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What is Repo Rate?
Repo rate is the rate at which the central bank lends money to the commercial banks in case of fund crunch. It is a tool used by the monetary authorities to control inflation. The Monetary Policy Committee (MPC) of the ..
Month: Current Affairs - December, 2020
Digital Payment Security Controls Direction
The RBI is to introduce digital payment security control directions for regulated entities to improve the security of digital payment channels and also to improve the consumer service. This announcement comes after the central bank temporarily barred the largest private ..
Month: Current Affairs - December, 2020
Liquidity Adjustment Facility
Recently, the Reserve Bank of India (RBI) has decided to extend liquidity adjustment facility (LAF) to Regional Rural Banks (RRB) to make liquidity management more efficient. The LAF was introduced in RBI in 1998 based on the recommendations of Narasimham ..
Month: Current Affairs - December, 2020
What is V-Shaped Recovery?
A V-shaped recovery is a type of economic recession and recovery that resembles the shape of alphabet V in charting. A V-shaped recovery involves a sharp revival of the economy to the previous peak after a sharp decline. The Finance ..
Month: Current Affairs - December, 2020
Why did RBI direct HDFC bank to stop its Digital Launches?
The Reserve Bank of India recently asked the HDFC bank to temporarily stop all its launches under its Digital 2.0 programme. Why did RBI take action against HDFC bank? The RBI issued the order with regard to outrages against the ..
Month: Current Affairs - December, 2020
Orundoi Scheme: Key Facts
The scheme is to be launched by the Assam government in 29 districts across the state. Through this scheme, the government seeks to empower women by transferring a minimum amount of Rs.830 each month directly to the bank accounts of ..
Month: Current Affairs - December, 2020
RBI Mohanty Panel for Bank License to Large Corporate Houses
The Reserve Bank pf India had earlier constructed an Internal Working Group under P K Mohanty. The committee was set up to review ownership guidelines of Indian private sector banks. The committee has submitted a report about the bank licensing ..
Month: Current Affairs - November, 2020
Why did RBI impose moratorium on Lakshmi Vilas Bank?
The Reserve Bank of India recently imposed a moratorium on Lakshmi Vilas Bank of India for a period of thirty days. The apex bank has also drafted a scheme for the merger of the bank. Under the scheme, the Lakshmi ..
Month: Current Affairs - November, 2020
Kris Gopalakrishnan appointed the first Chairperson of Reserve Bank Innovation Hub
On November 17, 2020, Kris Gopalakrishnan, the former co-chairman and co-founder of Infosys was appointed as the first Chairperson of Reserve Bank Innovation Hub. He was appointed by the Reserve Bank of India. The Reserve Bank Innovation Hub aims to ..
Month: Current Affairs - November, 2020
WPI inflation at 1.48% in October 2020; Increased for third consecutive month
The Wholesale Price Index (WPI) increased to 1.48% in October 2020. This was the highest in the past eight months. Key Highlights The inflation rate based on WPI Food Index fell from 6.92% in September 2020 t0 5.78% in October ..