RBI Bags Risk Manager of the Year Award 2024 by London’s Central Banking Publication The Reserve Bank of India (RBI) has been honored with the prestigious “Risk Manager of the Year Award 2024” by London’s Central Banking Publication. This accolade recognizes the RBI’s exceptional risk management practices and its proactive approach in navigating the complex…
RBI Initiatives to Combat Online Payment Frauds and Streamline Financial Operations The Reserve Bank of India (RBI) has launched several measures to address the increasing risks of online payment frauds and enhance operational efficiencies in the banking sector. These initiatives aim to protect consumers and streamline financial operations, reflecting the RBI’s proactive approach to evolving…
RBI Launches Global Hackathon “Harbinger 2024” to Combat Financial Frauds The Reserve Bank of India (RBI) has taken a proactive step in the fight against financial frauds with the launch of its global hackathon, “Harbinger 2024”. This initiative aims to harness the collective intelligence and innovative spirit of the global community to develop technological solutions…
RBI Approves Zurich Insurance’s Acquisition of 70% Stake in Kotak General In a significant development in the insurance sector, the Reserve Bank of India (RBI) has given its nod to Zurich Insurance Group’s acquisition of a 70% stake in Kotak Mahindra Bank’s general insurance arm, Kotak General Insurance. This move marks a crucial milestone in…
RBI Cancels 10-Year Green Bond Auction for the First Time In a significant move, the Reserve Bank of India (RBI) has cancelled the auction for 10-year green bonds for the first time. This unprecedented decision has stirred interest among financial analysts and government exam aspirants alike. Understanding the implications of this move is crucial for…
RBI Conducts Massive Liquidity Infusion Through Variable Rate Repo Auctions The Reserve Bank of India (RBI) has undertaken significant measures to tackle the prevailing liquidity deficit in the banking sector by conducting a series of Variable Rate Repo (VRR) auctions. In May 2024, the RBI infused Rs 7.75 trillion through nine VRR auctions, with the…
RBI Imposes Rs. 3.1 Lakh Penalty on Hero FinCorp for Fair Practices Code Violation Overview of the Incident The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 3.1 lakh on Hero FinCorp Limited. The fine was levied due to the company’s failure to adhere to the Fair Practices Code (FPC) guidelines…
RBI Data Shows Significant Decline in Net FDI to $10.5 Billion in FY24 RBI Report Highlights Decline The Reserve Bank of India’s (RBI) recent data indicates a significant decline in net Foreign Direct Investment (FDI) to $10.5 billion in the fiscal year 2024 (FY24). This marks a substantial drop compared to the previous fiscal year’s…
India’s Foreign Exchange Reserves Surge by $2.56 Billion to Reach $644.15 Billion Significant Increase in Reserves India’s foreign exchange reserves saw a substantial increase of $2.56 billion, reaching $644.15 billion for the week ending May 10, 2024. This surge comes after a previous increase of $3.668 billion, marking a positive trend following three consecutive weeks…
RBI Appoints R. Lakshmi Kanth Rao as Executive Director The Reserve Bank of India (RBI) has recently announced the appointment of R. Lakshmi Kanth Rao as its new Executive Director. This move comes amidst a crucial phase for the central bank, as it navigates through various economic challenges and policy decisions. R. Lakshmi Kanth Rao…
