RBI: GK, Current Affairs, Questions, Trivia and News

RBI to extend $400 million Currency Swap Facility to Sri Lanka

The Reserve Bank of India has signed all the necessary documents for extending a $400 million currency swap facility to Sri Lanka to boost the island nation’s draining foreign exchange reserves on account of the coronavirus pandemic around the world. This agreement will remain available till November 2022 In April 2020, RBI said in a ..

RBI launched a 50,000 Crore INR Liquidity Window to support Mutual Funds

The RBI has announced a special liquidity window of 50,000 crore INR for mutual funds in light of Franklin Templeton closing down 6 of its debt funds due to lack of liquidity. High Risk Mutual Fund Mutual funds are investment vehicles where money is pooled from several investors and invested in various securities by a ..

Ways and Means Advances

The RBI announced a 60% increase in WMA limit over the March levels for state governments to enable COVID-19 containment and mitigation efforts and plan their market borrowings. About WMA Ways and Means Advances or WMA is a mechanism used by RBI to help states overcome temporary mismatches in their receipts and payments. It is ..

SC Ruling on Cryptocurrency Ban

The Supreme Court quashed ban on cryptocurrency imposed by the Reserve Bank of India. This is expected to revive the almost extinct industry in India. Cryptocurrency Cryptocurrency is a virtual or digital currency secured by cryptography. Its notable features include decentralised structure (no central authority), security and transparency. It is based on the blockchain technology. ..

‘Mani App’ for Visually Challenged launched by RBI

India’s central bank, Reserve Bank of India(RBI) has launched a mobile app named ‘MANI’ on Wednesday, 1st January 2019 that will help in identifying the denomination of currency notes for the visually challenged persons. MANI stands for Mobile Aided Note Identifier is available for download from Google Play Store and Apple app store- iOS operating ..

Currency Swap Agreement Framework revised For SAARC

The Reserve Bank of India (RBI) has decided to further economic cooperations within the South Asian Association for Regional Cooperation (SAARC) member countries, the framework on currency swap agreement has been revised on Tuesday, November 26, 2019. The currency swap facility for the SAARC member countries came into effect on 15th November 2012. The current ..

Slowdown effects more pronounced in India: IMF

The new International Monetary Fund (IMF) chief Kristalina Georgieva warned that the global economy is witnessing ‘synchronised slowdown’ which will result in slower growth for 90% of the world this year. The largest emerging market economies like India are experiencing an even more pronounced effect of the global downturn. Despite this overall deceleration, close to ..

RBI rejects Lakshmi Vilas Bank-Indiabulls Housing Finance merger plan

The Reserve Bank of India (RBI) rejected the merger proposal between Lakshmi Vilas Bank and mortgage lender Indiabulls Housing Finance Limited. If the RBI would have approved the move, this would have been the first-ever incident where a non-bank lender would have merged with a bank in the country. Poor Performance of banks: Both Lakshmi ..