Banking Current Affairs
Navigating the Currency Demand Paradox: RBI Paper Emphasizes Cybersecurity and Customer Protection
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 ..
Month: Current Affairs - November, 2023
Category: Banking Current Affairs
Reserve Bank of India Launches Surveys for Monetary Policy Insights
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 ..
Month: Current Affairs - November, 2023
Category: Banking Current Affairs
RBI Eases Closure Rules for District Central Co-operative Banks
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 ..
Month: Current Affairs - October, 2023
Category: Banking Current Affairs
RBI Mandates Minimum Two Whole-Time Directors for Indian Banks
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 ..
Month: Current Affairs - October, 2023
Category: Banking Current Affairs • India Nation & States Current Affairs
G20 Expert Panel’s Recommendations on Reforming MDBs
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 ..
Month: Current Affairs - October, 2023
Category: Banking Current Affairs • International / World Current Affairs
RBI Forms Working Group for Credit Loss-Based Provisioning Transition
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, ..
Month: Current Affairs - October, 2023
Category: Banking Current Affairs