The Reserve Bank of India’s (RBI) gold reserves have increased by 4.5% to 794.64 tonnes in the financial year 2022-23 As per the latest data released by the central bank, the value of India’s gold reserves rose to $48.5 billion in the week ended April 28, 2023. The RBI’s gold reserves account for 6.3% of…
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…
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’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…
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 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…
