The Rs. 2,000 note is being phased out of circulation but will remain valid currency until September 30.

A circular from the Reserve Bank of India dated May 19 announced the withdrawal of Rs 2,000 currency notes from circulation. The memo said that the notes will remain valid tender until September 30. According to the document, the RBI's "Clean Note Policy" necessitates the change. Th...

According to the RBI, SBI, ICICI Bank, and HDFC Bank continue to be domestic systemically important institutions.

The State Bank of India, ICICI Bank, and HDFC Bank are still considered to be Domestic Systemically Important Banks, according to a statement from the Reserve Bank of India on Monday (D-SIBs). The central bank had first released a framework for handling D-SIBs in July 2014, which obliged it to re...

AMBANI TO PARTNER WITH FACEBOOK AND GOOGLE

HIGHLIGHTS

• Mukesh Ambani is going to forge a partnership with Facebook and Google.
• Three partners seek to obtain a license to enter India’s digital payments business.

Reliance Industries Ltd., led by Asia’s richest man Mu...

IKIGAI LAW RESPONDS TO DRAFT OF NATIONAL STRATEGY ON BLOCKCHAIN

HIGHLIGHTS

• In JAN 2021, the MEITY released a draft National Strategy on Blockchain.
• Identifying the potential for adoption of blockchain in IndiaThe draft strategy, the draft talks about envisaging creation of a 'National Level Blockchain Framewor...

INDIAN GOVT. LOOKING AT BANNING CRYPTOCURRENCIES VIA BILL

Highlights:

•             Reserve Bank of India is looking at setting up a framework to launch digital currencies

•             Risks of the crypto...

COVID-19 AFFECTED 70% OF BANKING SECTOR DEBT

HIGHLIGHTS

• Due to COVID-19 outbreak, Indian government implemented a lockdown to prevent further spread of infection.
• With all economic activities coming to a halt, economy received a big time jolt.
• A report by the Reserve Bank of India has...

LORETTA MESTER CALLS ON CONGRESS FOR MORE HELP ON THE CORONAVIRUS PANDEMIC

Highlights

• The rise in cases has increased dangers to the economy
• On an annualized basis, it slumped nearly 33% in the second quarter

On Wednesday, Loretta Mester called for more help from Congress. She said that the central bank sta...

SPECIAL OMO OF GOVT SECURITIES WORTH RS 10,000 CRORE ANNOUNCED BY THE RBI

Highlights

• The RBI will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on July 2, 2020

• As a temporary measure, the RBI has already increased the borrowing limit of scheduled banks under its MSF scheme

...

RECOVERY HOPES FOR INDIAN ECONOMY NOW LIES ON RESERVE BANK OF INDIA

Highlights

• RBI’s interest rate decision due on Feb 6
• In terms of short-term growth stimulus, budget fell short

The budget 2020-21 was presented on February 1. It was presented by Finance Minister, Nirmala Sitha...

The plan is expectedly giving NBFCs extra lending capacity

Whenever an individual or an organization has to keep its fiancés meet the ends banks are the saviors.   The bank is an institution that runs to deal with all the issues that are based on the finances in the country. All the citizens are linked to banks and get benefit from that....

Digital India initiative has yet not worked as planed

While' Digital India ' has been a Modi government flagship initiative, digital divide caused by poor connectivity remains one of the major roadblocks in India's use of financial services. With technology becoming an important enabler for access to financial services, certain regions i...

Appeal for incentive amongst industrial crash

For the first time in the consecutive months since 2015, Australian manufacturing activity contracts fresh calls for a fresh boost. Industry groups say that a year-end downturn in production represents a clear warning that there is an increasing risk of a broader economic downturn.

In D...

Disaster protection Corp of India increases 2018-19 provisioning by 30%

MUMBAI: State-claimed Life Insurance Corp of India (LIC) has raised arrangements for suspicious resources by 30% to Rs 23,760 crore for the year finished March, it said in its just-discharged yearly report. This came in the wake of looking into resource quality and the exhibition of interests in ...

Fintech, insurance companies can control CPS directly

Mumbai: Reserve Bank of India (RBI) is considering the possibility of providing direct access to processing RTGS and NEFT transactions in line with global best practices to non-bank players such as fintech and insurance companies.

Citing the examples of England and Switzerland's ban...

For the fourth straight month, US manufacturing slides temper economic growth expectations

US manufacturing production contracted in November for a fourth straight month as new orders fell back to their lowest level since 2012, while infrastructure expenditure plummeted in October, tempering the economy's momentum fanned by a recent run of optimistic results.

Monday (Dec ...

Where's the cash?' Zimbabwe' s new banknotes neglect to show up

Banks state there is no correspondence from the national bank on crisp delicate expected to ease money crunch and battle expansion. Amazing failure group banknotes touted by the administration of Zimbabwe as the answer for the intense money lack devastating the nation's economy neglected to l...

India: decision made regarding the restricted credit improvements For NBFCs

To decrease the load on banks for financing arrangement projects, and to endorse the practice of the commercial bond market for this use, the Reserve Bank of India (RBI) allowed banks to offer partial credit enhancements (PCEs) to commercial bonds in 2015. Partial credit enhancements were aimed t...

RBI banners inadequacies at Ujjivan Small Finance Bank

In its ongoing investigation report, the Reserve Bank of India has mentioned specific objective facts concerning Ujjivan Small Finance Bank's absence of extortion, the board framework, rating procedure, and categorization of need division credits among numerous others. The bank has recorded s...

Dollar plunges after Fed cuts, however, shows a delay

Nourished cuts rate by 25 bps true to form yet flag a potential delay. The dollar plunged against a bushel of significant monetary forms on Thursday, turning around prior additions, after the Federal Reserve cut financing costs for the third time this year yet flagged its rate-cut cycle may be at...

Deposit cover insurance to be raised

The deposit cover insurance has been a hot topic in India over the past couple of weeks and has caught the attention of the major banking systems, and they have decided to make a change as no change will encourage people to achieve different insurances that will change the insurance sector of the...