What a digital currency from RBI must get right

Central banks, bar the odd occasion, are seldom known for competing among themselves. The default mode over the past few decades has been to coordinate actions, given the global economy’s inter-connectedness and border-defying financial flows. The odd occasion, though, has been the US Federal Reserve’s breach of this multilateral compact that led to the ‘taper […]

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Attention Bank Customers RBI Changed These Rules Related to FD, Check details Here

If you too have got a fixed deposit (FD) in the bank or are thinking of getting it, then there is important news for you. The Reserve Bank of India (RBI) has changed the important rules related to FD on Friday. RBI has changed the rules of interest on the unclaimed amounts after the expiry of the […]

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Send bank staff in sensitive operations on leave without intimation: RBI

Bankers working in sensitive positions, including treasury operations and currency chests, will get a surprise holiday of at least 10 working days in a single spell every year under the modified risk management guidelines of the Reserve Bank of India (RBI). As a prudent operational risk management measure, banks should have a “mandatory leave” policy wherein the employees posted […]

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Five reasons why India needs to add to record forex pile

  The rise in India’s foreign exchange reserves to above $600 billion may not be enough to beat the challenges looming for Asia’s third-largest economy, according to some central bankers and economists. The pile touched a record $608 billion last month, thanks mainly to the Reserve Bank of India soaking up dollars flowing in as […]

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Got 5 rupee Indian currency note? Here’s how you could earn upto Rs 30000

  New Delhi: A Rs 5 Indian currency note lying idle in your collection box could pave the way for you to earn thousands of bucks just from the comfort of your home. For that you will just need to ensure that the 5 rupee note issued by the Reserve Bank of India (RBI) matches certain criteria. […]

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ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit

The Reserve Bank of India (RBI) has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free ATM transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. Customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from […]

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RBI imposes Rs 6 crore penalty on Bank of India, Punjab National Bank

The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to “Frauds – Classification and Reporting”. A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. In a […]

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