Banking Current Affairs
Six years of ‘Bharat Interface for Money’
On the 30th of December 2016, the Prime Minister of India, Narendra Modi, launched the Bharat Interface for Money (BHIM) payment app. Six years later, BHIM is still going strong, with a steadily increasing user base and a high volume of transactions being processed through the app. In this article, we take a look at ..
Month: Current Affairs - January, 2023
Category: Banking Current Affairs
Topics: BharatInterfaceForMoney • BHIM • DigitalPayments • FinancialInclusion • FinancialTechnology • FinTech • MobilePayments • PaymentsApp • UPI
SEBI: New Benchmarking Norms for Portfolio Managers
The Securities and Exchange Board of India (SEBI) has released new guidelines titled “Performance Benchmarking and Reporting of Performance by Portfolio Managers”. The guidelines, which will come to effect from April 1 next year, provide certain performance reporting and benchmarking norms to improve transparency in the disclosure of portfolio management firms. What are the key ..
Month: Current Affairs - December, 2022
Category: Banking Current Affairs
Topics: Portfolio Management Service (PMS) • Portfolio Managers • SEBI • Securities and Exchange Board of India
Single-block-and-multiple debit in UPI
At the end of the recently held Monetary Policy Committee’s Meeting, RBI Governor announced that UPI’s capacity will be enhanced through the introduction of single block and multiple debits functionality, enabling the users to block funds in their accounts to be used when in need. He also announced the expansion of the scope of BBPS ..
Month: Current Affairs - December, 2022
Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022
Topics: BBPS • Bharat Bill Payment System (BBPS) • BHIM UPI • Monetary Policy Committee • Monetary Policy Committee (MPC) • RBI Monetary Policy Committee • Reserve Bank of India • Reserve Bank of India (RBI) • Unified Payment Interface
RBI Framework on Indian Banks’ Foreign Businesses
On December 1, the Reserve Bank of India has unveiled a framework allowing overseas subsidiaries and branches of Indian banks and financial institutions to undertake activities that are not specifically permitted in the Indian domestic market. This framework has been implemented with immediate effect. What are the key features of the framework? The framework allows ..
Month: Current Affairs - December, 2022
Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022
Topics: Banking Sector • Indian Bank • Reserve Bank of India • Reserve Bank of India (RBI)
RBI Unveils 4-tiered Regulatory Framework for Urban Cooperative Banks
A four-tiered regulatory framework for categorization of the Urban Cooperative Banks (UCBs) was recently released by the Reserve Bank of India (RBI). It had also announced norms concerning the net worth and capital adequacy of these banks. Why is the four-tiered framework needed? The previous regulatory framework classified USCs into Tier I and Tier II. ..
Month: Current Affairs - December, 2022
Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022
Topics: Cooperative banking • Cooperative Banks • Four-tiered regulatory for Urban Cooperative Banks • Reserve Bank of India • Reserve Bank of India (RBI)
RBI Launches Retail CBDC
After successfully launching the wholesale pilot project for central bank digital currency in November, the RBI commenced the retail CBDC pilot project from December 1. About RBI’s Retail CBDC Pilot Project On December 1, the first phase of the retail e-rupee pilot project was launched. It initially covers four cities – Mumbai, New Delhi, Bengaluru, ..
Month: Current Affairs - December, 2022
Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022
Topics: CBDC Scheme • central bank digital currency (CBDC). • digital rupee • Reserve Bank of India • Reserve Bank of India (RBI)