1. Rajiv Mathur takes over as New CIC
i. Former IB chief Rajiv Mathur on Thursday took over as the new Chief Information Commissioner in the Central Information Commission.
iii. 64-year-old Mr. Mathur succeeds Sushma Singh, who demitted office on Wednesday, as the sixth chief of the transparency watchdog.
iv. The CIC is appointed by the President on the recommendation of a committee led by the Prime Minister, including the Leader of the Opposition in the Lok Sabha and a Union Cabinet Minister nominated by the Prime Minister.
2. Bharatiya Mahila Bank included in Second Schedule of RBI Act, 1934
i. Bharatiya Mahila Bank (BMB) was included in the second schedule of the Reserve Bank of India (RBI) Act, 1934. The inclusion of the BMB in the second schedule was announced by RBI in a notification issued in Mumbai on 21 May 2014.
ii. With the inclusion of BMB, total number of scheduled commercial banks in India now stands at 90. As on 2 May 2014, there were 89 Scheduled commercial banks in India.
iii. The inclusion of BMB in the second schedule of the RBI Act, 193 means that now it will be eligible for loans from RBI on bank rate and also acquired membership of clearing houses.
About Bharatiya Mahila Bank (BMB)
Bharatiya Mahila Bank (BMB) is the first all-women bank of India. It started functioning on 19 November 2013 with a capital of 1000 crore rupees. Key objectives are to focus on the banking needs of women and promote economic empowerment. The current loan portfolio of the bank is about 80 to 90 crore rupees. It is a bank that provides loan to the girl child at a concessional rate, which is 1% lower than the normal rates.
Bharatiya Mahila Bank (BMB) is the first all-women bank of India. It started functioning on 19 November 2013 with a capital of 1000 crore rupees. Key objectives are to focus on the banking needs of women and promote economic empowerment. The current loan portfolio of the bank is about 80 to 90 crore rupees. It is a bank that provides loan to the girl child at a concessional rate, which is 1% lower than the normal rates.
3. RBI eases gold import norms; nod for select trading houses to procure from abroad
i. The RBI has eased gold import norms and allowed select trading houses to procure it from abroad. In a notification issued from Mumbai, the RBI said that star trading houses or premier trading houses which are registered as nominated agencies can now import gold under 20:80 scheme.
ii. Under this scheme, an importer has to ensure that at least 20 per cent of every lot of imported gold is exclusively made available for export purpose.
ii. Under this scheme, an importer has to ensure that at least 20 per cent of every lot of imported gold is exclusively made available for export purpose.
iii. Further, the RBI has also allowed banks to give gold loans to domestic jewellery manufacturers, out of their eligible domestic import quota of 80 percent.
iv. The RBI, in July last year, had imposed severe restrictions on gold imports in order to check the escalating current account deficit and sliding rupee.
v. The central bank said that the decision to ease the restriction was taken after several representations from jewellers, bullion dealers, banks, and trade bodies.
iv. The RBI, in July last year, had imposed severe restrictions on gold imports in order to check the escalating current account deficit and sliding rupee.
v. The central bank said that the decision to ease the restriction was taken after several representations from jewellers, bullion dealers, banks, and trade bodies.
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