Page-4 of Reserve Bank of India Current Affairs, GK & News

India’s New Central Bank Digital Currency

The Reserve Bank of India (RBI) is in process of examining if India needs a new central bank digital currency (CBDC) and is exploring ways to operationalise the digital currency. Highlights The statement from the RBI has come in the light of gaining popularity of the private digital currencies, virtual currencies and cryptocurrencies. These currencies ..

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Payment Infrastructure Development Funds

The Reserve Bank of India recently announced operational guidelines to Payment Infrastructure Development Funds. The main aim of the funds is to deploy more digital payment infrastructure across tier-3 to tier-6 centres and in the north eastern states. What are the guidelines issued by RBI? The Central Bank has constituted an advisory council under the ..

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Moody’s revises India 2020 GDP forecast to 8.9% contraction

Credit rating agency, Moody’s Investors Service has revised the Gross Domestic Product (GDP) forecast of India to -8.9 percent upwards for calendar year 2020 from the -9.6 percent contraction forecasted earlier. The agency forecasted in September 2020 that India’s GDP will contract by 9.6%. Other Key Points GDP forecast for calendar year 2021 for India ..

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IFSCA approves draft banking regulations at IFSC

International Financial Services Centres Authority (IFSCA) conducted a meeting on November 11 in New Delhi. The IFSC Authority approved the International Financial Services Centres Authority (Banking) Regulations, 2020 in the meeting. The draft banking regulations approved at the meeting opens the way for making rules for the various aspects of banking operations that would be ..

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RBI to set new QR code rules to change payment picture of India

The Reserve Bank of India recently ordered payment system operators (PSO) from launching new proprietor QR code for transactions. The apex Bank asked the PSOs switch to at least 1 interoperable QR code. This is to to use the same QR code across multiple payment applications. This is being done by the Reserve Bank of ..

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