RBI Inks Pact with Bank of England on Bond Clearing Settlement The Reserve Bank of India (RBI) recently made headlines by entering into a significant pact with the Bank of England concerning bond clearing and settlement. This strategic agreement aims to facilitate and enhance the clearing and settlement of government securities in both countries. Such…
Forex Reserves Jump $2.53 Billion to $597.93 Billion In a significant development, India’s foreign exchange reserves have witnessed a notable surge, reaching $597.93 billion, marking a $2.53 billion increase. This surge is a positive indicator for the country’s financial stability and economic resilience amidst global fluctuations and uncertainties. Importance of this News Economic Stability Boost…
RBI Adds 19 More Entities to its Unauthorized Forex Trading Platforms The Reserve Bank of India (RBI) recently expanded its scope of unauthorized forex trading platforms by adding 19 more entities to the list. This move comes as part of RBI’s ongoing efforts to curb unauthorized forex trading activities in the country. The entities added…
RBI Extends Payments Infrastructure Scheme by 2 Years till Dec 2025; Expands Scope The Reserve Bank of India (RBI) has recently announced a significant extension and broadening of the Payments Infrastructure Development Fund (PIDF) scheme until December 2025. The PIDF, initially introduced in January 2019, aimed to encourage deployment of payment infrastructure in underserved areas….
RBI Takes Action Against Abhyudaya Cooperative Bank’s Governance Issues The Reserve Bank of India (RBI) has recently taken stringent actions against the Abhyudaya Cooperative Bank due to governance issues that have raised concerns among stakeholders. This move by the RBI comes as a response to lapses in the bank’s governance and management, which have prompted…
Retail Inflation Drops to 4-Month Low of 4.87% in October The retail inflation rate in India saw a notable decline, reaching a four-month low of 4.87% in October, as reported by the Ministry of Statistics and Programme Implementation. This drop in the Consumer Price Index (CPI) is attributed primarily to the reduction in food prices,…
RBI May Cut Interest Rates in 2024-25 if Food Inflation Is Controlled The Reserve Bank of India (RBI) is at the helm of ensuring economic stability and growth in the country, making it a crucial institution for students preparing for government exams, such as those aiming for civil services, banking, and other positions. Recent predictions…
RBI Appoints Manoranjan Mishra as its New Executive Director The Reserve Bank of India (RBI) has recently made a significant appointment, naming Manoranjan Mishra as its new Executive Director. This appointment carries great importance not only for the RBI but also for aspirants preparing for various government exams, including positions in teaching, law enforcement, banking,…
Enhancing KYC for Traceability: MEITY’s Urgent Appeal to RBI In a significant move towards bolstering cybersecurity and ensuring transparency in financial transactions, the Ministry of Electronics and Information Technology (MEITY) has recently approached the Reserve Bank of India (RBI) with a pressing request. The ministry has urged the RBI to develop a more comprehensive Know…
RBI Initiates Pilot Run to Test e-Rupee for Inter-Bank Borrowing In a significant move aimed at revolutionizing India’s financial landscape, the Reserve Bank of India (RBI) has taken a giant leap towards the digitalization of the Indian Rupee. The central bank has initiated a pilot run to test the e-Rupee for inter-bank borrowing. This bold…
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