India and Tanzania have received approval from the Reserve Bank of India (RBI) to utilize their respective national currencies in bilateral trade settlements. This move is anticipated to decrease transaction costs and improve the effectiveness of cross-border trade, resulting in higher trade volumes and increased economic collaboration between the two nations. Buy Prime Test Series […]
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RBI’s Data Centre And Cybersecurity Training Institute To Come Up In Bhubaneswar
The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, initiated the establishment of a “Greenfield Data Centre” and an “Enterprise Computing & Cybersecurity Training Institute” in Bhubaneswar, Odisha, during a foundation stone laying ceremony. Buy Prime Test Series for all Banking, SSC, Insurance & other exams More About The New Data Centre and […]
RBI, Central Bank of UAE sign MoU to promote innovation in financial products and services
The Reserve Bank of India (RBI) on March 15 said that it has signed a Memorandum of Understanding (MoU) with the Central Bank of United Arab Emirates for promoting innovation in financial product and services. Buy Prime Test Series for all Banking, SSC, Insurance & other exams More About The RBI & Central Bank of […]
RBI Governor Shaktikanta Das Named ‘Governor of the Year’ by Central Banking
“Governor of the Year” for 2023 Shaktikanta Das, Governor of the Reserve Bank of India, has been honored with the title “Governor of the Year” for 2023 by Central Banking, an international economic research journal. The publication praised Das for his steady leadership during challenging periods, including the collapse of a significant non-banking company, the […]
Banks from 18 countries get RBI’s nod to trade in rupee: Centre in RS
The Reserve Bank of India (RBI) has permitted banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) to settle payments in rupees, the government said. Speaking in Rajya Sabha, Union Minister of State for Finance Bhagwat Kishanrao Karad said that 60 such approvals have been given by the RBI. Buy Prime Test Series for all Banking, SSC, Insurance & other […]
RBI accords ‘infra finance company’ status to IREDA
The Reserve Bank of India (RBI) granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA) , a company statement said. It was earlier classified as an ‘Investment and Credit Company (ICC)’. Buy Prime Test Series for all Banking, SSC, Insurance & other exams Significance of the infra finance company status: […]
Daily UPI transactions jump 50% to 36 crore: RBI
Reserve Bank of India governor Shaktikanta Das said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. Buy Prime Test Series for all Banking, SSC, Insurance & other exams Value of these […]
RBI launches mission to make every citizen a user of digital payment
While digital payments have skyrocketed during the past few years, a significant portion of the population still does not use digital payments for day-to-day transactions. In order to bridge this gap, Reserve Bank of India (RBI) governor Shaktikanta Das launched a mission — “Har Payment Digital” – with the aim of making every citizen in the […]
RBI imposes restrictions on Musiri Urban Co-operative Bank
The Reserve Bank of India imposed a Rs 5,000 cap on withdrawals by individual customers from Tamil Nadu-based Musiri Urban Co-operative Bank as part of several restrictions slapped on the lender due to its deteriorating financial condition. Buy Prime Test Series for all Banking, SSC, Insurance & other exams More About the restrictions on Musiri […]
RBI Launches Two Surveys To Gather ‘Useful Inputs’ For Monetary Policy
The Reserve Bank of India launched two key surveys, the results of which provide “useful inputs” for the central bank’s bi-monthly monetary policy. One of the surveys is to know inflation expectations of households and the other is to gauze the consumer confidence. Buy Prime Test Series for all Banking, SSC, Insurance & other exams […]
