What is Currency Chest?

Currency Chests are places where RBI (Reserve Bank of India) stocks money meant for banks and ATMs. The Currency Chests are located in different banks and are administered by the Reserve Bank of India. Why is Current Chest in news ..

Tags: ATM thefts • Axis Bank • Currency • currency chests • Reserve Bank of India (RBI)

Month: Current Affairs - April, 2021

Impact of EU-UK Brexit Deal in India

India is to emerge as the net-gainer from the Brexit deal recently signed between the European Union and United Kingdom. Impact on India The gains for India from the EU-UK Brexit deal are mainly in the service sector. This is ..

Tags: Boris Johnson • Brexit • Currency • European Union (EU) • FDI

Month: Current Affairs - December, 2020

Currency Manipulator

The United States has again included India in its monitoring list of countries. These countries are with potential of “Currency Manipulation” and “Questionable Foreign Exchange Policies”. What is Currency Manipulator? The US Government names a country as currency manipulator if ..

Tags: Currency • Currency Manipulation • Foreign exchange • India-US • trade surplus

Month: Current Affairs - December, 2020

MECL begins gold mining in Kolar after 16 years

The Mineral Exploration Corporation Limited recently began the Kolar Gold Field exploration after 16 years. Background The Kolar Gold mines are located nearly 100 km from Bengaluru. They were closed in 2001 due to the fall in gold prices. The ..

Tags: Currency • Geological Survey of India • Gold reserve • kolar • world gold council

Month: Current Affairs - September, 2020

RBI releases International Investment Position

On June 30, 2020, Reserve Bank of India released its data on International Investment Position, IIP. Highlights According to the data, the direct investment in the country rose by 19 billion USD and the portfolio investment declined by 13.7 billion ..

Tags: Currency • Currency intervention • foreign aid • Foreign Investment • International Investment Position (IIP)

Month: Current Affairs - July, 2020

Iran: New Currency introduced to tackle Inflation

The Iran Government has recently come up with the decision of changing the name of the its currency to toman. The unit of Iranian currency if Rial. According to the Iranian Government, one Toman is 10,000 rials. Highlights Gheran is ..

Tags: Currency • Gheran • Inflation • Iran • Rial

Month: Current Affairs - May, 2020