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RBI and NCFE Launch Nationwide Campaigns to Boost Financial Literacy

The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) have rolled out financial literacy campaigns nationwide to foster financial awareness and inclusion. These initiatives, part of the National Strategy for Financial Education (NSFE), are focused on empowering diverse groups in society with essential financial knowledge and skills. They’re conducting special […]

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RBI Raises Small Loan Limit for UCBs to ₹3 Crore

The Reserve Bank of India (RBI) has updated the small-value loan limit for Urban Co-operative Banks (UCBs), raising it to ₹3 crore for each borrower. This adjustment is part of a larger effort to redefine small-value loans and enhance the financial stability of UCBs. Although the new limit provides more lending flexibility, the RBI has

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RBI Clears Kotak Mahindra Bank’s Digital Onboarding Ban

The Reserve Bank of India (RBI) has remove the restrictions on Kotak Mahindra Bank, permitting it to once again onboard new customers online and issue new credit cards. These limitations were initially imposed in April 2024 because of significant issues with the bank’s IT infrastructure. Now that the necessary corrective actions have been implemented, the

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RBI ₹2000 Note Withdrawal: 98% Returned, 2% Still in Circulation

The Reserve Bank of India (RBI) has reported that by December 31, 2024, only ₹6,691 crore in ₹2000 banknotes are still in circulation, which is merely 1.88% of the ₹3.56 lakh crore that was in circulation when the withdrawal was declared on May 19, 2023. This indicates that 98.12% of these high-value notes have been

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RBI, NPCI Introduce Credit Lines On UPI, Conversational Payments

RBI, NPCI Introduce Credit Lines On UPI, Conversational Payments: In a significant move aimed at enhancing India’s digital payment ecosystem, Shaktikanta Das, Governor of the Reserve Bank of India, announced a series of new UPI (Unified Payments Interface) capabilities developed by the National Payments Corporation of India (NPCI). These introduced features are set to revolutionize

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RBI governor Shaktikanta Das ranked top central banker globally

RBI governor Shaktikanta Das ranked top central banker globally: Reserve Bank of India (RBI) Governor Shaktikanta Das has been ranked as the top central banker globally by US-based Global Finance magazine. Daily Current Affairs Quiz: September 2023 He has been rated ‘A+’ in the Global Finance Central Banker Report Cards 2023. He has been placed at the top of

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Reserve Bank of India keeps key interest rate unchanged for third time

Reserve Bank of India keeps key interest rate unchanged for third time: According to the Reserve Bank of India (RBI) Monetary Policy, released in August 2023, the RBI’s Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 percent. Daily Current Affairs Quiz: August 2023 Other Highlights: The standing deposit facility (SDF) rate remains at 6.25%.

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Current RBI Governor of India, Know His Name

Current RBI Governor of India, Know His Name: Shaktikant Das, the current RBI Governor, assumed the position of the 25th Governor of RBI in December 2018. Shaktikant Das, a seasoned Indian Administrative Service (IAS) official, brought to his job a varied variety of administrative and economic experiences, making his tenure crucial for the Indian financial

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RBI imposes restrictions on Lucknow-based Indian Mercantile Cooperative Bank Ltd with a withdrawal cap of Rs 1 lakh for six months

The Reserve Bank on January 28, 2022 said it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of ₹ 1 lakh on withdrawals. The restrictions came into force from closure of business hours on January 28, 2022. The restrictions would remain in force for six months. The withdrawal limit

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RBI introduces tough PCA framework for large NBFCs

The Reserve Bank of India (RBI) on Tuesday introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022, putting restrictions on para-banks whenever vital financial metrics dip below the prescribed threshold. It will put restrictions on para-banks whenever vital financial metrics dip below a prescribed threshold. The move will

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