Reserve Bank of India (RBI) Current Affairs - 2020

Rajeshwar Rao- New Deputy Governor of RBI

The Government of India (GoI) has appointed M. Rajeshwar Rao as the new Deputy Governor of Reserve Bank of India (RBI) on October 7, 2020.  The post of deputy governor was vacant since March 2020 after the former Deputy Governor N R Vishwanathan resigned due to health issues. Deputy Governor of RBI The deputy governor Read More…

GoI appointed three Monetary Policy Committee Members

Government of India have appointed economists Jayant R Varma, Shashank Bhide and Ashima Goyal as the new members of Monetary Policy Committee (MPC) which was set up in 2016. The appointments were made after the decision was cleared by the Appointment Committee of the Cabinet chaired by PM Modi. Monetary Policy Committee The MPC prepare Read More…

What is Positive Pay System for Cheques Payments?

The Reserve Bank of India has introduce  a “Positive Pay System”  that will come into effect from January 2021. The system has been launched to make the cheque payment more secure. The system will make mandatory to re-confirm key details of cheques for the payments beyond Rs 50,000. Key facts As per the new system, Read More…

Facts Box: Banking Regulation (Amendment) Bill, 2020

On September 16, 2020, Lok Sabha passed the Banking Regulation (Amendment) bill, 2020. The bill aims to bring cooperative banks under the supervision of Reserve Bank of India. Highlights The bill replaced the Banking Regulation (Amendment) Ordinance, 2020. The ordinance was promulgated in June 2020. It amends the Banking Regulation Act, 1949. It will regulate Read More…

RBI’s power extension to restructure Cooperative banks through the New Banking Regulation (Amendment) Bill, 2020: Important notes

The government introduced the new Banking Regulation (Amendment) Bill, 2020, that intended to give the powers to restructure cooperative banks to the Reserve Bank of India. The power of RBI’s banking regulations will be extended to the cooperative banks after the ratification of the bill. What is Banking regulation? Banking regulation is a type of Read More…