Banking Awareness ---------->

RBI Deputy Governor K C Chakrabarty resigns: KC Chakrabarty, Deputy Governor, Reserve Bank of India
has quit three months ahead of completion of his term. Chakrabarty was appointed as Deputy Governor in
June 2009 for a period of three years. In 2012, he got an extension of two years.
 RBI extended 80:20 scheme to import gold to five private banks: The Reserve Bank of India (RBI)
extended the 80:20 scheme to import gold to five private banks. The move was aimed to ease the
restrictions on inward shipments of the gold. The five banks which have been allowed to import gold
under the 80:20 schemes are HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank.
Under the 80:20 schemes, nominated agencies could import gold on condition that 20 percent of the
shipment would be exported and the remainder would be kept for domestic use. It was introduced by the
Government of India and RBI on 14 August 2013 to put curbs on gold imports. The move to allow more
banks to import gold will raise shipments to about 40 tonnes per month. India used to ship in as much 70
tonnes per month. Gold import is the biggest import after oil that had pushed the current account deficit
(CAD) to a record high in the year ended March 2013.
 RBI to utilise unclaimed bank deposits of 3650 crore rupees for education and awareness among
depositors: The apex bank has announced the Depositor Education and Awareness Fund Scheme for the
purpose. In a notification issued in Mumbai, RBI said the fund would be utilised for promotion of
depositors’ interest by imparting necessary education and awareness about the banking sector.
 RBI notifies final guidelines on bad loans for NBFCs: The Reserve Bank came out with final guidelines for
the non-banking finance companies (NBFCs) with regard to the early detection and recovery of bad
loans. The guidelines will be effective from 1st April.

RBI Deputy Governor K C Chakrabarty resigns: KC Chakrabarty, Deputy Governor, Reserve Bank of India 

has quit three months ahead of completion of his term. Chakrabarty was appointed as Deputy Governor in 

June 2009 for a period of three years. In 2012, he got an extension of two years. 

 RBI extended 80:20 scheme to import gold to five private banks: The Reserve Bank of India (RBI) 

extended the 80:20 scheme to import gold to five private banks. The move was aimed to ease the 

restrictions on inward shipments of the gold. The five banks which have been allowed to import gold 

under the 80:20 schemes are HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank. 

Under the 80:20 schemes, nominated agencies could import gold on condition that 20 percent of the 

shipment would be exported and the remainder would be kept for domestic use. It was introduced by the 

Government of India and RBI on 14 August 2013 to put curbs on gold imports. The move to allow more 

banks to import gold will raise shipments to about 40 tonnes per month. India used to ship in as much 70 

tonnes per month. Gold import is the biggest import after oil that had pushed the current account deficit 

(CAD) to a record high in the year ended March 2013. 

 RBI to utilise unclaimed bank deposits of 3650 crore rupees for education and awareness among 

depositors: The apex bank has announced the Depositor Education and Awareness Fund Scheme for the 

purpose. In a notification issued in Mumbai, RBI said the fund would be utilised for promotion of 

depositors’ interest by imparting necessary education and awareness about the banking sector. 

 RBI notifies final guidelines on bad loans for NBFCs: The Reserve Bank came out with final guidelines for 

the non-banking finance companies (NBFCs) with regard to the early detection and recovery of bad 

loans. The guidelines will be effective from 1st April.