Page-9 of Reserve Bank of India (RBI)

UPI: 3.55 billion transactions in August

September 1, 2021

The Unified Payments Interface (UPI) by National Payments Corporation of India (NPCI) recorded more than 3 billion transactions in August 2021. Highlights More than 3 billion transactions were recorded for the second consecutive month in a row. This indicates the ..

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RBI to launch Trial Project of CBDC by December

August 28, 2021

According to Reserve Bank of India (RBI) Governor Shaktikanta Das, RBI is set to launch the trial program of its digital currency by December 2021. Highlights Currently, RBI is working on bringing its Central Bank Digital Currency (CBDC) in a ..

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N. S. Vishwanathan Panel on Urban Co-operative Banks

August 24, 2021

Reserve Bank of India had appointed committee headed by N. S. Vishwanathan to make suggestions on structure for the urban cooperative banks (UCBs) Key Points Panel was set up to suggest structure on the basis of deposits, prescribed different capital ..

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RBI introduced Financial Inclusion Index

August 17, 2021

The Reserve Bank of India introduced the financial inclusion index on August 17, 2021. Key Points The Financial Inclusion Index will be used to capture the extent of financial inclusion in India. This index was part of the announcements made ..

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Deposit Insurance Credit Guarantee Corporation Bill 2021 to be introduced

July 29, 2021

On 28th July, 2021, the Union Cabinet cleared changes to the deposit insurance laws of the country. According to these changes up to Rs 5 lakh of funds will be provided to an account holder within 90 days in the ..

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India: 5th largest Forex reserve holder in the world

July 20, 2021

As of 25th June, 2021, India has surpassed Japan, China, Russia and Switzerland to become the world’s fifth-largest foreign exchange reserve holder with $608.99 billion. This was mentioned in the Lok Sabha on 20th July, 2021 by Pankaj Choudhary, MoS ..

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Bank staff in sensitive operations to get surprise leave

July 12, 2021

Under Modified Risk Management guidelines of Reserve Bank of India (RBI), Bankers working in sensitive positions such as treasury operations and currency chests, will get surprise holiday of at least 10 working days in a single spell per year. Highlights ..

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RBI asks banks to stop Libor soon

July 10, 2021

Reserve Bank of India (RBI) issued an advisory to banks and other financial institutions to be prepared for year-end transition from London Interbank Offered Rate (Libor). Transition from Libor Global transition from Libor became necessary because banks were manipulating rate ..

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RBI Report: India’s Current Account surplus of 0.9% of GDP in FY21

July 1, 2021

As per data released by Reserve Bank of India (RBI), India has reported a current account surplus of 0.9 per cent of GDP in the Financial Year 2021 (FY21) amid the covid-19 pandemic. In 2020, it has reported current account ..

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RBI expands Scope of BBPS

June 15, 2021

Reserve Bank of India on has expanded the scope of Bharat Bill Payment System (BBPS) which will be effective from August 31, 2021. How scope has been expanded? Scope of BBPS has been expanded by adding ‘mobile prepaid recharges’ as ..

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