Page-3 of Banking Current Affairs

RBI: Cash Withdrawal via UPI

A cardless cash withdrawal facility has been made available at all ATMs by the Reserve Bank of India (RBI). This facility will be made available via the Unified Payment Interface (UPI) irrespective of the bank. Overview: This decision was made by the Monetary Policy Committee (MPC) of the RBI. All banks have been given permission ..

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What is Positive Pay System?

The guidelines for the implementation of the Positive Pay System were issued by the RBI for the banks of the country. From 1st January 2021, this system has been implemented to safeguard banks against any cheque frauds. Overview: The National Payments Corporation of India has developed the Positive Pay System. Through this system the details ..

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Varnika: BRBNMPL Ink Manufacturing Unit

Reserve Bank of India’s wholly-owned subsidiary Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up an Ink Manufacturing Unit named “Varnika” at Mysuru, Karnataka. This new unit was dedicated to the nation by RBI governor Shaktikanta Das. Overview: This new ink manufacturing unit has a capacity of 1,500 MT. This new unit has ..

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Geo-Tagging of Payment System Touch Points

The framework that is related to geo-tagging of payment system touch points has been released by the Reserve Bank of India (RBI). Overview: This framework has been created as a part of RBI’s objective of deepening digital payments along with providing access to such services to all the citizens of India. The objective of this ..

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SWIFT Ban on Russia

The United States and the European Union (EU) have decided to cut off a number of Russian banks from SWIFT, the main international payment system. Russia’s central bank assets will also be frozen, which will limit Moscow’s ability to access its foreign reserves. Overview: This move’s intention is to further isolate Russia from the international ..

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India’s UPI Platform in Nepal

The first country to adopt India’s UPI system will be Nepal which will be critical in modernising the neighbouring country’s digital economy. Overview: To deliver the services in Nepal, NPCI International Payments Ltd (NIPL), NPCI’s international arm, has partnered with Manam Infotech and Gateway Payments Service (GPS). In Nepal, GPS is the authorized payment system ..

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