RBI
Currency Demand Paradox
The currency demand paradox, often referred to as the “paradox of banknotes,” is a phenomenon where the value of banknotes in circulation increases despite a decline in their use for payments. This intriguing trend has been observed in several nations ..
Month: Current Affairs - June, 2023
Category: Economy & Banking Current Affairs - 2024
Lightweight Payment and Settlement System
The Reserve Bank of India (RBI) is paving the way for a lightweight payment and settlements system, which it aptly calls a “bunker.” The Purpose of the Lightweight Payment System The RBI envisions the lightweight payment system as a means ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024
RBI gives licenses for 32 payment aggregators
Payment Aggregator is a third-party payment solution provider. For instance, you use YONO SBI to shop on Amazon. Therefore, SBI is an online payment aggregator. Recently, RBI issued licenses to 32 payment aggregators to serve as online payment aggregators. This ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024
HARBINGER 2023: RBI announces 2nd global hackathon
The Reserve Bank of India recently announced the “HARBINGER-2023”. It is a hackathon. The theme of the hackathon is “Inclusive Digital Services”. Competitors from 22 different countries will participate in the hackathon. This includes Israel, the Philippines, Singapore, Sweden, the ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024
MobiKwik launches UPI Payment with RuPay Credit Card
UPI allows users to use multiple bank accounts on the same platform. Till 2022, credit cards couldn’t be used on UPI. In June 2022, the Reserve Bank of India allowed linking credit cards with UPI. Following this, MobiKwik is the ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024
RBI expands scope of TReDS platform
The TReDS is Trade Receivables Discounting System. It facilitates finances for MSMEs. The major drawback of the MSME platform is that they are unable to convert the trade receivables into liquid funds. The TReDS mainly addresses this issue. Trade receivable ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024