Banking Sector Current Affairs, GK & News
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)
2022 Nobel Prize for Economics
This year, the Nobel Prize for Economics was conferred to Ben Bernanke, Douglas Diamond and Philip Dybvig. Key facts The 2022 Nobel Prize for Economics recognized the works that have significantly improved the world’s understanding of the role of banks in the economy, especially during the times of financial crises. The research by Ben Bernanke, ..
Month: Current Affairs - October, 2022
Category: Awards, Persons & Places in News
Topics: Banking Sector • Economic Crisis • Nobel Prize • Nobel prize for economics
Government Declares Banking Services as Public Utility Service
The government recently notified that the banking services would be categorised as a public utility service for the next 6 months. About Banking services are to be categorised as public utility services till the 21st of October. The Union Ministry of Labour and Employment declared the categorisation under the provisions of the Industrial Disputes Act. ..
Category: Economy & Banking Current Affairs - 2022 • India Nation & States Current Affairs • Legal & Constitution Current Affairs
Topics: Banking Sector • Industrial Disputes Act • Ministry of Labour and Employment
ICICI Bank launches self-service delivery facility
Leading Private lender of India, ICICI Bank recently launched a unique self-service delivery facility called ‘iBox’. Using this facility, the customers of the bank can avail various banking services including- collecting their debit card, credit card, cheque from a nearby branch. The ‘iBox’ terminals are to be placed outside the premises of the branches, which ..
Topics: Banking Sector • ICICI Bank
NPIC to export UPI, sets up subsidiary: RBI Governor
The Unified Payment Interface was introduced in India in 2016. Based on its performance, Google has recommended similar service called FedNow to the US Federal Reserve Board. With its growing popularity, the RBI on December 16, 2019 announced that NPCI will set up a subsidiary to export UPI. India is already extending the app to ..
Month: Current Affairs - December, 2019
Category: Economy & Banking Current Affairs - 2022
Topics: Banking Sector • Banking Technology • Electronic Banking Transactions • Financial Transactions • Google • International Banking • Internet banking • NPCI • UPI
Government announces Bank Recapitalisation Plan to infuse Rs. 2.11 lakh crore capital in PSBs
The Union Government has announced Bank Recapitalisation Plan to infuse Rs. 2.11 lakh crore ( $32.4 billion) capital over next two years into public sector banks (PSBs) and prioritised financing support for MSMEs in 50 clusters. The capital infusion will be accompanied by a series of banking sector reforms that will be revealed in the coming ..
Month: Current Affairs - October, 2017
Topics: Bank Recapitalisation Plan • Banking Sector • Business • Economy • National • PSBs • Recapitalisation Bonds