Banking Current Affairs

Navigating the Currency Demand Paradox: RBI Paper Emphasizes Cybersecurity and Customer Protection

Created: November 29, 2023

In a recent paper titled ‘Cash versus Digital Payment Transactions in India: Decoding the Currency Demand Paradox,’ the Reserve Bank highlighted the importance of cybersecurity, customer protection, and cost-effectiveness in sustaining the surge in digital payments catalyzed by the Covid-19 ..

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Reserve Bank of India Launches Surveys for Monetary Policy Insights

Created: November 2, 2023

On November 1, the Reserve Bank of India (RBI) announced the introduction of two significant surveys, the ‘Inflation Expectations Survey of Households’ and the ‘Consumer Confidence Survey,’ aimed at providing valuable inputs for its bi-monthly monetary policy decisions. The next ..

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RBI Eases Closure Rules for District Central Co-operative Banks

Created: October 31, 2023

The Reserve Bank of India (RBI) has announced a significant change in its regulations, allowing District Central Co-operative Banks (DCCBs) to close un-remunerative branches without seeking prior permission from the central bank. However, DCCBs will need approval from the Registrar ..

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RBI Mandates Minimum Two Whole-Time Directors for Indian Banks

Created: October 26, 2023

The Reserve Bank of India (RBI) has introduced a crucial requirement for Indian banks, stating that they must now have a minimum of two whole-time directors (WTDs) on their boards. This mandate extends to the Managing Director and Chief Executive ..

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G20 Expert Panel’s Recommendations on Reforming MDBs

Created: October 20, 2023

A G20 expert panel dedicated to strengthening Multilateral Development Banks (MDBs) has urged these institutions to pivot from financing individual projects to prioritizing sectoral programs aligned with long-term transformation plans proposed by national governments. This strategic shift aims to enhance ..

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RBI Forms Working Group for Credit Loss-Based Provisioning Transition

Created: October 5, 2023

The Reserve Bank of India (RBI) has established a nine-member working group to propose a framework for a smoother transition to the expected credit loss-based provisioning system (ECL). The group, led by R. Narayanaswamy, a former professor of IIM Bangalore, ..

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