SC lifts ban on trading in virtual currency

The Supreme Court of India recently ruled the restriction on cryptocurrency trade in India. The recent order also lifted the ban on trading in virtual currency, cryptocurrency and bitcoins. The Reserve Bank of India had banned cryptocurrency trading in India ..

Banking Regulation (Amendment) Bill, 2020 introduced in Lok Sabha

The Banking Regulation (Amendment) Bill, 2020 was introduced in the Lok Sabha by Finance Minister Nirmala Sitharaman. This proposed bill is expected to provide more powers to the RBI for regulating cooperative banks. The bill seeks to strengthen cooperative banks ..

RBI conducts one-year and three-year tenor LTRO to reduce banks’ lending rates

The Reserve Bank of India is conducting one-year and three-year tenor LTRO to help banks to reduce their lending rates. In the latest bi-monthly policy review, it announced term repurchase agreements (repos) of one-year and three-year tenors for Rs 1 trillion ..

Sumant Kathpalia appointed as CEO of IndusInd Bank

Indian private sector lender IndusInd Bank recently announced that the Reserve Bank of India (RBI) has approved the appointment of Sumant Kathpalia as the Chief executive. Sumant Kathpalia is currently serving as the head of Consumer banking business of the ..

RBI unveils National Strategy for Financial Inclusion 2019-24

The Reserve Bank of India (RBI) has recently unveiled a National Strategy for Financial Inclusion 2019-24. It aims at providing formal and affordable financial services and to promote financial literacy among customers. Reserve Bank of India under the aegis of Financial Inclusion Advisory Committee ..

RBI Board recommends aligning of accounting year with fiscal year from 2020-21

The current accounting year of the Reserve Bank of India (RBI) is July-June. Recently, the Central Board of Directors of the RBI recommended to align the accounting year of RBI with the financial year of the government (April-March), from 2020-21. The ..

Andhra Pradesh attracted the highest project investments in 2018-19

According to a recent study by the Reserve Bank of India (RBI), Andhra Pradesh topped the list of states which attracted the highest project investments in 2018-19. Maharashtra, which was the topper of last year, missed its top spot in ..

Month: Current Affairs - December, 2020

RBI to launch Digital Payments Index

The Reserve Bank of India (RBI) recently released its statement on developmental and regulatory policies, along with the February 2020 Monetary policy statement. In the statement, the central bank announced about the launch of Digital Payments Index (DPI), which will ..

RBI projects GDP growth rate at 6% for FY21

The Reserve Bank of India (RBI) recently projected the economic growth of the country to grow by 6 per cent during the next financial year. This is the lower end of the growth projection as announced by the government in ..

RBI extends deadline for restructuring MSME borrower accounts

In the recent Monetary policy committee statement released by the Reserve Bank of India, it extended the deadline for one-time restructuring of GST-registered MSME borrower account, by further one year to March 31, 2021. The restructuring was to be implemented ..