Reserve Bank of India (RBI) Current Affairs, GK & News

RBI Data on Bank deposits in FY21

Reserve Bank of India (RBI) released its “Deposits with Scheduled Commercial Banks – March 2021 data” on September 23, 2021. Highlights As per RBI data, Bank deposits have increased by 11.9 per cent year-on-year during 2020-21 as compared to 8.8 per cent in 2019-20. Deposits increased in light of high growth in current account and ..

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RBI allows Ujjivan SFB to form a special committee

Reserve Bank has given its nod to the Ujjivan Small Finance Bank (SFB) to form a special committee of directors on September 15, 2021 in order to oversee the operations in absence of an MD and CEO. Highlights Special Committee of Directors will comprise of three independent directors as its members. This committee will oversee ..

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India-Singapore announces to link UPI and PayNow

India and Singapore have announced the linking of the Unified Payments Interface (UPI) and PayNow, in order to enable users to make instant, low-cost fund transfers. Highlights The project to link the fast payment systems of both the countries was announced by Reserve Bank of India (RBI) and Monetary Authority of Singapore (MAS). This linked ..

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WPI inflation increases to 11.39 per cent in August

The wholesale price-based inflation (WPI) increased marginally to 11.39 per cent in August 2021 due to higher prices of manufactured goods, even though the prices of food articles softened. Highlights Inflation in August got reversed from the easing trend of two months (June and July). WPI remained in double-digit for the fifth consecutive month. In ..

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UPI: 3.55 billion transactions in August

The Unified Payments Interface (UPI) by National Payments Corporation of India (NPCI) recorded more than 3 billion transactions in August 2021. Highlights More than 3 billion transactions were recorded for the second consecutive month in a row. This indicates the increasing trend of adoption of digital payments by consumers amid the Covid-19 pandemic. UPI recorded ..

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