March Flashcards
Paytm payments Bank
Reserve Bank of India has directed Paytm Payments Bank Ltd to stop, with
immediate effect, onboarding of new customers under “section 35A” of the
Banking Regulation Act, 1949.
Financial action task force (FATF)
Hq - Paris, France
inter-governmental body
,1989
- The objectives
-set standards and promote effective
implementation of legal, regulatory and operational measures for combating
reviews Anti-Money Laundering (AML)/Combating of Financing of
Terrorism (CFT) techniques and *counter-measures, and promotes the adoption and
implementation of appropriate measures globally.
the FATF Plenary, meets three times a year and
updates these statements.
Series IV of Sovereign Gold Bond (SGB) 2016-17:
- Issue date March 17, 2017.
- premature redemption of Gold Bond may be permitted after 5th year
from the date of issue of such Gold Bond on the date on which interest is payable. - Accordingly, the first due date of premature redemption
will be March 17, 2022. - Further, the redemption price of SGB shall be based on the simple average closing
gold price of 999 purity
[ published by the India Bullion and Jewellers Association
Ltd (IBJA) ] - Accordingly, the redemption price for the premature redemption due on March 17,
2022 shall be ₹5313/-
per unit.
Floating Rate Bonds, 2033
The rate of interest on (GOI FRB
2033) applicable for the half year
March 22, 2022 to September 21, 2022
shall be
5.53 percent per annum.
Inauguration of the Reserve Bank Innovation Hub(RB-IH)
- Shri Shaktikanta Das inaugurated the (RBIH) (March 24, 2022) in Bengaluru subsidiary of the RBI.
- As “Section 8 “ company under Companies Act, 2013,
- capital of ₹100 crore
- RBIH would be guided and managed by a Governing Council (GC) led by a
Chairperson. - The Reserve Bank has appointed Shri Senapathy (Kris) Gopalakrishnan, co-founder
and former co-Chairman, Infosys, as the first Chairperson of the RBIH
. - objective behind establishment of RBIH i.e., to bring world class innovation
to financial sector in India, coupled with the underlying theme of financial
inclusion. - The Hub would bring convergence among various stakeholders (BFSI Sector, Start-
up ecosystem, Regulators & Academia) in the financial innovation space.
Series II of SGB 2016-17
Redemption Price
for premature redemption due on
March 29, 2022 (Series II of SGB 2016) and
March
30, 2022 (Series II of SGB 2016-17)
- the redemption price will be ₹5166/- per unit of SGB
RBI Governor lays Foundation Stone of Learning and Development Centre (LDC) of
BRBNMPL @ Mysuru
- Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a
wholly owned subsidiary of RBI, in Mysuru. - LDC is being established with active collaboration from
Security Printing and
Minting Corporation of India Limited (SPMCIL), a wholly owned Schedule ‘A’
Miniratna Category-I company of Government of India and
Bank Note Paper
Mill India private Limited (BNPMIPL), a joint venture of BRBNMPL and
SPMCIL.
- LDC will act as a forum for robust knowledge dissemination, thus ensuring that
the best practices, experiences, and innovations to ensure uniformity in
-banknote production,
-quality
and
-supply. - This centre will be governed by BRBNMPL.
RBI Governor dedicates Varnika Ink Manufacturing Unit of BRBNMPL to the Nation:
- the Ink Manufacturing Unit of Bharatiya Reserve Bank Note Mudran
Private Limited (BRBNMPL), a wholly owned subsidiary of RBI to the nation in
Mysuru. - annual ink manufacturing capacity of
1,500 MT to enhance the security of banknotes. - It is a boost to ‘Make in India’
initiative. It ensures that the entire requirement of banknote printing inks is
produced in-house.
This unit also manufactures Colour Shift Intaglio Ink (CSII)
and meets the entire requirements of banknote printing presses in India, which
has resulted in cost efficiency and self-sufficiency in banknote ink production
