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RBI/ BANKING/ BUSINESS NEWS

Union Cabinet approved promulgation of an Ordinance to hike FDI cap in the insurance sector to 49 percent.

Four PSUs signed joint venture agreements to set up an integrated coal gasification-cum-fertiliser and ammonium nitrate complex in Talcher, Odisha.

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.

The Union Government on 5 December 2014 divested its 5 percent stake in Steel Authority of India Ltd (SAIL).

The Cabinet Committee on Economic Affairs (CCEA) on 10 December 2014 approved the implementation of the Tea Development and Promotion Scheme of the Tea Board.

RBI increased RTGS (real time gross settlement) business hours from 7.30 hours to 12 hours.

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