prime Minister Narendra Modi.
In response to ‘Make in India’ initiative of Prime Minister, ONGC and Pan-IIT signed MoC to enhance exploration and exploitation of hydrocarbons and alternate sources of energy.
UNESCAP released WESP 2015 report and projected that regional growth will pick up in 2015-16, as average GDP growth will accelerate from 5.0 percent in 2014 to 5.3 percent in 2015 and 5.7 percent in 2016.
CCEA chaired by Prime Minister Narendra Modi on 16 January 2015 approved revision in buffer norms of foodgrains in the Central Pool.
Trade deficit of India declined to ten month low of 9.43 billion US dollars in December 2014.
Final guidelines that allow banks to act as insurance brokers were issued by Reserve Bank of India on 15 January 2015.
The wholesale price index based inflation raised marginally to 0.11 percent in December 2014 from zero percent in November 2014.
The Reserve Bank of India (RBI) on 14 January 2015 relaxed the Forex Hedging Norms under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
The Joint Venture agreement is aimed at setting up new Ammonia and Urea plants at the existing site of Ramagundam Fertilizer plant in District Karimnagar in Telangana.
RBI cut its main lending rate (repo rate) by 0.25 per cent with immediate effect in its sixth Bi-Monthly Monetary Policy that was announced on 15 January 2015.
The proposed norms aimed to make it easier for domestic mutual funds to manage offshore pooled assets.
Reserve Bank of India and the European Central Bank inked a memorandum of understanding (MoU) for cooperation in the field of central banking. The MoU provides a framework for regular exchange of information, policy dialogue and technical cooperation.
India’s Index of Industrial production (IIP) grew 3.8 percent in November 2014. IIP was released by Central Statistics Office of the Ministry of Statistics and Programme Implementation for the month of November with base 2004-05.
The firm also forecasted that Indian Economy will also recover in FY 2015-2016. The recovery is likely to get support from easing inflationary pressures and measures towards economic reforms.
The foreign direct investment policy was aligned with the upgraded National Industrial Classification (NIC) code with an aim to improve the ease of doing business.
The largest ever auction of Second Generation (2G) telecom spectrum is targeted to fetch around 64840 crore rupees from the sale.
RBI amended KYC norms for NBFC’s, as they were facing practical difficulties and constraints in getting KYC documents at frequent intervals.
The Department of Financial Services under the Union Ministry of Finance on 31 December 2014 appointed the Managing Directors (MD) and Chief Executive Officers of four Nationalised Banks.
Union Cabinet approved the hike of government stake in Industrial Finance Corporation of India (IFCI) ltd to 51 percent.
The liberalization of norms was part of series of amendment done by RBI from time to time in the Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004.
The Reserve Bank of India on 29 December 2014 released the Financial Stability Report December 2014. The report also includes the Trend and Progress of Banking in India during 2013-14.
Foreign Exchange Reserves of India reached 320 billion US dollars on the back of a massive jump in foreign currency assets.
Four PSUs signed joint venture agreements to set up an integrated coal gasification-cum-fertiliser and ammonium nitrate complex in Talcher, Odisha.
Union Cabinet approved promulgation of an Ordinance to hike FDI cap in the insurance sector to 49 percent.
The RBI extended the deadline for exchanging pre-2005 of various denominations till 30 June 2015. Earlier, the deadline was 1 January 2015.
WTCIS and NIESBUD on 22 December 2014 signed an agreement to promote and develop small businesses in the country.
Suresh Prabhu Advisory Group on Integrated Development of Power submitted report to Union Government.
Reserve Bank of India on 22 December 2014 issued guidelines to define non-cooperative borrowers and fixed the cut off limit for classifying non-cooperative borrowers.