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RBI Act News

25 Dec 2016

RBI's all powerful central board has vacancy for 10 directors

RBI's all powerful central board is short of ten non-official directors and one Deputy Governor at a time when the apex bank is engaged in massive demonetisation and remonetisation exercises.

11 Dec 2016

Govt to amend RBI Act to extinguish old Rs 500, Rs1000 notes

In order to extinguish the validity of Rs 500 and Rs 1,000 currency notes, the government is likely to bring amendments to the Reserve Bank of India (RBI) Act in the forthcoming Budget.

29 Feb 2016

Govt to amend RBI Act to set up Monetary Policy Committee

The government Monday proposed to amend the RBI Act for setting up of a Monetary Policy Committee (MPC) which will fix the benchmark interest rate of the central bank and set inflation targets.

31 Aug 2015

India plans to amend RBI Act by Feb to set up monetary panel: Official

The government plans to change the Reserve Bank of India Act before the end of the fiscal year so it can set up a new committee to direct the country`s monetary policy, retiring Finance Secretary Rajeev Mehrishi told Reuters.

Monetary Policy Committee

13 Aug 2015

Bill to set up monetary policy committee likely in next Parl session: Mehrishi

Government may push amendments to the RBI Act in the Winter Session of Parliament for setting up a public debt management agency and a monetary policy committee (MPC) that will decide on the key interest rate.

07 Mar 2015

Confusion on RBI Act changes to be cleared in House: FM Jaitley

Jaitley did not elaborate on this and also parried questions on tax issues related to foreign portfolio investors (FPIs).

07 Sep 2014

Govt, RBI to devise monetary framework for central bank: Rajan

The government and the Reserve Bank of India will this year negotiate to formulate a monetary framework for the central bank that lays more emphasis on inflation, the bank's Governor Raghuram Rajan has said.

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