Rise in Fake Rs 500 Notes Detected in India – RBI Annual Report Reveals In the recently released annual report by the Reserve Bank of India (RBI), a concerning trend has come to light. The report highlights a significant rise in the detection of counterfeit Rs 500 notes circulating in India. This news has caught…
RBI Allows AU Small Finance Bank to Deal with Foreign Exchange The Reserve Bank of India (RBI) has recently allowed AU Small Finance Bank to deal in foreign exchange (FX) services. The bank can now offer services such as outward remittances in foreign currency and issuance of foreign currency travel cards, among others. AU Small…
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…
Ashwani Kumar suggested as MD and CEO of UCO Bank by FSIB The Financial Services and Investment Board (FSIB) has recommended the appointment of Ashwani Kumar as the Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank. FSIB made this recommendation to the Appointments Committee of the Cabinet (ACC) after conducting interviews of…
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…
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…
