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Expected Loss-based Approach for Bad Loan Provisioning
The Reserve Bank of India (RBI) has outlined its plans for the upcoming financial year, 2023-24. Among the proposed measures to strengthen the bad loan resolution ecosystem is the introduction of an expected loss-based approach for provisioning. This method allows ..
Month: Current Affairs - May, 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
What is C-KYC Database?
The Reserve Bank of India (RBI) has recently classified the Centralised Know Your Customer (c-KYC) database as high risk, posing challenges for financial institutions. This move has prompted banks to explore alternative methods for customer authentication, such as video KYC ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024
RBI Withdraws Rs.2,000 Denomination Notes
The Reserve Bank of India (RBI) has recently taken a significant step by withdrawing the Rs 2000 banknotes from circulation. Reasons for the Withdrawal The RBI has decided to withdraw Rs.2,000 notes as it has fulfilled the currency requirement objective ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024
‘100 Days 100 Pays’ Campaign
The Reserve Bank of India (RBI) recently announced the launch of the ‘100 Days 100 Pays’ campaign on June 1. This campaign aims to trace and settle the top 100 unclaimed deposits in every bank across all districts within a ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024
RBI Deadline for Transitioning to Alternative Reference Rate
The Reserve Bank of India (RBI) has recently issued a directive to banks and financial institutions, urging them to adopt an Alternative Reference Rate by July 1. This transition comes as part of a global effort to move away from ..
Month: Current Affairs - May, 2023
Category: Economy & Banking Current Affairs - 2024