Reserve Bank of India
India’s Forex Reserves Show Significant Increase
India’s foreign exchange reserves have experienced a notable rise. on November 09, the reserves reached 658.09 billion dollars, an increase of 1.51 billion dollars. This marks the first rise in nine weeks after the reserves had previously fallen to a ..
Month: Current Affairs - December, 2024
Category: Economy & Banking Current Affairs
What is MuleHunter.AI?
The Reserve Bank of India’s innovation unit, RBIH, has introduced MuleHunter.AI, which aims to combat financial fraud effectively and specifically targets mule accounts used in illegal activities. Recent statistics show that online financial frauds account for 67.8% of cybercrime complaints, ..
Month: Current Affairs - December, 2024
Category: Economy & Banking Current Affairs
India’s Foreign Exchange Reserves 2024 – Update
India’s foreign exchange reserves are crucial for economic stability. On November 15, they stood at $657.89 billion which includes $65.75 billion in gold. The reserves had previously reached $675.65 billion on November 8. A decline of $17.7 billion occurred due ..
Month: Current Affairs - November, 2024
Category: Economy & Banking Current Affairs
“Depositor Education and Awareness” (DEA) Fund
Unclaimed deposits in the banking sector have been a persistent concern, prompting regulatory bodies to take proactive steps to protect consumer interests. The Reserve Bank of India (RBI) established the Depositor Education and Awareness (DEA) Fund Scheme in 2014 to ..
Month: Current Affairs - July, 2023
Category: Economy & Banking Current Affairs
UK Treasury Grants Equivalence to RBI-Authorized Clearing Houses
The United Kingdom Treasury has recently made a significant decision to accord equivalence to central counterparties authorized by the Reserve Bank of India (RBI). This move marks a crucial step in resolving a regulatory tussle between the RBI and overseas ..
Month: Current Affairs - June, 2023
Category: International / World Current Affairs
RBI Guidelines on OTS
The Reserve Bank of India (RBI) has recently introduced significant changes to the regulations governing one-time settlements (OTS) and technical write-offs of loans. The RBI has issued detailed guidelines aimed at streamlining the process and ensuring greater accountability in these ..
Month: Current Affairs - June, 2023
Category: Economy & Banking Current Affairs
RBI Guidelines on Default Loss Guarantee
The Reserve Bank of India (RBI) has taken a significant step by allowing a ‘first loss default guarantee’ (FLDG) arrangement between regulated entities and lending service providers. This move aims to enhance the digital lending sector and mitigate credit risks ..
Month: Current Affairs - June, 2023
Category: Economy & Banking Current Affairs
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