Reserve Bank of India Current Affairs, GK & News

Reserve Bank of India

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission. This commission submitted its report in the year 1926, though the bank ..

India’s foreign exchange reserves increased by USD 2.039 billion

As per RBI data, India’s foreign exchange reserves increased by USD 2.039 billion in the first week of October 2021. Highlights Foreign exchange now stands at USD 639.516 billion. In the last week of September, reserves had dropped by USD 1.169 billion, accounting for a reserve of USD 637.477 billion. It had increased by USD 8.895 ..

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Digital Payments grew 30.19% during the Financial Year ended March 2021: RBI

RBI data has showed that digital payments in India have recorded a growth of 30.19% during the financial year which ended on March 2021, Highlights The newly constituted Digital Payments Index (RBI-DPI) in its report said that at the end of March 2021, the index rose to 270.59 from 207.84 the previous year. The RBI-DPI ..

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India’s Forex reserves touch all-time high of $612.73 billion

In the week ended 16th July, India’s foreign exchange reserves rose by $835 million to touch a record high margin of $612.73 billion. In the week ended 9th July the reserves had surged to $611.895 billion from $1.883 billion.   Highlights The increase in Forex reserves was due to the rise in foreign currency assets ..

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‘RBI Retail Direct’ scheme- Highlights

Reserve Bank of India (RBI) introduced “RBI Retail Direct facility” scheme on July 12, 2021. What is Retail Direct Scheme? RBI’s Retail Direct Scheme is a one-stop solution to facilitate investment in Government Securities (G-Sec) by individual investors. Under this scheme, retail investors will be provided a facility to open and maintain Retail Direct Gilt ..

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Federal Bank CEO re-appointed

Federal Bank shareholders have approved the motion of re-appointment of Shyam Srinivasan as managing director and chief executive officer (CEO) of the federal bank. Highlights He has been re-appointed CEO for a period of three years, which will come into effect from September 23, 2021 till September 22, 2024. Reserve Bank of India (RBI) approved ..

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