With 132.34 metric tonnes (MT) of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. Also, RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020, it bought 41.68 MT of gold while in 2021 and 2022 (till September […]
The rupee plunged 61 paise to decline below the 83-mark for the first time against the US dollar on today amid unabated foreign capital outflows and a strong dollar in the overseas markets. Besides, rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local […]
E-rupee or digital rupee is a digital version of the Indian rupee that the RBI is exploring. The RBI has proposed to issue two versions – wholesale for interbank settlement and retail for the public. According to the indirect model proposed by the RBI, you will hold the digital rupee […]
In the august meeting of the committee of the apex bank, the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points to 5.4 per cent, its third hike in the current financial year continuing its fight to tame stubbornly high inflation. The decision of the six-member […]
The Reserve Bank of India (RBI) is India’s central bank, also known as the banker’s bank.The RBI controls the monetary and other banking policies of the Indian government. The Reserve Bank of India (RBI) was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. […]
The Reserve Bank on Saturday came up with revised long format audit report (LFAR) norms with a view to improving efficacy of internal audit and risk management systems. The LFAR, which applies to statutory central auditors (SCA) and branch auditors of banks, has been updated keeping in view the large […]
After one and a half years of resignation, citing the personal reasons, Urjit Patel has now revealed the real reason of his resignation. In his book Overdraft- Saving the Indian Saver, he has explained that “the moves to dilute the Insolvency and Bankruptcy Code” led the cause of his sudden […]
Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. The most important feature of a cryptocurrency […]
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