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RBI Bi-Monthly Policy Review

Repo Rate
6.25 %
Reverse Repo Rate
Bank Rate
Marginal Standing Facility (MSF)
Cash Reserve Ratio (CRR)
Statutory Liquidity Ratio (SLR)
Inflation Rate (First Half)
Inflation Rate (Second Half)

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 New Appointments in Banking Sectors (Highlighted) 

The Appointments Committee of the Cabinet has approved seven top-level changes in various public sector banks. Usha Ananthasubramanian, MD, and CEO, Punjab National Bank, has been appointed as MD & CEO of Allahabad Bank. Sunil Mehta, Executive Director, Corporation Bank, has been appointed as MD & CEO of Punjab National Bank. The committee has also approved the appointment of Dinabandhu Mohapatra, Executive Director at Canara Bank, as MD and CEO of Bank of India. G Rajkiran Rai, Executive Director at Oriental Bank of Commerce, has been appointed MD & CEO of Union Bank of India, for a period of three years with effect from July 1. R Subramaniakumar, Executive Director, Indian Overseas Bank, has been elevated as MD & CEO of the bank. RA Sankara Narayanan, ED, Bank of India, has been appointed MD & CEO of Vijaya Bank with effect from September 1. MO Rego, MD & CEO of Bank of India, has been appointed MD & CEO of Syndicate Bank with immediate effect.

