RBI Current Affairs, GK & News

RBI norms for import of Gold

The Reserve Bank of India (RBI) introduced norms for facilitating the physical import of gold through India International Bullion Exchange (IIBX) or any authorized exchange by Qualified Jewellers in India. The exchange should be authorized by the International Financial Services Centers Authority (IFSCA) or the Directorate General of Foreign Trade (DGFT). What is India International ..

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RBI surplus transfer to government – Update (May, 2022)

The Reserve Bank of India (RBI) board recently approved the transfer of ₹30,307 crores to the central government for the financial year 2021-22. This is the lowest dividend in ten years. The huge investments of RBI in reverse repo operations had impacted the dividend. In FY21, RBI transferred Rs 99,122 crore to the central government. ..

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RBI: Cardless cash withdrawal facilities at all ATMs

The Reserve Bank of India (RBI) has directed all banks, ATM networks, and White Label ATM Operators (WLAOs) to provide their customers with the option of Interoperable Card-less Cash Withdrawal (ICCW) across all ATMs in the country. How does this facility work? For Card-less Cash Withdrawal transactions, the Unified Payments Interface (UPI) facility will be ..

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Record Fall of Indian Rupee

On May 9th Indian Rupee fell to its all-time low against the US Dollar, closing at 77.50 per USD. Why did the value of the Indian Rupee fall? Due to rising inflation, US Federal Reserve increased the interest rate. This led to the strengthening of the US Dollar. There is a sustained outflow of capital ..

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RBI Monetary Policy Committee Announcements – Update (May, 2022)

Recently, the Monetary Policy Committee (MPC) held an unscheduled meeting and made some important announcements. What are the announcements? The MPC unanimously decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points to 4.40% with immediate effect. The MPC also decided to maintain the accommodative stance. Which other ..

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