Reserve Bank of India Current Affairs - 2019

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RBI: Payments related Data to be stored only in India

Reserve Bank of India recently clarified that all Payment System Operators (PSOs) shall store entire payment data in systems located only in India. It means that the data related to payments must be stored in systems located only in India. This follows a clarification sought by PSOs on issue of data localization. Key Highlights Background: Read More…

Month:  Categories: Business, Economy & Banking

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India’s Forex reserves rise to a record high of $426.42 billion

As per the data revealed by Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserve rose to a life-time high of $426.42 billion (in week to 21 June 2019) after it surged by $4.215 billion boosted by higher foreign portfolio investments (FPI) and a stable rupee. Key Highlights Background: Earlier, the Forex reserves had Read More…

Month:  Categories: Business, Economy & Banking

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Wilful Defaulters in Nationalised Banks up by 60% in 5 years: Govt

As per a written reply given by Union Finance Minister Smt. Nirmala Sitharaman in Lok Sabha, the number of wilful defaulters in nationalised banks has increased by more than 60% to 8,582 in five years to March 2019. Key Highlights The Finance Minister provided the written reply in Lok Sabha to a question asked that Read More…

Month:  Categories: Business, Economy & Banking

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RBI Deputy Governor Viral Acharya quits before his term ends

Viral Acharya Deputy Governor of Reserve Bank of India (RBI) has resigned from his position 6 months before the end of his term citing reason as unavoidable personal circumstances. Acharya, who joined RBI on 23 January 2017 for a three-year term, was youngest deputy governor of RBI post economic liberalisation. He may now return to Read More…

Month:  Categories: Business, Economy & Banking

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RBI asks banks to grout ATMs to a structure for Security

The Reserve Bank of India (RBI) has asked banks to ensure their ATMs (Automated Teller Machines) are grouted to a structure preferably wall, pillar, or floor by 30 September 2019 in a move to enhance security of cash vending machines. Key Highlights Background: In October 2016, RBI had set up a Committee on Currency Movement Read More…

Month:  Categories: Business, Economy & Banking

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Bimal Jalan led panel defers report on RBI surplus funds

The Reserve Bank of India (RBI) committee led by Bimal Jalan (former RBI governor) constituted for considering guidelines for transfer of central bank’s surplus funds to government delayed submitting its report after lack of consensus among its members. The panel was originally supposed to submit its report in April 2019. Background The RBI committee was Read More…

Month:  Categories: Business, Economy & Banking

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CEA Krishnamurthy Subramanian appointed part-time member in IBBI

Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI). K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a Read More…

Month:  Categories: Business, Economy & BankingPersons in NewsUPSC

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