March 7, 2015
The govt and RBI- set to consider proposals far, the Formation of a monetary policy committee, which will take decisions such as Interest changes
- National Payments Corporation of India (NPCI) the umbrella organization for all retail payment in India.
- “modi’s Four- nation Indian ocean Foray” – was expected to booster India’s relation in the region , and build strategic ties as a possible counter to china’s growing maritime influence
- Modi cancels mddives trip-
- ISIS – destroys – Ancient Assyrian archaeological site in Nimrud in Iraq
- India vs. Pakistan contentions issue – Sir Geek, siachen, terrorism and kashmir
March 8, 2015
Govt 4 RBI – signed a framework agreement to setup a monetary policy committee, under which parliament would set an Inflation target to RBI, apart from setting up a separate agency, PDMA ( public debt management Agency)to manage government borrowings and other public debt by amending the RBI Act
- Present system of regulations the money markets are controlled by the RBI, but mutual funds, who are major players in the money market, are regulated by SEBI
- Both those proposals are part of the financial section Reforms commission by N. Sritrishna – submitted in March 2013.