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 …
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 …
About MPC The Monetary Policy Committee (MPC) is a committee of the RBI which is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to contain inflation within the specified target level. Under the flexible inflation …
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 …