Tag: Currency

How RBI’s booster dose will fill up forex reserves and arrest rupee’s fall?

The Reserve Bank of India (RBI) Wednesday took the first step to attract dollar inflows amid an unabated outflow of portfolio funds, seeking to salvage the sinking rupee from its lifetime lows against the US currency and conserve a fast-depleting foreign exchange stockpile assiduously accumulated when global liquidity was plentiful. The central bank eased several…

Read more...
Bank Promotions – Latest Banking Updates (As on 31.05.2020)

This booklet entitled ” Latest Banking Updates – Bank Promotions (Updated as of 31.05.2020)” has been prepared with an intention to provide ‘Latest Developments in Banking and Financial Sector’ for the enrichment of Bank’s Staff, the Banking knowledge and Banking Developments taking place in present day scenario, when the entire Banking Industry is facing heavy Turbulence in the form of huge NPA and mounting losses.

Read more...
Assessment of the progress of digitisation from cash to electronic

The digital revolution is taking the world by storm and no other area has witnessed such metamorphosis as payment and settlement systems, resulting in a myriad of digital options for the common man. Consumers now have a range of options to choose from when selecting a payment method to complete a transaction. They make this selection based on the value they attribute to a payment method in a certain situation as each payment mode has its own use and purpose. Non-cash payments, especially those using electronic or digital modes are rapidly increasing.

Read more...
Rupee closes at all-time low of 72.97 a dollar

The rupee closed at an all time low of 72.97 a dollar, down 0.63% from its Monday’s close of 72.51. The home currency opened at 72.60 per dollar.So far this year, the rupee has weakened 12.5%, while foreign investors have sold $784.50 million and $6.38 billion in equity and debt markets, respectively.

Read more...
Yuan edges lower as US fires fresh trade salvo; stimulus hopes support stocks

China’s yuan edged lower on Tuesday after US President Donald Trump said Washington will impose duties on an extra $200 billion worth of Chinese imports, sharply escalating the trade fight between the two economic giants.

Read more...
Rupee resumes fall as govt measures fail to click

Experts feel the measures may not have a long-term impact on rupee.The currency tumbled to a new record low of 72.91 on Wednesday, and recovered sharply from those lows to make a high of 71.52 on Friday.

Read more...
India shuts down Bitcoins, other virtual currencies, prohibits any dealing with banks

The Reserve Bank of India on Thursday barred banks and financial institutions from dealing with virtual currencies including Bitcoins and said that it was time and again warning users of virtual currencies regarding the risks associated with it.

Read more...
Rs 200 note launched: Here’s a brief history of Indian bills post Independence

The Reserve Bank of India issued on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. Modern paper currency in India traces its origins to the late 18th century when private and…

Read more...
Demonetisation no ground for banking ombudsman to handle complaints: RBI

Customers’ complaints about problems like cash withdrawal and exchange of old notes faced post demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank has said. 

Read more...
Bitcoin – A New Payment System – Essentially a Digital Money

WHAT IS BITCOIN?Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be…

Read more...