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

Zimbabwe to introduce gold-backed digital currency: The Reserve Bank of Zimbabwe (RBZ) has revealed intentions to launch a gold-backed digital currency to combat the decreasing value of the Zimbabwean currency. The digital gold tokens will be a form of electronic money, backed by gold held at the ...

India’s RBI considers softening stance on market infrastructure deal: According to reports, India's central bank is likely to soften its stance on signing a market infrastructure agreement with European authorities if the latter abandon their demand to scrutinise and penalise Indian intermediaries ...

FY23 bank credit growth highest since FY12, up 15%,: RBI data: According to the Reserve Bank of India (RBI) data, the Bank credit rose by 15% year-on-year (YoY) in 2022-23 (FY23), against 9.6% YoY in 2021-22 (FY22). FY23 credit growth is the highest since 2011-12, when it was 19.3%. Bank deposits ...

RBI keeps repo rate unchanged at 6.50%: The Reserve Bank of India (RBI) has announced its bimonthly monetary policy and kept the repo rate unchanged at 6.50%. April 2023 Current Affairs QuizThe GDP is expected to jump 6.5% in the current financial year. Retail inflation is ...

RBI appoints Neeraj Nigam as executive director: On April 3, the Reserve Bank of India (RBI) announced the appointment of Neeraj Nigam as the new executive director (ED). Nigam was previously the regional director of the bank's Bhopal office and will now take on his new role as ED. The RBI made ...