RBI Current Affairs for Government Exams

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Hello Aspirants,

Here is the RBI related news of the past six months.



RBI

Reserve Bank of India

Headquarters: Mumbai, India

Established: 1 April 1935

Governor: Mr. Shaktikanta Das (25th)

 

 

Apr 2022

 

GDP for FY23 = 7.20%

 

The RBI has decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023.

 

What is the Large exposure lending limit set by the RBI for the Upper layer of NBFC = must not exceed 20% of its capital base.

 

RBI has decided to cut the Ways and Means Advances (WMA) for states and Union Territories to Rs 47,010 crore from Rs 51,560 crore.

 

RBI has imposed how much monetary penalty on Axis Bank for non-compliance on loans and advances, KYC guidelines, and non-maintenance of minimum balances in savings accounts = Rs 93 lakh.

 

Penalty of Rs 2 lakh = The Yashwant Cooperative Bank Limited, Phaltan

Penalty of Rs 2 lakh = Kokan Mercantile Co-operative Bank Ltd., Mumbai

Penalty of Rs 1 lakh = Samata Cooperative Development Bank Limited, Kolkata.

 

 

 

Mar 2022

 

Launched by RBI

·         BE(A)WARE Booklet to enhance public awareness about financial frauds perpetrated on gullible customers.

·         DigiSaathi, a 24×7 Helpline for Digital Payments.

·         UPI123pay, UPI facility for feature phones

 

RBI + Intellect Design Arena Limited = to implement the upgraded version of the ‘Cloud-Native Intellect Quantum Core Banking solution’ to power the next stage of their digital transformation agenda.

 

RBI Innovation Hub (RBIH) + IIT Madras = to work together in developing the ecosystem necessary to support and scale fintech startups in India

 

RBI has inaugurated Reserve Bank Innovation Hub in Bengaluru.

 

RBI has set up the ink manufacturing unit of BRBNMPL named 'Varnika' in Mysuru.

 

Under the Reserve Bank of India Act, 1934 the RBI will regulate and supervise the National Bank for Financing Infrastructure and Development (NaBFID).

 

LivQuik becomes the first Prepaid Payment Instrument (PPI) issuer to have achieved full interoperability as mandated by the RBI for their PPIs.

 

 

 

Feb 2022

 

Financial Literacy week 2022 (observed by the RBI) = 14 to 18 Feb 2022

Theme: Go Digital, Go Secure

 

The RBI has projected conservative real GDP growth of what per cent in FY23 = 7.8 per cent

 

The RBI has cancelled the certificate of registration issued to = PC Financial Services Pvt Ltd.

 

Rank of the RBI in terms of buying Gold among the world’s Central Banks in 2021 = 2nd

 

In February 2022, the RBI has cancelled the licence of which co-operative bank = Independence Cooperative Bank Ltd.

 

The RBI has increased the investment limit in Voluntary Retention Route (VRR) from Rs. 1,50,000 crores to = Rs. 2,50,000 crores.

 

The RBI has approved the re-appointment of Rakesh Sharma as MD & CEO of IDBI Bank.

 

As per the latest Monetary Policy released by the RBI, what would be the NACH mandate limit for TReDS settlements that will fulfil the growing liquidity requirements of MSMEs = ₹3 crore.

 

By which date and year, the RBI has asked the certain class of NBFCs to mandatorily implement 'Core Financial Services Solution (CFSS)' to provide seamless customer interface as well as have a centralised database = September 30, 2025.

 

 

 

Jan 2022

 

As per the latest RBI data, what is the Digital Payment Index (DPI) in September 2021 = 304.06.

The RBI calculate Digital Payment Index (DPI) on basis of which base period = March 2018.

 

As per the latest RBI data, released in January 2022, the total volume of digital payments rose by what percent year-on-year in November 2021 = 57.50 per cent.

 

As per the framework issued by the RBI for allowing offline digital payments what will be the total limit for offline digital transactions on a payment instrument at any point of time = Rs 2,000.

 

Fino Payments Bank has received the RBI's approval for commencing international remittance business.

 

In January 2022, Airtel Payments Bank has been categorised as a scheduled bank by the RBI.

 

Which group of banks were identified as Domestic Systemically Important Banks (D-SIBs) by the RBI for 2021 = State Bank of India (SBI), ICICI Bank and HDFC Bank

 

RBI has cancelled the authorisation certificates of which entities for non-compliance with regulatory requirements = Muthoot Vehicle and Asset Finance Ltd and Eko India Financial Services Private Ltd.

 

RBI has imposed certain restrictions regarding conducting of banking business, for six months on Indian Mercantile Cooperative Bank Ltd located in Lucknow.

