RBI: Introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems– Reserve Bank of India vide its Circular dated 16th February, 2023 regarding the introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems. February 2023 Current Affairs Quiz New RBI rules for foreign donations […]
RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances: With the Home Ministry mandating SBI to report all details of overseas donors, including the purpose of remittances on a daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act
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CAMSPay receives RBI nod to operate as payment aggregator: CAMSPay has received in-principle approval from RBI to operate as a payment aggregator. It is a part of Chennai-based Computer Age Management Services (CAMS). February 2023 Current Affairs Quiz CAMSPAy, a payment platform specialising in solving banking and finance services sector’s payment challenges has been supporting mutual fund
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RBI’s financial literacy week 2023: The RBI’s “Financial Literacy Week” began on February 13 and runs through February 17, 2023. Since 2016, the Reserve Bank of India (RBI) has held this event annually to spread information on financial education to the general people throughout the country. Last year, RBI observed ‘financial literacy week’ from February
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RBI announces pilot for QR code-based Coin Vending Machine: The governor of the RBI, Shaktikanta Das, indicated that a pilot programme to introduce coin-operated vending machines that employ QR codes will start soon. In response to the outcome of the monetary policy for the year 2023, the Central Bank Governor announced that the RBI will
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RBI expands scope of TReDS platform to allow insurance facility, secondary market ops & to improve cashflow of MSMEs: RBI expands scope of TReDS platform to allow insurance facility, secondary market ops & to improve cashflow of MSMEs. The guidelines on Trade Receivables Discounting System (TReDS) were issued in December 2014 with the objective of
RBI: Number of micro ATMs increases in 2022- According to data, released by the RBI, as of December 2022, the total number of micro ATMs across the country has reached 14.19 lakh. But, there has been no significant surge in the value of money withdrawn through these devices since June 2022. There were just about 3.56 lakh micro ATMs
RBI’s Digital Payments Index Jumps to 377.46 in Sept from 349.30 in March: According to the RBI’s Digital Payments Index, which gauges the uptake of online transactions, digital payments worldwide saw growth of 24.13% in the year through September 2022.The newly-constituted RBI’s Digital Payments Index (RBI-DPI) stood at 377.46 in September 2022 against 349.30 in
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Reserve Bank of India Says No Foreign Investment Cap on Sovereign Green Bonds: The sovereign green bonds issued by the Indian government will not have any restrictions on foreign investment, the Reserve Bank of India said. Such securities will be counted as specified securities under the fully accessible route, the central bank said in a
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RBI new rules for ‘Loan Loss Provision’ by Banks: In an effort to strengthen the resilience of the banking system, the Reserve Bank of India (RBI) has recommended a new set of regulations controlling loan loss provisioning by banks. The central bank proposes to amend the regulations governing loan loss provisioning to incorporate a more
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