Page-49 of Economy & Banking Current Affairs - 2022

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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IBBI: Changes in Voluntary Liquidation Timeframe

The Insolvency and Bankruptcy Board of India (IBBI) has notified amendments to the regulations of the voluntary liquidation process, wherein the timelines including the distribution of proceeds from realization have been reduced so that a faster exit for firms can be ensured. From 5th April 2022, these amended regulations have come into effect. Overview: There ..

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RBI Guidelines on Digital Banking Units

The Reserve Bank of India (RBI) has recently released guidelines for the banks of the country to set up digital banking units (DBUs). An announcement regarding the setting up of 75 DBUs in 75 districts was made in the Union Budget 2022-23. About Digital Banking Units A DBU is a specialized business unit that houses ..

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RBI Monetary Policy April 2022- Highlights

The Reserve Bank of India led by Governor Shaktikanta Das has released the monetary policy update for April 2022. Policy Rates The Policy Repo Rate has been kept unchanged at 4 percent. The Marginal Standing Facility (MSF) rate remains unchanged at 4.25 percent. The Bank Rate also remains unchanged at 4.25 percent. Reverse Repo Rate ..

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India’s Agriculture Exports in 2021-22

For FY 2021-22, the exports of agricultural products, including plantation and marine products of India have touched a record USD 50 billion. This is a 20 per cent increase from last year. Overview: This growth in export has been achieved due to a surge in shipments of marine products, rice, buffalo meat, sugar, wheat, and ..

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World Bank- East Asia and Pacific Economic Update

The growth forecasts for the Pacific and East Asia have been lowered by the World Bank in its latest economic update. The forecasts have been lowered to 5 per cent from 5.4 per cent that was forecasted in October 2021. Overview: The World Bank has also warned that growth could slow to 4 per cent ..

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