About WMA The Reserve Bank of India (RBI) gives temporary loans to the centre and state governments as a banker to the government. This facility is called Ways and Means Advances (WMA). This facility was introduced in 1997. Thus, WMA …
About RuPay RuPay is the first-of-its-kind global Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. RuPay fulfils RBI’s vision of initiating a ‘less cash’ economy. RuPay is a product of the …
What is the digital rupee? The digital rupee, or the e-rupee, is a central bank digital currency (CBDC) issued by the RBI. It is similar to the physical cash that you hold in your wallet except that the e-rupee is …
What is it? Foreign Exchange Reserve indicates the reserves held by RBI in the form foreign currency assets, gold, SDR and reserve tranche. Components of foreign exchange reserve: Foreign Currency Assets: Currencies of foreign countries are held in foreign exchange …
Definition: Dependency syndrome refers to a situation where local self-governing(LSG) bodies, like Panchayati Raj institutions, rely heavily on external sources of funding, particularly grants from central and state governments, rather than generating their own revenue through local taxation and other …
About Priority Sector means those sectors which the Government of India and Reserve Bank of India consider as important for the development of the basic needs of the country and are to be given priority over other sectors. The banks …
NBFCs An NBFC is a company registered under the Companies Act, 1956 which provides banking services without meeting the legal definition of a bank. They engage in the business of loans and advances, acquisition of shares, bonds, etc. issued by …
News: The Reserve Bank of India (RBI) has changed the definition of Politically-Exposed Persons (PEPs) under its Know Your Customer (KYC) norms, a move that will make it easier for those individuals to carry out various banking transactions, including availing …
About Payments Banks Payments banks are the new age banks with limited facilities. These banks mostly operate through the small vendors and shopkeepers. It exists in between the mobile wallet and regular banks. Payments banks are permitted to set up …
About SDB In 2022, the Reserve Bank of India (RBI) introduced the Standing Deposit Facility (SDF), allowing banks to park their excess funds at a higher rate but without taking any collateral from the central bank. Currently, the SDF rate …