Reserve Bank of India Current Affairs

RBI Launches PRAVAAH, Retail Direct Mobile App, and FinTech Repository

The Reserve Bank of India (RBI) Governor Shaktikanta Das has unveiled three major initiatives: the Pravaah portal, the Retail Direct Mobile App, and a FinTech Repository. These initiatives, previously announced in the RBI’s bi-monthly Statement on Development and Regulatory Policies in April 2023, April 2024, and December 2023, aim to enhance regulatory processes, provide easier […]

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RBI released direction for the settlement of loan account

RBI released direction for the settlement of loan account: The RBI has asked all banks, non-banking finance companies (NBFCs) and asset reconstruction companies (ARCs) to release all the original movable/immovable property documents and remove charges registered with any registry within a period of 30 days after full repayment/settlement of the loan account. Daily Current Affairs Quiz: September 2023 In case where the delay

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BIS and RBI Announce G20 TechSprint 2023 Winners

BIS and RBI Announce G20 TechSprint 2023 Winners: The Bank for International Settlements (BIS) and the Reserve Bank of India (RBI) have recently unveiled the winners of the G20 TechSprint 2023 challenge in a prestigious award ceremony held in Mumbai. This project, established by the RBI last May during India’s G20 leadership, aimed to develop

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RBI approves merger of Akola Merchant Co-operative Bank

RBI approves merger of Akola Merchant Co-operative Bank: The Reserve Bank of India (RBI) approved the merger of The Jalgaon Peoples Co-operative Bank and Akola Merchant Co-operative Bank. Aim: To streamline operations and services for customers under a unified entity. Daily Current Affairs Quiz: August 2023 The Akola Merchant Co-operative Bank branches would operate as branches of The

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Reserve Bank of India (RBI) Introduces Reforms for Transparent Home Loan EMIs

Reserve Bank of India (RBI) Introduces Reforms for Transparent Home Loan EMIs: In a significant move aimed at enhancing transparency and consumer protection in the home loan sector, the Reserve Bank of India (RBI) has introduced a comprehensive set of reforms pertaining to floating rate home loans. Daily Current Affairs Quiz: August 2023 These reforms are designed to

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RBI: Digital payments rise 13% YoY at March-end 2023

RBI: Digital payments rise 13% YoY at March-end 2023: According to the RBI’s index measuring the adoption of online transactions, digital payments in the country witnessed a year-on-year growth of 13.24% until March 2023. Daily Current Affairs Quiz: July 2023 The RBI’s Digital Payments Index (RBI-DPI) showed a rise from 377.46 in September 2022 and 349.30 in

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RBI cancels licence of 2 cooperative banks

RBI cancels licence of 2 cooperative banks: The Reserve Bank of India (RBI) has cancelled the licence of two cooperative banks — Sri Sharada Mahila Co-operative Bank, Tumkur, Karnataka and Harihareshwar Sahakari Bank, Wai, Satara. Reason: As the lenders do not have adequate capital and earning prospects. Daily Current Affairs Quiz: July 2023 About 99.96% of the depositors of Harihareshwar Sahakari

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RBI Imposes Penalties on Axis Bank, J&K Bank, and Bank of Maharashtra

RBI Imposes Penalties on Axis Bank, J&K Bank, and Bank of Maharashtra Read More »

Zimbabwe to introduce gold-backed digital currency

Zimbabwe to introduce gold-backed digital currency: The Reserve Bank of Zimbabwe (RBZ) has revealed intentions to launch a gold-backed digital currency to combat the decreasing value of the Zimbabwean currency. The digital gold tokens will be a form of electronic money, backed by gold held at the RBZ. This will enable holders of small amounts

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India’s RBI Open to Softening Stance on Deal with European Regulators

India’s RBI considers softening stance on market infrastructure deal: According to reports, India’s central bank is likely to soften its stance on signing a market infrastructure agreement with European authorities if the latter abandon their demand to scrutinise and penalise Indian intermediaries such as the Clearing Corporation of India (CCIL). The RBI and European banks

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