Page-8 of Topic: Reserve Bank of India
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...
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...
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...
Rajeshwar Rao appointed the new Deputy Governor of RBI
On October 7, 2020, the Government of India appointed M Rajeshwar Rao as the new Deputy Governor of Reserve Bank of India. The post fell vacant in March... GoI appoints Monetary Policy Committee Members
On October 5, 2020, the Government of India appointed economists Jayant R Varma, Shashank Bhide and Ashima Goyal as members of Monetary Policy Committee (MPC). Their appointments were... RBI to introduce Positive Pay System to check Cheques
The Reserve Bank of India is to introduce “Positive Pay System” from January 2021. The system makes it mandatory to re-confirm key details of cheques that need payments...
RBI releases Cyber Security Vision Framework for Urban Cooperative Banks
On September 25, 2020, the Reserve Bank of India released Cyber Security Vision Framework for Urban Cooperative Banks (UCBs). The apex bank has taken four different guiding principles...
Banking Regulation (Amendment) Bill, 2020
The Banking Regulation (Amendment) Bill, 2020 which is an amendment to the Banking Regulations act 1949, was passed in Parliament. The Bill replaces the Banking Regulation (Amendment) Ordinance, 2020...
Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha
On September 19, 2020, the Rajya Sabha passed the Insolvency and Bankruptcy code (second Amendment) Bill 2020. According to the new amendment, fresh insolvency proceedings will not be...
What is Digital Payment Index?
The Reserve Bank of India (RBI) announced on September 10, 2020 that a Digital Payments Index (DPI) will be launched. The index will assess and capture the extent... RBI to conduct simultaneous purchase & sale of govt securities under OMO for Rs 10,000 crore
The Reserve Bank of India (RBI) have decided to conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore. Key...
