RBI: Payments related Data to be stored only in India

Reserve Bank of India recently clarified that all Payment System Operators (PSOs) shall store entire payment data in systems located only in India. It means that the data related to payments must be stored in systems located only in India. ..

Month: Current Affairs - June, 2019

RBI permits ARC to buy financial assets from Peers

The Reserve Bank of India (RBI) has permitted Asset Reconstruction Companies (ARCs) to acquire financial assets from peers i.e. other such entities. However, RBI, the apex banking regulator cleared that all such transactions have to be settled in cash. Key ..

Month: Current Affairs - June, 2019

India’s Forex reserves rise to a record high of $426.42 billion

As per the data revealed by Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserve rose to a life-time high of $426.42 billion (in week to 21 June 2019) after it surged by $4.215 billion boosted by higher foreign ..

Month: Current Affairs - June, 2019

Bimal Jalan panel report Delayed

The Bimal Jalan panel formed by the Reserve Bank of India (RBI) to review the economic capital framework of the Reserve Bank of India (RBI) has deferred the submission of its report to the central bank. Why the deferment? The ..

What is RBI’s Complaint Management System?

The Reserve Bank of India (RBI) has launched Complaint Management System (CMS), on its website for facilitating RBI’s grievance redressal process. About CMS It is a software application launched by RBI for lodging complaints against any regulated entity with public ..

Month: Current Affairs - June, 2019

Stressed Asset Fund for MSMEs

The U.K. Sinha committee constituted by the Reserve Bank of India (RBI) to study the problems faced by MSMEs has recommended constituting stressed asset fund for domestic micro, small and medium enterprises (MSMEs) as a relief to small businesses hurt ..

Wilful Defaulters in Nationalised Banks up by 60% in 5 years: Govt

As per a written reply given by Union Finance Minister Smt. Nirmala Sitharaman in Lok Sabha, the number of wilful defaulters in nationalised banks has increased by more than 60% to 8,582 in five years to March 2019. Key Highlights ..

Month: Current Affairs - June, 2019

RBI launches Single Window Portal for Customer Complaints

The Reserve Bank of India (RBI) has launched a single window portal, Complaint Management System for addressing customer complaints relating to banks and non-banking finance companies (NBFCs) through an online portal. Complaint Management System The Complaint Management System (CMS) is ..