Heena Sharma Blog

RBI Recruitment 2019: The Reserve Bank of India (RBI) has invited online applications to recruit for 199 vacancies to the post of RBI Grade B (DR) officer through the recruitment examination. The RBI recruitment notification is available on the official website of the RBI, rbi.org.in . The online application process is going to start from September 21, 2019, on on rbi.org.in and the last date to apply for the post of RBI Grade B officer is October 11, 2019. Direct link of RBI job notification 2019 The central bank will conduct the RBI Grade B Phase-I examination for the post of Grade B (DR) General/DEPR/DSIM on November 9, 2019, and RBI Grade B Phase-II examination on December 1, 2019. Candidates who clear the examination will be called for an interview session in January next year. Steps to apply for RBI Grade B recruitment 2019 Visit the official website of RBI on rbi.org.in Click on ‘Recruitment related Announcements’ A new page will appear, and then click o...

The Reserve Bank of India Thursday lowered the economic growth forecast for the current fiscal to 7 per cent due to slowdown in domestic activities and escalation in global trade war. In the April monetary policy, the growth of Gross Domestic Product (GDP) for 2019-20 was projected at 7.2 per cent - in the range of 6.8-7.1 per cent for the first half of the fiscal and 7.3-7.4 per cent for the second part - with risks evenly balanced. Data for January-March quarter 2018-19 indicate that domestic investment activity has weakened and overall demand has been weighed down partly by slowing exports, the RBI said after the meeting of the Monetary Policy Committee (MPC), which decides on key policy rates. Weak global demand due to escalation in trade wars may further impact India's exports and investment activity, it added. Further, private consumption, especially in rural areas, has weakened in recent months. However, on the positive side, political stability, high capaci...

As expected, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) unanimously voted to lower the repo rate by 0.25 per cent in its three-day monetary policy meet, which ended on Thursday. The repo rate that stands at 5.75 per cent post the Thursday’s review is the lowest in nine years. This is the first time in 2019 when all members of the MPC (Dr. Chetan Ghate, Dr. Pami Dua, Dr. Ravindra H. Dholakia, Dr. Michael Debabrata Patra, Dr. Viral V. Acharya and Shri Shaktikanta Das) unanimously decided to reduce the policy repo rate by 25 basis and change the stance of monetary policy from neutral to accommodative. Accommodative stance indicates that the rate increase is off the table, said RBI Governor Shaktikanta Das. “ The RBI policy announcement is exactly on the same lines as expected by most of the market participants. The repo rate cut of 0.25 % and the change of stance from neutral to accommodative is key to supporting the sagging economic grow...

The Reserve Bank of India Thursday said it has done away with charges on fund transfers through RTGS and NEFT routes to boost digital transactions and asked banks to pass on the benefits to customers. The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers up to Rs 2 lakh. Country's largest bank SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for RTGS route. In its statement on developmental and regulatory policies after the Monetary Policy Committee's meeting, the RBI said it levies minimum charges on banks for transactions routed through RTGS and NEFT system for other fund transfers. Banks, in turn, levy charges on their customers. In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the RBI for transactions processed in the RTGS...

The Reserve Bank of India (RBI) has permitted authorised card payment networks to offer card tokenisation services to any third party requesting it. Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiration date and security code. It creates a set of numbers that is used to substitute your card information. This ensures that your card information is not disclosed to the website or merchant you are transacting with. "Services such as the Visa Token Service can help prevent fraud by offering financial institutions, merchants, and third party payment providers, such as digital wallet providers, a secure way to enable mobile and online payments without sharing sensitive account information," said T R Ramachandran, Group Country Manager, India & South Asia, VISA. Tokens can be device-specific, retailer-specific or even use case-specific. It is a service offered by leading card networks all a...

Paytm Payments Bank , which was asked to halt on-boarding of new customers six months ago, is learnt to have resumed the process for signing up new customers after receiving the go-ahead by the Reserve Bank of India . Company’s founder Vijay Shekhar Sharma on Tuesday morning tweeted asking users to open saving accounts at the payments bank. “India’s most sincere bank is here. Welcome 2019 with revolutionary banking of Paytm Payments Bank,” Sharma tweeted an advertisement which has been placed in several newspapers. Back in June, after an audit it had done, the RBI had found lapses in the KYC process employed by Paytm Payments Bank. It also raised concerns around the sharing of financial data of Indian users between One97 Communications, a majority foreign owned firm, and Paytm Payments Bank. The Central Bank had also raised concerns on the credentials of Renu Satti, the then chief executive officer at Paytm Payments Bank, for leading the banking arm. Read More Busi...

RBI has announced recruitment for the posts of officers in Grade 'B' (General) in its official website Current Affairs News : The Reserve Bank of India(RBI) has announced the opening of Grade B officers post- DR, DEPR and DSIM n common seniority group (CSG) streams Interested candidates can start applying for this post in its official website www.rbi.org.in   or click here The last date for submission of application is July 23, 2018. Selection for RBI Grade B officers will be done through a competitive examination in three phases: Preliminary, main examination followed by an interview. Following are the steps to register for the post: Step 1: Click on the 'Direct Recruitment for the posts of officers in Grade ‘B’ (General) - DR, DEPR and DSIM in Common Seniority Group (CSG) Streams – 2018' button from www.rbi.org.in or click here Step 2: Follow the necessary steps given in the 'How to apply' page or click here to know more More inf...