Deposit Insurance Credit Guarantee Corporation Bill 2021 to be introduced

On 28th July, 2021, the Union Cabinet cleared changes to the deposit insurance laws of the country. According to these changes up to Rs 5 lakh of funds will be provided to an account holder within 90 days in the event of a bank being put under moratorium by the RBI. Key Points Previously, account ..

Month: Current Affairs - July, 2021

Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022

Topics: Deposit Insurance & Credit Guarantee Corporation • Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 • DICGC • Reserve Bank of India (RBI) • Rs 5-lakh deposit insurance cover

India’s Forex reserves touch all-time high of $612.73 billion

In the week ended 16th July, India’s foreign exchange reserves rose by $835 million to touch a record high margin of $612.73 billion. In the week ended 9th July the reserves had surged to $611.895 billion from $1.883 billion.   Highlights The increase in Forex reserves was due to the rise in foreign currency assets ..

Month: Current Affairs - July, 2021

Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022

Topics: Foreign currency assets • Forex Reserves • India's Foreign exchange reserves • Reserve Bank of India • Shaktikanta Das

India: 5th largest Forex reserve holder in the world

As of 25th June, 2021, India has surpassed Japan, China, Russia and Switzerland to become the world’s fifth-largest foreign exchange reserve holder with $608.99 billion. This was mentioned in the Lok Sabha on 20th July, 2021 by Pankaj Choudhary, MoS Finance.   Key Points The Reserve Bank of India and the Government of India are ..

Month: Current Affairs - July, 2021

Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022 • India Nation & States Current Affairs

Topics: fifth-largest foreign exchange reserve holder • Forex Reserves • India’s Forex Reserves • Indian Economy • Reserve Bank of India (RBI)

Govt asks NPCI to start Electronic Vaccine Vouchers

Government has asked National Payments Corporation of India (NPCI) to launch platform for electronic vaccine vouchers. What are Electronic Vaccine Vouchers? These vouchers are like electronic prepaid instruments which can be used only for vaccination. Employers can purchase these vouchers in bulk. Vouchers will be sent to smartphone or feature phone of employee. Employee will ..

Month: Current Affairs - July, 2021

Category: Banking Current Affairs • Science & Technology Current Affairs

Topics: Advantage of electronic vaccine vouchers • COVID-19 vaccine • Electronic Vaccine Vouchers • national vaccination drive • NPCI

NITI Aayog submits names of PSU banks to be privatised

NITI Aayog has submitted names of Public Sector Undertaking (PSU) that will be privatised to Core Group of Secretaries on Disinvestment. Highlights All these PSBs will be privatised by Financial Year 2022. Privatisation is being done as part of government’s disinvestment process to raising funds. Background Centre’s aim of privatising two public sector banks and ..

Month: Current Affairs - June, 2021

Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022

Topics: Consolidation of PSBs • Department of Investment and Public Asset Management (DIPAM) • Imperial Bank of India • Privatisation of PSBs • PSBs in India • Public Sector Banks (PSBs) • State Bank of India

RBI to conduct first SLTRO for small finance banks

The Reserve Bank of India recently announced that it is to conduct the first Special Long Term Repo Operation (SLTRO) of Rs 10,000 crores for Small Finance Banks. What is the plan? The RBI will conduct the SLTRO for each month starting from May 2021. This is to continue till October 2021. The SLTRO will be ..

Month: Current Affairs - May, 2021

Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022

Topics: COVID Loan Book • LTRO • RBI • Repo Rate • Reserve Bank of India (RBI) • SLTRO • Small Finance Banks