RTGS Current Affairs, GK & News
NEFT, RTGS facility for Post Office Savings Account
The Department of Post has recently rolled out the NEFT and RTGS facility for Post Office Savings Bank Account (POSB) holders. The NEFT facility has been made available from May 18th, 2022, whereas the RTGS facility will be available from May 31st, 2022. What are the benefits? With the launch of the service, Post Office ..
Month: Current Affairs - May, 2022
Category: Banking Current Affairs
Topics: IPPB • NEFT • POSB • Real-Time Gross Settlement (RTGS) • RTGS
Legal Entity Identifier System
The Reserve Bank of India recently announced the introduction of Legal Entity Identifier System. What is Legal Entity Identifier System? The Reserve Bank of India introduced the Legal Entity Identifier system for all payment transactions of fifty crores and above through NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement). The system is ..
Month: Current Affairs - January, 2021
Category: Legal & Constitution Current Affairs
Topics: 2008 financial crisis • Legal Entity Identifier • NEFT • Payment and Settlement Systems Act • Reserve Bank of India (RBI) • RTGS
Current Affairs – Top 10 Terms in News [14 Dec. 2020]
Current Affairs Top 10 Terms in News (December 14, 2020) is a compilation of important terms, jargons and lexicons in news in recent days. Dehing Patkai Wildlife Sanctuary Dehing Patkai wildlife sanctuary is located in Assam. Recently, two elephants, a calf and a female adult, were found dead in the in the Joypur range of ..
Category: Top Current Affairs - 2021
Topics: Artemis Mission • Dehing Patkai Wildlife Sanctuary • Furazolidone • Human Rights Day • International Anti-Corruption Day • Quantum key distribution • RTGS
RBI Monetary Policy Committee Meeting: Key Highlights
The RBI recently held its Monetary Policy Committee meet. During the meet, the Reserve Bank of India has kept the repo rate unchanged at 4%. Repo rate is the rate at which RBI lends to banks. The Reverse Repo Rate is to continue at 3.35%. Key Highlights of the MPC meet The meeting concluded that ..
Month: Current Affairs - December, 2020
Category: Economy & Banking Current Affairs - 2022
Topics: CPI • Economic growth • GDP • GDP growth • Monetary inflation • Monetary Policy • Monetary Policy Commitee • Repo Rate • Reverse Repo Rate • RTGS • V-shaped recovery
NEFT to be available 24X7
The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available for customers from 8 AM to 7 PM on all working days of the week ..
Topics: Banking • Banking in India • E-commerce in India • Economy • Electronic funds transfer • Financial services • National Electronic Funds Transfer • NEFT • Payment and settlement systems in India • Payment system • Real Time Gross Settlement • Reserve Bank of India • RTGS • Wire transfer
Update : Digital Transactions in India
India’s largest bank, the State Bank of India, has waived the NEFT and RTGS transactions on the payments carried on the internet and mobile banking from July 1. This comes on the heels of an earlier Reserve Bank of India order to do away these charges to promote a cash less-cash economy in the country. ..
Category: Economy & Banking Current Affairs - 2022
Topics: Digital transactions • IMPS • MDR • Payments • RTGS