New Appointments
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  • Shobana Kamineni is the new President of Confederation of Indian Industry (CII).
  • Emmanuel Macron has been elected as the New President of France.
  • Prabhat Kamal Bezboruah has been named the new chairman of the Tea Board of India by replacing Shri Santosh Sarangi.
  • Three Indian Scientist named Krishna Chatterjee, Subhash Khot, Yadvinder Malhi have been elected as the Fellows of The Royal Society, a premier scientific academy of the United Kingdom and the Commonwealth, for their “outstanding contributions to science“.
  • Braj Bihari Kumar, the editor of quarterly journals Dialogue and Chintan Srijan, has been appointed as the chairman of the Indian Council of Social Science Research (ICSSR).
  • Mallikarjun Kharge is the new chairman of the Public Accounts Committee (PAC).
  • Mr. Anthony Lianzuala took over as the New Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance with effect from May 1, 2017, in New Delhi.
  • Bharti Enterprises appoints Soumen Ghosh as MD, financial services.
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  • Aymanam ward in the Kerala district on became India’s first digitalised panchayat ward. 
  • Odisha will introduce boat ambulance service in four districts where people face difficulties in getting health service.
  • Kashmiri wins 2016 Wisden-MCC Cricket 'Photograph of the Year' award.
  • Union Minister for Road Transport and Highway Nitin Gadkari inaugurated the country's first bio-refinery plant inagurated in Pune which produces ethanol from the variety of biomass. 
  • The Haryana government has decided to open canteens offering meals at subsidized rates to registered construction workers under the "Antyodaya Anna Yojana" at 23 locations in the state.
  • Indore in Madhya Pradesh is India’s cleanest city while Gonda in Uttar Pradesh is the dirtiest, according to the ‘Swachh Survekshan-2017’. This report were recently announced by Urban Development Minister M Venkaiah Naidu.
  • India to get world's highest railway bridge across Chenab river in Jammu and Kashmir.
  • Union Cabinet approved Vijayawada Airport as International Airport recently.
  • Manoj Sinha, Minister of State (Independent Charge) for Communications and Minister of State for Railways, formally launched the 'Tarang Sanchar portal' in an event organized at New Delhi. The web portal is for Information sharing on Mobile Towers and EMF Emission Compliances.
  • Madhya Pradesh has become the first state to switch to the January-December financial year from the existing April-March cycle.
  • Jharkhand has decided to become the second state in the country to reschedule its financial year from January to December.
  • Maharashtra Chief Minister Devendra Fadnavis has inaugurated the State’s first automatic weather station at Dongargaon in Vidarbha region.
  • The Central government has declared the entire Assam as a "disturbed" area.
  • UberEATS Food Delivery Service Launched in India, Starting With Mumbai.
  • ‘Second-tallest’ flag post comes up in Kolhapur, Maharashtra. First in Ranchi (Jharkhand).
  • Assam gets its first Shatabdi Train which will run between Dibrugarh and Guwahati.
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  • India ranked 4th in ICC Twenty20 International team rankings.
  • The Hinduja brothers have topped the 2017 list of the richest people in the UK with an estimated fortune of £16.2 billion, a massive £3.2 billion hike in their fortunes over the previous year.
  • Dubai has become the first city in the world to get its own Microsoft font.
  • India has launched the Geosynchronous Satellite Launch Vehicle (GSLV-F09) carrying the GSAT-9 or the “South Asia” satellite. According to Indian Prime Minister, the Satellite will be a “priceless gift” to neighboring countries. The satellite will lift off from the Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh.
  • Chinese scientists build world's first quantum computing machine.
Defence & Railway
  • Indian Railways is expected to launch a new premier train, called the Tejas Express, between Mumbai and Goa in June.
  • To Strengthen defence ties, India has opened its first private small arms manufacturing plant at Malanpur, Madhya Pradesh in a joint venture with Israel.
  • Defence Minister (Additional Charge) Arun Jaitley handed over a number of devices 'E-Nasika' and 'OTL-300' developed by the DRDO to National Security Guard (NSG), Delhi Police and National Disaster Response Force (NDRF).
  • Asian Infrastructure Investment Bank (AIIB) has recently approved USD 160 million loan for a power project in Andhra Pradesh, the first credit from the bank for an Indian project.
  • As per the UN report, India is expected to achieve 7.1 percent growth this year as re-monetisation restores consumption, and infrastructure spending increases.
  • The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process, where required.
Books and Authors
  • Bollywood actor Aamir Khan launched renowned actress of her age, Asha Parekh’s autobiography “Asha Parekh: The Hit Girl” in New Delhi.
  • M. Venkaiah Naidu releases set of books titled ‘Swachh Jungle ki kahani – Dadi ki Zubani’. The set of four books written in a storytelling format by renowned children’s author Dr. Madhu Pant would convey the message in an interesting manner through the clean Jungle tales. 
Science & Technology
  • Facebook & Airtel has launched its 'Express Wi-Fi' commercially in India and the service is now available via 700 hotspots across four states of Uttarakhand, Gujarat, Rajasthan and Meghalaya.
  • The world's biggest X-ray laser has generated its first beam of light, that will allow scientists to get a glimpse of new materials, drugs and chemical reactions at the atomic level. 
Schemes/ Programme
