India’s Foreign Exchange touches all time high of 457.468 billion USD

RBI announced that Foreign Exchange Reserves of India has swelled by 2.52 billion USD in the week that ended on December 27, 2019. The Central Bank also said that the country’s special drawing rights with the IMF (International Monetary Fund) ..

Month: Current Affairs - January, 2020

RBI launches MANI application for visually challenged

On January 01, 2020, the Reserve Bank of India launched the MANI application for visually challenged persons to identify new currency notes that were launched after demonetization. MANI is Mobile Aided Note Identifier. Highlights MANI application scans currency notes using ..

Month: Current Affairs - January, 2020

NPL scientists develop ink to stop fake passports and currency notes

The Council of Scientific and Industrial Research (CSIR) and National Physical Laboratory (NPL) developed an ink to combat the problem of fake printing of passports and counterfeiting of currency notes. The ink has a new security feature o protecting itself ..

Month: Current Affairs - December, 2019

Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade ..

Usha Thorat heads RBI task force on Offshore Rupee Markets

The RBI task force on Offshore Rupee Markets (ORM), headed by Usha Thorat, has suggested liberal currency market for offshore users. The panel recommended that onshore market hours may be suitably extended to match the flexibility provided by the offshore ..

US labels China a Currency Manipulator

The US has declared that China as a currency manipulator. The move could further fuel the ongoing trade war between the two countries. The US has alleged that China’s Central Bank is pushing for depreciation of Yuan as retaliation for ..