Page-7 of Reserve Bank of India (RBI)

UPI: 6 billion transactions in July 2022

The National Payments Corporation of India (NPCI) recently released data on Unified Payments Interface (UPI). According to this, UPI crossed more than 6 billion transactions in July 2022. It is the highest since UPI platform was launched in 2016. Key Findings ..

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RBI: Relaxations in Card Storage Norms

Reserve Bank of India (RBI) recently revised its guidelines on payment aggregators as well as reopened the window to grant licences until September 30, 2022. Before the new guidelines, online non-bank payment aggregators (PAs) were needed to apply to RBI ..

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Bandhan Bank opens currency chest in Deedargunj

Bandhan Bank recently inaugurated its currency chest in Deedargunj, Patna. It is the first ever currency chest of the Bandhan bank. It will help in cash management for ATMs and branches in Patna. Key features of the currency chest of ..

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IMF World Economic Outlook- Update

India’s economic growth forecast has been reduced from 8.2% to 7.4%. The International Monetary Fund (IMF) released India’s growth prediction in its World Economic Outlook on July 26, 2022. Key Findings of the IMF’s Outlook: India’s economic growth forecast was ..

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RBI: Four-tiered regulatory for Urban Cooperative Banks

On July 19, 2022, a simple four-tiered regulatory framework was adopted by the Central Bank, for Urban Co-operative Banks (UCBs). Key Facts The RBI adopted the framework on the basis of size of deposits. This move is aimed at strengthening their financial ..

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Rise in ECB limit under Automatic Route

On July 6, 2022, the Reserve Bank of India (RBI) has liberalised the norms further in order to increase foreign exchange inflows. Key Facts The central bank has also increased the borrowing limit for ECB under automatic route by two ..

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