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  • HRD Minister Prakash Javadekar launched 'Students for soldiers- a nationwide Vidya-Veerta Abhiyan' to encourage Universities to display portraits of Param Veer Chakra-decorated soldiers. The aim of this Abhiyan is to instill a sense of patriotism and nationalism among students.
  • The Insolvency and Bankruptcy Board of India (IBBI) has constituted Technical Committee to lay down Technical Standards for the performance of core services and other services in accordance with Regulation 14 of the IBBI (Information Utilities) Regulations, 2017. The committee will be Chaired by Dr. R. B. Barman and the three members of the committee are Dr. Nand Lal Sarda, Dr.  Pulak Ghosh and Sh. V. G. Kannan.
  • Cabinet approves New Central Sector Scheme named SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters).
  • Minister of State (I/C) for Labour and Employment, Shri Bandaru Dattatreya launched two schemes “One IP- Two Dispensaries” and “Aadhaar based Online Claim Submission” on the occasion of International Labour Day (1st May).
  • 34 MoU worth Rs 2 lakh crores were signed in the three-day India Integrated Transport and Logistics Summit that was concluded in New Delhi. 
  • India and Turkey have strongly condemned the “use of double standards” in combating terrorism and agreed to strengthen cooperation in effectively dealing with the menace both bilaterally and at multilateral fora.
  • Quikr acquires Zimmber to strengthen home service business.
Brand Ambassador
  • The United Nations High Commissioner for Refugees (UNHCR) has appointed Syrian refugee and Olympic athlete Yusra Mardini as a Goodwill Ambassador.
Summit /Conference / Events / Host
  • PM Modi addresses Indian heads of mission meet in New Delhi.
  • Minister of Road Transport and Highways Nitin Gadkari has inaugurated two exhibitions namely 'The Highway Saga: Past Present and Future' and 'Safe Road and Inter-State Highways Transforming India (SRISHTI)’ at Vigyan Bhawan in New Delhi.
  • The 4th National Standards Conclave held in New Delhi.
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  • Great Britain wins the 26th edition of the Azlan Shah Cup at Ipoh, Malaysia.
  • The Indian men’s national football team has made it into the top 100 of the FIFA (International Federation of Association Football) world football rankings for the first time in 21 years.
  • Joshna Chinappa scripted history by becoming the first Indian to clinch the Asian Squash title with a thrilling win over compatriot Dipika Pallikal Karthik in the women's final.
  • India's top cueist Pankaj Advani lost to China's Lv Haotian in the summit clash of Asian Snooker Championship held in Doha, Qatar.
  • Rafael Nadal won a record-extending 10th Barcelona Open title by defeating Dominic Thiem of Austria.
  • Valtteri Bottas (Mercedes) claimed his first Formula One victory, taking the flag at the Russian Grand Prix after a tense final few laps as he was chased down by Ferrari’s Sebastian Vettel.
Award & Honour
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  • India’s cricket icon Sachin Tendulkar plans to support charities and various initiatives to help the under-privileged people. He has received the Fellowship Award at the 7th annual Asian Awards in UK.
  • Indian boxer Shiva Thapa won silver medal in the 60-kg category at the Asian Boxing Championships in Tashkent, Uzbekistan.
  • Hollywood film The Black Prince, featuring singer-poet Satinder Sartaaj and veteran actress Shabana Azmi, was awarded the Special Jury Remi Award at the 50th annual Worldfest-Houston International Film Festival (WHIFF).
  • Chairman of Nicco group Rajive Kaul gets diplomatic service Merit Sungnye Medal of the Republic of Korea award from South Korea.
  • The National Academy of Television Arts & Sciences (NATAS) has announced the winners of the 44th Annual Daytime Emmy Awards held in California, USA.
  • Andhra Pradesh Chief Minister Chandrababu Naidu has been selected for the ‘Transformative Chief Minister Award 2017’ in recognition for his role in advancing the US-India partnership at the state level.
  • Mark Selby beats John Higgins to retain his World Championship title.
  • Sunil Chhetri wins 'Hero of the League' Award 2016-2017.
  • Sanjay Pratihar, a scientist at Tezpur University, has been chosen for the the prestigious Indian National Science Academy (INSA) medal for the Young Scientist Award for the year 2017.
  • Legendary pakistani sitar player Ustad Raees Khan died at the age of 77 in karachi. 
  • Famous Sufi singer and daughter of legendary Sitar Maestro (late) Ustad Vilayat Ali Khan, Begum Yaman K. Khan has passed away after multiple organ failures.
  • Justice Leila Seth, first woman judge of Delhi High Court, passes away at the age of 86.

  • India has organized a cultural festival in Egypt to mark the 156th birth anniversary of the famous Indian poet, Rabindranath Tagore.
  • Reliance Corporate IT Park Ltd. (RCITPL) has signed a Memorandum of Understanding (MoU) with enterprise application software major SAP SE to launch 'SARAL GST' solution for taxpayers.
  • The Madhya Pradesh government has passed a resolution granting river Narmada the status of a living entity and committed itself to the protection of its legal rights.
  • Chhattisgarh successfully auctioned its third limestone block, Kesla-II to Dalmia Cement in a bidding that went on for a record 23 hours with the highest bid received 96.15% of IBM (Indian Bureau of Mines) prices which are 20 times more than the reserve price.
  • eVIN Project of Health Ministry becomes global best practise in immunisation. eVIN (Electronic Vaccine Intelligence Network) is an indigenously developed technology system in India that digitizes vaccine stocks and monitors the temperature of the cold chain through a smartphone application. The innovative eVIN is presently being implemented called across twelve states in India.
  • IIT Roorkee scientists create low-cost solar cells using Jamun.
  • Hero MotoCorp conferred with 'Indian MNC of the Year' award by AIMA.

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