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RBI Keeps Repo Rate Unchanged at 6.5%: Here’s What It Means for Govt Exam Aspirants The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%. This was announced by RBI Governor Shaktikanta Das on April 6, 2023. The repo rate is the rate at which the central bank lends…
Canara Bank launches Premium Payroll Account for Salaried Employees Canara Bank has launched a new Premium Payroll Account for salaried employees. The account offers a host of benefits, including free unlimited transactions on Canara Bank ATMs, a personal accident insurance cover of up to Rs. 10 lakh, and a health insurance cover of up to…
Unclaimed Deposits Transfer: Public sector banks transfer ₹35,012 cr unclaimed deposits to RBI As of February 2023, public sector banks (PSBs) in India have transferred unclaimed deposits worth ₹35,012 crore ($4.7 billion) to the Reserve Bank of India (RBI), according to a report by the central bank. The transfer of these funds was made under…
Axis Bank business management solution : Axis Bank Launches Business Management Solution for Merchants Axis Bank, one of India’s leading private sector banks, has recently launched a new digital solution for merchants that aims to simplify their business management tasks. The solution, called “Merchant Suite,” offers a range of features that enable merchants to manage…
Article: India’s Forex Reserves Rise by $5.98 Billion to $578.78 Billion India’s foreign exchange reserves have increased by $5.98 billion to reach $578.78 billion as of March 24, 2023, as per the data released by the Reserve Bank of India (RBI) on Friday. This rise in reserves can be attributed to the increase in foreign…
RBI Appoints Neeraj Nigam as Executive Director The Reserve Bank of India (RBI) has appointed Neeraj Nigam as its new Executive Director. Nigam has been appointed for a period of three years, and his appointment will be effective from April 03, 2023. He will be in charge of the RBI’s Department of Banking Supervision, among…
Current Account Deficit Narrows to 2.2% of GDP in Q3 The current account deficit (CAD) of India has narrowed down to 2.2% of GDP in the third quarter of the fiscal year 2020-21, as per the data released by the Reserve Bank of India (RBI). This is a significant improvement from the previous quarter, where…
Fino Payments Bank Partners with Rajasthan Royals as Digital Banking Partner for IPL 2023 Fino Payments Bank has partnered with the Rajasthan Royals, one of the most popular teams in the Indian Premier League (IPL), as its digital banking partner for IPL 2023. As part of the partnership, Fino Payments Bank will offer a range…
World Bank assistance Odisha : World Bank approves $100 million to increase social protection and disaster resilience in Odisha The World Bank has approved a $100 million loan to the state of Odisha in India, to improve social protection programs and enhance the state’s resilience to natural disasters. The project, titled the “Odisha Disaster Resilience…
Axis Bank Launches MicroPay Based on PIN on Mobile Technology for Digital Payments Axis Bank, one of India’s leading private sector banks, has launched a new digital payment service called MicroPay. The new payment service is based on PIN on Mobile technology, which allows customers to make secure payments without the need for a physical…
