Page-3 of Reserve Bank of India (RBI) Current Affairs, GK & News

RBI introduced Financial Inclusion Index

The Reserve Bank of India introduced the financial inclusion index on August 17, 2021. Key Points The Financial Inclusion Index will be used to capture the extent of financial inclusion in India. This index was part of the announcements made in first bi-monthly monetary policy of April 2021. About Financial Inclusion Index (FI Index) Financial ..

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Deposit Insurance Credit Guarantee Corporation Bill 2021 to be introduced

On 28th July, 2021, the Union Cabinet cleared changes to the deposit insurance laws of the country. According to these changes up to Rs 5 lakh of funds will be provided to an account holder within 90 days in the event of a bank being put under moratorium by the RBI. Key Points Previously, account ..

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India: 5th largest Forex reserve holder in the world

As of 25th June, 2021, India has surpassed Japan, China, Russia and Switzerland to become the world’s fifth-largest foreign exchange reserve holder with $608.99 billion. This was mentioned in the Lok Sabha on 20th July, 2021 by Pankaj Choudhary, MoS Finance.   Key Points The Reserve Bank of India and the Government of India are ..

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Bank staff in sensitive operations to get surprise leave

Under Modified Risk Management guidelines of Reserve Bank of India (RBI), Bankers working in sensitive positions such as treasury operations and currency chests, will get surprise holiday of at least 10 working days in a single spell per year. Highlights This will be done as a prudent operational risk management measure. Holiday will be given ..

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RBI asks banks to stop Libor soon

Reserve Bank of India (RBI) issued an advisory to banks and other financial institutions to be prepared for year-end transition from London Interbank Offered Rate (Libor). Transition from Libor Global transition from Libor became necessary because banks were manipulating rate in 2007-08. Following the incident, investigation was led by Financial Services Authority (FSA) of Britain. ..

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