About UPI Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to …
What’s in the news? The RBI recently announced that it considers the Open Market Operation (OMO) sale of government securities to manage liquidity in the system. What’s OMO? The RBI uses Open market operations in order to adjust the rupee …
Context The Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the monetary policy committee (MPC) has decided unanimously to keep the policy repo rate unchanged at 6.50 per cent. MPC is a committee of the RBI which is …
What’s in the news? RBI has decided to discontinue Incremental Cash Reserve Ratio (I-CRR) which was put in place to absorb surplus liquidity following the withdrawal of 2,000 rupees currency notes, in a phased manner. The I-CRR was introduced on …
About the Scheme Sovereign Gold Bonds (SGBs) are bonds that are issued by the RBI on behalf of the Government on payment of rupees but denominated in grams of gold. The value of these bonds is tied to the value …