Today's Sector News - 24.12.2019: 09.00 Am
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* BANKING: The Reserve Bank of India allowed peer-to-peer lenders to have an aggregate exposure of 5 mln rupees to all borrowers at any point of time, across all peer-to-peer lending platforms, as against 1 mln rupees earlier.
- The RBI has relaxed norms for units of banks at International Financial Service Centre, allowing
them to accept foreign currency fixed deposits of up to one year from non-bank entities.
* ECONOMY: The Reserve Bank of India has asked the finance ministry to align interest rates on small savings with market rates for improving monetary policy transmission.
* STEEL: The steel ministry, along with NITI Aayog, will come out with a report in the next three to four months on steps to make the domestic steel industry more competitive, Steel Minister Dharmendra Pradhan said.
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