 

Who has been appointed as the head of the newly formed ‘fintech department’ for financial technology by the RBI to facilitate innovation, and help identify and address challenges & opportunities in the new-age sector = Ajay Kumar Choudhary

 

 

 

Dec 2021

 

Paytm Payment Bank has received RBI’s approval to operate as a scheduled payments bank.

 

According to data from the RBI, Gujarat becomes the country's leading manufacturing hub.

 

The RBI has decided to allow which banks to conduct Government agency business = Scheduled Payments Banks and Scheduled Small Finance Banks.

 

The RBI has released the draft Master Directions on minimum capital requirements for operational risk as part of convergence of its regulations for banks with Basel III standards. The provisions of these directions shall apply to = All Commercial Banks.

 

The RBI has proposed to enhance the transaction limit for payments through Unified Payments Interface (UPI) for the Retail Direct Scheme (RDS) for investment in government securities and Initial Public Offering (IPO) applications from = Rs 2 lakh to Rs 5 lakh.

 

For cross-border transactions for capital or current account transactions of what amount and above, the RBI made Legal Entity Identifier (LEI) mandatory = Rs 50 crore.

 

What will be the length of the Ganga Expressway, the foundation stone of which was laid down by the PM Narendra Modi = 594 Km.

 

MUFG Bank Ltd belongs to which country on which the RBI has imposed a monetary penalty of ₹30 Lakh for non-compliance with its directions on ‘Loans and Advances – Statutory and Other Restrictions’ = Japan.

 

Appointment

Yogesh Dayal = additional director on the board of RBL Bank by the RBI.

 

 

 

Nov 2021

 

According to RBI, Consumer Price Index or CPI inflation for 2021-22 = 5.3%

 

RBI Integrated Ombudsman Scheme launched by PM N. Modi

·         based on “One Nation-One Ombudsman” provide a multilingual toll-free phone number for all the relevant information on grievance redress.

 

Which committee of the RBI has recommended that the scope of Section 5 of the SARFAESI Act be expanded to permit ARCs to acquire financial assets from all regulated entities, including AIFs, FPIs, AMCs making investment on behalf of MFs and all NBFCs including HFCs = Sudarshan Sen Committee

 

The RBI has announced to introduce the Internal Ombudsman mechanism for non-Deposit taking NBFCs (NBFCs-ND) with asset size of = Rs.5,000 crore.

 

Which company has got in-principle approval from the RBI to set up an account aggregator business under its wholly-owned subsidiary = NSDL e-Governance Infrastructure

 

The RBI has accepted the recommendation of the Internal Working Group constituted under Prasanna Kumar Mohanty to raise the cap on promoters’ stake in private banks from the current 15 % to what percent in 15 years = 26%.

 

The RBI issued a revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at "appropriate time" and act as a tool for effective market discipline. The revised PCA framework will be effective from = January 1, 2022.

 

The RBI has decided to permit banks to offer interest rates on FCNR (B) deposits using widely accepted overnight ‘ARR’ for the respective currency’ with an upward revision in the interest rates ceiling by 50 basis points (bps). ARR = Alternative Reference Rate.

 

first global hackathon “HARBINGER 2021–Innovation for Transformation” organized by RBI, Theme: Smarter Digital Payments

 

Appointment

Nageswar Rao Y = Administrator of the Reliance Capital Ltd (RCL) by RBI.

 

 

 

Oct 2021

 

According to the RBI Monetary Policy Report released in October 2021, what will India’s GDP growth rate for 2022-23 (FY23) = 7.8%.

 

The RBI has increased the daily limit of Immediate Payment Service (IMPS) transactions to what amount from earlier ₹2 lakh = ₹5 lakh.

 

The RBI has granted the National Asset Reconstruction Company (NARCL) the licence to register as an asset reconstruction company (ARC), which is seeking to turn around bad loans worth = Rs 2 trillion.

 

Under which Act, the RBI has granted the National Asset Reconstruction Company (NARCL), which is seeking to turn around bad loans worth Rs 2 trillion, the licence to register as an asset reconstruction company (ARC) = SARFAESI Act 2002.

 

The RBI has removed Indian Overseas Bank (IOB) from the Prompt Corrective Action Framework. IOB was placed under the PCA framework in = 2015.

 

What is the theme of the Fourth Cohort under Regulatory Sandbox as announced by the RBI recently = ‘Prevention and Mitigation of Financial Frauds’

 

The RBI has imposed a penalty of ₹ 1 crore on which payments bank = Paytm Payments Bank.

 

 

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