The Reserve Bank on Friday said that 93 percent of Rs 2000 currency notes that were in circulation on May 19 — the day the currency was withdrawn from circulation — have been returned to banks. Until August 31, 2023, the total value of Rs 2000 bank notes received back from circulation will be Rs
Paying through UPI (Unified Payments Interface) has become easier, but the effort to simplify procedures is still ongoing. To pay with conversational UPI, India’s central bank is bringing in artificial intelligence (AI) to make it easier to scan QR codes, click and enter PINs for each transaction. At the Monetary Policy Committee (MPC) meeting, RBI
When studying abroad, healthcare costs can be high, making health insurance a necessity. Many universities in areas such as the US, UK and Canada require incoming students to acquire coverage from local providers, usually in partnership with the institution. These policies tend to only provide coverage while on campus or within the host nation’s boundaries.
A strong increase in hiring activity is expected in the Banking, Financial Services, and Insurance (BFSI) sector in the coming year, with companies planning to hiring 26% more people than they do now. According to Great Place To Work’s Best Workplaces in BFSI in 2023 report, fintech firms led the way with a 41% increase
It is likely that you have seen advertisements promising guaranteed returns in the form of a monthly income after investing for a certain period of time. The ads usually say: If you invest ₹15,000 a month for 25 years, you’ll make ₹40,000. Guaranteed return plans are basically insurance plans. They sound appealing, because who wouldn’t
Are you considering an EV car as your next vehicle? The insurance is more expensive for EV cars than an ICE vehicle. Automobiles are headed in an electric direction. While they may cost a bit more initially, EV can also save money over a longer period of time compared to vehicles that run on petrol
According to economists at Bank of Baroda, India’s central bank RBI may reduce/cut its lending rate twice in the second half of this year (FY24) after raising interest rates by 250 basis points in the last financial year (FY23). As a result, the repo rate will fall to 6%, from 6.5% currently. The economists at
LocalCircles surveyed people who said they find it difficult to spend the biggest denomination of cash, despite many reports that petrol pumps, jewellery stores, and even e-commerce delivery people are being flooded with 2000 notes. According to the central bank of India, this note will cease to be circulated, but it will remain legal tender
A purchase agreement was entered into between First Citizens Bank and Trust Company of Raleigh, North Carolina and Silicon Valley Bridge Bank, National Association, according to the US Federal Deposit Insurance Corporation (FDIC). In a major development in the on-going US banking crisis, First Citizens has acquired Silicon Valley Bank (SVB). As per updates, the
Shaktikanta Das, the governor of the Reserve Bank of India(RBI), gave the country’s banking system a thumbs-up, stressing the importance of banking sector regulation and supervision in light of recent developments in the US. “India has a well-regulated and well-supervised banking sector. The same would apply to the NBFC sector and other financial entities under
