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RBI to set up innovation hub for Financial Sector
The Reserve Bank of India has announced that it is setting up an Innovation Hub to promote innovation across the financial sector by utilizing technology for various things. It is going to act as a centre of innovation for the ..
Month: Current Affairs - August, 2020
RBI keeps Repo Rate Unchanged at 4%
The Monetary Policy Committee of the Reserve Bank of India has decided to keep the Repo Rate unchanged during the bi-monthly policy review of the apex bank. The MPC is headed by Shaktikanta Das, the Governor of the RBI. The ..
Month: Current Affairs - August, 2020
RBI to extend $400 million Currency Swap Facility to Sri Lanka
The Reserve Bank of India has signed all the necessary documents for extending a $400 million currency swap facility to Sri Lanka to boost the island nation’s draining foreign exchange reserves on account of the coronavirus pandemic around the world. ..
Month: Current Affairs - July, 2020
RBI creates Payment Infrastructure Development Fund
On June 5, 2020, the Reserve Bank of India created Payment Infrastructure Development Fund of Rs 500 crores. Highlights The apex bank has made an initial contribution of Rs 250 crores towards the funds. The rest of the fund is ..
Month: Current Affairs - June, 2020
Monetary Policy Committee meets: Repo rate reduces to 4%
On May 22, 2020, the policy committee met in an emergency meeting to review the current economic outlook and impacts of COVID-19. Highlights The RBI has reduced the repo rate from 4.4% to 4%. It has reduced the reverse repo ..
Month: Current Affairs - May, 2020
Group of Ministers submitted draft proposal on Employment and Skill Development
The Group of Ministers Committee formed under the leadership of Social Justice and Empowerment Minister recently submitted its draft proposals on employment and skill development. Proposals made The following proposals were made by the draft The draft has proposed “The ..
Month: Current Affairs - May, 2020
RBI launched a 50,000 Crore INR Liquidity Window to support Mutual Funds
The RBI has announced a special liquidity window of 50,000 crore INR for mutual funds in light of Franklin Templeton closing down 6 of its debt funds due to lack of liquidity. High Risk Mutual Fund Mutual funds are investment ..
International Financial Services Centre Authority established by GoI
The Government of India has established International Financial Services Centre Authority. The headquarters of the authority is to be established in Gandhinagar, Gujarat. Highlights The Authority was established through a notification. The notification issued by the GoI brings into effect ..