In a major update, the Reserve Bank of India (RBI) announced that 98% of the ₹2,000 notes have been returned since their withdrawal in May 2023. This has led to the total value of the denomination in circulation dropping significantly from ₹3.56 lakh crore to ₹7,117 ...

The Reserve Bank of India (RBI) has initiated its third global hackathon, HaRBInger 2024 – Innovation for Transformation, aimed at developing innovative tech-based solutions to predict, detect, and prevent financial frauds in real-time. The hackathon features two key themes: ...

The Reserve Bank of India (RBI) Governor Shaktikanta Das has unveiled three major initiatives: the Pravaah portal, the Retail Direct Mobile App, and a FinTech Repository. These initiatives, previously announced in the RBI’s bi-monthly Statement on Development and Regulatory Policies in April 2023, ...

RBI released direction for the settlement of loan account: The RBI has asked all banks, non-banking finance companies (NBFCs) and asset reconstruction companies (ARCs) to release all the original movable/immovable property documents and remove charges registered with any registry within a period ...

BIS and RBI Announce G20 TechSprint 2023 Winners: The Bank for International Settlements (BIS) and the Reserve Bank of India (RBI) have recently unveiled the winners of the G20 TechSprint 2023 challenge in a prestigious award ceremony held in Mumbai. This project, established by the RBI last May ...

RBI approves merger of Akola Merchant Co-operative Bank: The Reserve Bank of India (RBI)  approved the merger of The Jalgaon Peoples Co-operative Bank and Akola Merchant Co-operative Bank.   Aim: To streamline operations and services for customers under a unified entity. Daily Current ...

Reserve Bank of India (RBI) Introduces Reforms for Transparent Home Loan EMIs: In a significant move aimed at enhancing transparency and consumer protection in the home loan sector, the Reserve Bank of India (RBI) has introduced a comprehensive set of reforms pertaining to floating rate home ...

RBI: Digital payments rise 13% YoY at March-end 2023: According to the RBI's index measuring the adoption of online transactions, digital payments in the country witnessed a year-on-year growth of 13.24% until March 2023.  Daily Current Affairs Quiz: July 2023 The RBI's Digital Payments ...

RBI cancels licence of 2 cooperative banks: The Reserve Bank of India (RBI) has cancelled the licence of two cooperative banks -- Sri Sharada Mahila Co-operative Bank, Tumkur, Karnataka and Harihareshwar Sahakari Bank, Wai, Satara. Reason: As the lenders do not have adequate capital and earning ...

RBI Imposes Penalties on Axis Bank, J&K Bank, and Bank of Maharashtra