Page-9 of Reserve Bank of India
SBI Research: Fuel Prices will Drop if Brought under GST
A State Bank of India’s report highlights that, the pan-India Prices of fuels will drop if the petrol and diesel are brought under the GST regime to ₹75 and ₹68 a litre, respectively. Highlights of the report SBI research further ..
Month: Current Affairs - March, 2021
RBI to conduct OMO of ₹20,000 Crores
The Reserve Bank of India (RBI) have announced that it will purchase four government securities (G-Secs) that amounts to ₹20,000 crore. The central bank will purchase it on February 10, 2021 under the open market operations (OMOs). Highlights This move ..
Month: Current Affairs - February, 2021
India’s New Central Bank Digital Currency
The Reserve Bank of India (RBI) is in process of examining if India needs a new central bank digital currency (CBDC) and is exploring ways to operationalise the digital currency. Highlights The statement from the RBI has come in the ..
Month: Current Affairs - January, 2021
Payment Infrastructure Development Funds
The Reserve Bank of India recently announced operational guidelines to Payment Infrastructure Development Funds. The main aim of the funds is to deploy more digital payment infrastructure across tier-3 to tier-6 centres and in the north eastern states. What are ..
Month: Current Affairs - January, 2021
Moody’s revises India 2020 GDP forecast to 8.9% contraction
Credit rating agency, Moody’s Investors Service has revised the Gross Domestic Product (GDP) forecast of India to -8.9 percent upwards for calendar year 2020 from the -9.6 percent contraction forecasted earlier. The agency forecasted in September 2020 that India’s GDP ..
Month: Current Affairs - November, 2020
IFSCA approves draft banking regulations at IFSC
International Financial Services Centres Authority (IFSCA) conducted a meeting on November 11 in New Delhi. The IFSC Authority approved the International Financial Services Centres Authority (Banking) Regulations, 2020 in the meeting. The draft banking regulations approved at the meeting opens ..
Month: Current Affairs - November, 2020
RBI to set new QR code rules to change payment picture of India
The Reserve Bank of India recently ordered payment system operators (PSO) from launching new proprietor QR code for transactions. The apex Bank asked the PSOs switch to at least 1 interoperable QR code. This is to to use the same ..
Month: Current Affairs - October, 2020
Rajeshwar Rao appointed the new Deputy Governor of RBI
On October 7, 2020, the Government of India appointed M Rajeshwar Rao as the new Deputy Governor of Reserve Bank of India. The post fell vacant in March 2020 when the previous Deputy Governor N R Vishwanathan resigned citing health ..
Month: Current Affairs - October, 2020
GoI appoints Monetary Policy Committee Members
On October 5, 2020, the Government of India appointed economists Jayant R Varma, Shashank Bhide and Ashima Goyal as members of Monetary Policy Committee (MPC). Their appointments were cleared by the Appointment Committee of the Cabinet chaired by PM Modi. ..
Month: Current Affairs - October, 2020
RBI to introduce Positive Pay System to check Cheques
The Reserve Bank of India is to introduce “Positive Pay System” from January 2021. The system makes it mandatory to re-confirm key details of cheques that need payments beyond Rs 50,000. Highlights Under the new system, the issuer of the ..