RBI
RBI Increases UPI Lite Wallet and Transaction Limits
The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit from ₹2,000 to ₹5,000, which aims to encourage digital transactions. The new rules were announced recently and are effective immediately. New Wallet Limit The wallet limit for ..
Month: Current Affairs - December, 2024
Category: Economy & Banking Current Affairs
India and Maldives Enhance Currency Cooperation
The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have recently signed a very important agreement, which aims to facilitate transactions using local currencies. The Indian Rupee (INR) and the Maldivian Rufiyaa (MVR) will now be used ..
Month: Current Affairs - November, 2024
Category: Economy & Banking Current Affairs
Currency Demand Paradox
The currency demand paradox, often referred to as the “paradox of banknotes,” is a phenomenon where the value of banknotes in circulation increases despite a decline in their use for payments. This intriguing trend has been observed in several nations ..
Month: Current Affairs - June, 2023
Category: Economy & Banking Current Affairs
Lightweight Payment and Settlement System
The Reserve Bank of India (RBI) is paving the way for a lightweight payment and settlements system, which it aptly calls a “bunker.” The Purpose of the Lightweight Payment System The RBI envisions the lightweight payment system as a means ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs
RBI gives licenses for 32 payment aggregators
Payment Aggregator is a third-party payment solution provider. For instance, you use YONO SBI to shop on Amazon. Therefore, SBI is an online payment aggregator. Recently, RBI issued licenses to 32 payment aggregators to serve as online payment aggregators. This ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
HARBINGER 2023: RBI announces 2nd global hackathon
The Reserve Bank of India recently announced the “HARBINGER-2023”. It is a hackathon. The theme of the hackathon is “Inclusive Digital Services”. Competitors from 22 different countries will participate in the hackathon. This includes Israel, the Philippines, Singapore, Sweden, the ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
MobiKwik launches UPI Payment with RuPay Credit Card
UPI allows users to use multiple bank accounts on the same platform. Till 2022, credit cards couldn’t be used on UPI. In June 2022, the Reserve Bank of India allowed linking credit cards with UPI. Following this, MobiKwik is the ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
RBI expands scope of TReDS platform
The TReDS is Trade Receivables Discounting System. It facilitates finances for MSMEs. The major drawback of the MSME platform is that they are unable to convert the trade receivables into liquid funds. The TReDS mainly addresses this issue. Trade receivable ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
RBI,SEBI,and NSE Actions after Adani Row
After the Hindenburg report, Gautham Adani who was the second richest person in the world slipped to the 21st position according to the Bloomberg Billionaires Index. In the last ten days, he lost 108 billion USD. Hindenburg alleged Adani of ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
Maiden Tranche of Sovereign Green Bonds
The Government of India issues bonds to support environmental projects. These bonds that bring in resources to implement such climate-related projects are called Sovereign Green Bonds. They are similar to government securities. The first tranche, meaning the first part or ..
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs