Reserve Bank of India Current Affairs

RBI proposes expected loss-based approach for provisioning by banks

RBI proposes expected loss-based approach for provisioning by banks: The Reserve Bank of India (RBI) has proposed a framework for the adoption of an ‘expected loss-based approach for provisioning by banks. Presently, banks in India are required to make loan loss provisions based on an ‘incurred loss’ approach, which used to be the standard globally till recently. Aim: To […]

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States’ gross fiscal deficit set to fall in 2022-23: RBI

States’ gross fiscal deficit set to fall in 2022-23: RBI- The finances of Indian states are expected to improve in 2022-23 with the consolidated gross fiscal deficit to gross domestic product ratio seen falling to 3.4% from 4.1% for the previous year, the Reserve Bank of India said on Monday. January 2023 Current Affairs Quiz

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EnKash received RBI’s in-principle nod as online payment aggregator

EnKash received RBI’s in-principle nod as online payment aggregator: Business spend management platform EnKash has received RBI’s in-principle approval for payments aggregator (PA) licence, which will enable the company to broaden its product offerings to businesses for digital transactions. January 2023 Current Affairs Quiz Founded in 2018, EnKash has helped over 100,000 businesses digitise and decentralise their

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RBI Lists 6 Rating Agencies for Banks’ Capital Adequacy Purposes

RBI Lists 6 Rating Agencies for Banks’ Capital Adequacy Purposes: The list of six credit rating firms that banks can use to risk-weight their claims for capital adequacy purposes was released by the Reserve Bank of India (RBI). The six credit rating agencies are Acuite Ratings & Research Limited, Credit Analysis and Research Limited (CARE),

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Forex Reserves at $562.9 bn; Fall by $70 bn in 2022

Forex Reserves at $562.9 bn; Fall by $70 bn in 2022: India’s foreign exchange reserves fell by $70.1 billion in 2022, data released by the Reserve Bank of India (RBI) shows. In the week ending December 30, the foreign exchange reserves were $562.9 billion. The RBI’s intervention in the currency markets to combat volatility and

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RBI launches Utkarsh 2.0 for the period 2023-2025

RBI launches Utkarsh 2.0 for the period 2023-2025: RBI Governor, Shaktikanta Das has launched Utkarsh 2.0, the second phase of RBI’s medium-term strategy for strengthening regulatory and supervisory mechanism. The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019. It became a medium-term strategy document guiding the Bank’s progress towards realization of

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Banks’ balance sheet grows in double digits after 7 years: RBI report

Banks’ balance sheet grows in double digits after 7 years: According to the Reserve Bank of India (RBI) annual report on trend and progress of banking in India, the health of Indian banks continued to improve in 2021–2022 with their balance sheet rising at double digits after a gap of seven years. At the same time, the banking

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RBI Asks Paytm To Re-apply For Payment Aggregator Licence

RBI Asks Paytm To Re-apply For Payment Aggregator Licence: Reserve Bank of India (RBI) has for now declined to entertain Paytm Payments Services’ (PPSL), a wholly owned subsidiary of Paytm, application for an authorisation to provide payment aggregator services for online merchants. The central bank has recommended PPSL to resubmit its application after completing specified procedures within

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RBI approves Cygnet to operate as NBFC account aggregator

RBI approves Cygnet to operate as NBFC account aggregator : Fintech firm, Cygnet has received in-principle approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC) account aggregator. October 2022 Current Affairs Quiz Account Aggregator: It is an open financing data-sharing protocols, regulated by the RBI. It allows consumers to instantly share their financial data with various

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RBI raised minimum capital requirement for setting up ARCs

RBI raised minimum capital requirement for setting up ARCs : The Reserve Bank has raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from Rs 100 crore. October 2022 Current Affairs Quiz Aim: To strengthen the securitization sector which plays a vital role in the management of distressed financial

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