Page-8 of Reserve Bank of India (RBI)
RBI proposes minimum 11.5% capital for four AIFIs
Reserve Bank of India (RBI) proposed a minimum of 11.5% capital for four all India financial institutions (AIFI). Key Facts This minimum capital was proposed in accordance with Basel III framework for raising the resilience of AIFI in periods of ..
Month: Current Affairs - October, 2021
RBI fines Paytm Payments Bank and Western Union
Reserve Bank of India (RBI) has imposed monetary penalty on two payment system operators viz., Paytm Payments Bank Ltd (PBBL) as well as Western Union Financial Services Inc. Key Points RBI levied a penalty of Rs 1 crore on PBBL. ..
Month: Current Affairs - October, 2021
NPCI launches NTS platform for Card Tokenisation
National Payments Corporation of India (NPCI) announced for the launch of NPCI Tokenization system (NTS) on October 20, 2021 in order to provide support to the tokenisation of cards as an alternate for storing card details with merchants. Key Facts ..
Month: Current Affairs - October, 2021
RBI grants licence to NARCL
Reserve Bank of India (RBI) granted the licence to the Rs 6,000 crore National Asset Reconstruction Company Ltd. (NARCL). Key Facts This move will help in starting operations of the bad bank. NARCL was incorporated in Mumbai in July 2021 ..
Month: Current Affairs - October, 2021
RBI’s new auto Debit Rules- Highlights
The Reserve Bank of India (RBI) has mandated new auto-debit rules on October 1, 2021 in order to strengthen the safety and security of card transactions. Key Points As per RBI’s directive, there will be no automatic recurring payment for ..
Month: Current Affairs - October, 2021
IOB out of RBI PCA Framework
Reserve Bank of India (RBI) has moved out the public sector lender Indian Overseas Bank (IOB) from Prompt Corrective Action (PCA) framework after its financial and credit profile improved. Key Points This decision provides lender more freedom to lend, especially to corporations and ..
Month: Current Affairs - September, 2021
RBI Data on Bank deposits in FY21
Reserve Bank of India (RBI) released its “Deposits with Scheduled Commercial Banks – March 2021 data” on September 23, 2021. Highlights As per RBI data, Bank deposits have increased by 11.9 per cent year-on-year during 2020-21 as compared to 8.8 ..
Month: Current Affairs - September, 2021
RBI allows Ujjivan SFB to form a special committee
Reserve Bank has given its nod to the Ujjivan Small Finance Bank (SFB) to form a special committee of directors on September 15, 2021 in order to oversee the operations in absence of an MD and CEO. Highlights Special Committee ..
Month: Current Affairs - September, 2021
India-Singapore announces to link UPI and PayNow
India and Singapore have announced the linking of the Unified Payments Interface (UPI) and PayNow, in order to enable users to make instant, low-cost fund transfers. Highlights The project to link the fast payment systems of both the countries was ..
Month: Current Affairs - September, 2021
WPI inflation increases to 11.39 per cent in August
The wholesale price-based inflation (WPI) increased marginally to 11.39 per cent in August 2021 due to higher prices of manufactured goods, even though the prices of food articles softened. Highlights Inflation in August got reversed from the easing trend of ..