Page-42 of Economy & Banking Current Affairs

RBI to Phase Out Incremental Cash Reserve Ratio (I-CRR)

September 9, 2023

The Reserve Bank of India (RBI) has announced the phased discontinuation of the Incremental Cash Reserve Ratio (I-CRR), introduced on August 10, 2023. Following a review, the RBI aims to release I-CRR funds gradually to avoid shocks to system liquidity ..

Month: 

Category: 

NPCI Introduces Innovative Digital Payment Products for Inclusive Ecosystem

September 7, 2023

The National Payments Corporation of India (NPCI) has introduced a suite of groundbreaking digital payment products, unveiling them during the Global Fintech Fest 2023 in Mumbai. This initiative, attended by distinguished figures including RBI Governor Shaktikanta Das, Nandan Nilekani, and ..

Month: 

Category:  •

UPI QR Code-Central Bank Digital Currency interoperability

September 6, 2023

The Reserve Bank of India (RBI) is spearheading an innovative move towards interoperability between Unified Payments Interface (UPI) Quick Response (QR) codes and Central Bank Digital Currency (CBDC). This integration allows users of the retail digital rupee (e₹) to make ..

Month: 

Category: 

One-Hour Trade Settlement

September 6, 2023

The Securities and Exchange Board of India (SEBI) has announced plans to introduce one-hour trade settlement by March 2024, a significant development in the country’s financial market infrastructure. Currently operating on a T+1 settlement cycle, where trade-related settlements occur within ..

Month: 

Category:  •

Committee of Experts to ‘Onshoring the Indian Innovation to GIFT IFSC

August 26, 2023

The International Financial Services Centres Authority (IFSCA) received a report from the “Committee of Experts to Onshoring the Indian Innovation to GIFT IFSC.” The committee, chaired by Shri G. Padmanabhan, Former Executive Director of RBI, aimed to understand why Indian ..

Month: 

Category: 

‘Mera Bill Mera Adhikaar’ Initiative

August 25, 2023

The government has announced the launch of the ‘Mera Bill Mera Adhikaar’ initiative, aimed at fostering a culture of customers requesting invoices for all purchases. Starting on a pilot basis for 12 months from September 1, the initiative will be ..

Month: 

Category:  •

What is Bharat-NCAP?

August 22, 2023

Union Minister Nitin Gadkari announced the launch of India’s own crash-testing program, Bharat New Car Assessment Programme (Bharat NCAP), aimed at improving road safety standards for motor vehicles up to 3.5 tonnes. The program will award star ratings to vehicles ..

Month: 

Category: 

RBI Sets Guidelines for Penal Charges on Loan Defaults

August 19, 2023

The Reserve Bank of India (RBI) has issued guidelines to lenders, directing them to categorize penalties for borrower defaults as ‘penal charges’ rather than ‘penal interest.’ The RBI’s guidelines emphasize that these charges must be “reasonable” and proportional to the ..

Month: 

Category: