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RBI’s new pilot project on Coin Vending Machines The Reserve Bank of India (RBI) has launched a pilot project to introduce coin vending machines (CVMs) in various cities across the country. The project is aimed at increasing the circulation of coins in the country and making them easily available to the public. The RBI has…
Federal Bank solar plant : Federal Bank installs 100 KWP Solar Plant at Aluva Office The Federal Bank, one of the leading private sector banks in India, has recently installed a 100 Kilowatt Peak (KWP) solar plant at its office in Aluva, Kerala. The solar plant has been set up on the rooftop of the…
RBI cancels license of Garha Co-operative Bank : RBI scraps license of MP-based Garha Co-operative Bank The Reserve Bank of India (RBI) has cancelled the license of Garha Co-operative Bank, which was located in Jabalpur, Madhya Pradesh. The move was made due to the bank’s weak financial position and unsatisfactory performance. This decision was taken…
Forex Reserves : Forex Reserves Decline by $8.31 bn to $566.94 bn India’s foreign exchange reserves declined by $8.31 billion to $566.94 billion in the week ended April 9, 2021, mainly due to a fall in foreign currency assets (FCA), as per the Reserve Bank of India (RBI) weekly statistical supplement data. The FCA, which…
World Bank Chief : World Bank Chief David Malpass to Step Down Early The World Bank President, David Malpass, announced his resignation from the position, effective October 1, 2022. This decision comes two years ahead of the end of his five-year term. Malpass was appointed as the President of the World Bank Group in April…
Reserve Bank of India Hackathon : Reserve Bank of India Announces 2nd Global Hackathon – Harbinger 2023 The Reserve Bank of India (RBI) has announced the launch of its 2nd Global Hackathon, ‘Harbinger 2023’, to foster innovation and create solutions to tackle various issues in the banking and financial sector. The hackathon is aimed at…
RBI’s Digital Payments Index Jumps to 377.46 in Sept from 349.30 in March The Reserve Bank of India (RBI) has released its latest data on digital payments in the country, revealing a significant increase in digital payments. According to the RBI’s Digital Payments Index (DPI), the index has increased from 349.30 in March 2021 to…
AU Small Finance Bank Launches Credit Card Offering Platform SwipeUp AU Small Finance Bank has launched its credit card offering platform called SwipeUp. The platform aims to offer customers an easy and hassle-free credit card application process. Customers can choose from four different types of credit cards, which cater to the diverse needs of customers….
RBI approves appointment of Prabdev Singh as India head of JP Morgan Chase The Reserve Bank of India (RBI) has approved the appointment of Prabdev Singh as the new India head of JP Morgan Chase. Singh will replace Kalpana Morparia, who retired in September 2021 after serving as the India head of JP Morgan Chase…
SBI General Insurance to Promote Road Safety as Part of its CSR SBI General Insurance has announced its plans to promote road safety as part of its Corporate Social Responsibility (CSR) program. The company aims to increase awareness about road safety among the public, especially young adults, and to help reduce the number of accidents…
