Reserve Bank of India (RBI) Statement sets out various developmental and regulatory policy measures | Current Affairs | Vision IAS
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    Reserve Bank of India (RBI) Statement sets out various developmental and regulatory policy measures

    Posted 06 Apr 2024

    2 min read

    • The measures include:

     

    DevelopmentDescription
    Trading of Sovereign Green Bonds (SGrBs) in International Financial Services Centre (IFSC)
    • At present, foreign portfolio investors are permitted to invest in SGrBs under different routes for investment by FPIs in government securities. 
    • SGrBs are bonds issued by governments to fund environmentally sustainable projects.
    RBI Retail Direct Scheme - Introduction of Mobile App
    • RBI Retail Direct Scheme, launched in 2021, gives access to individual investors to maintain gilt accounts with RBI and invest in government securities.
    Dealing in Rupee Interest Rate Derivative products – Small Finance Banks (SFBs) 
    • Currently, SFBs are permitted to use only Interest Rate Futures (IRFs) for proprietary hedging.
      • IRF  contract allows the buyer and seller to lock in the price of interest-bearing asset for a future date. 
    • Interest Rate Derivative is a financial derivative contract whose value is derived from one or more interest rates, prices of interest rate instruments, or interest rate indices.
    Enabling UPI for Cash Deposit Facility
    • Facility of cash deposit is presently available only through use of debit cards. 
    • Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India to facilitate inter-bank transactions.
    Distribution of Central Bank Digital Currency (CBDC) through Non-bank Payment System Operators
    • Presently, CBDC pilot project is going on for Retail and Wholesale segments. 
    • CBDC is a digital form of currency notes issued by a central bank.
      • CBDC is referred as e₹ (digital Rupee).
    • Tags :
    • RBI
    • Reserve Bank of India
    • Unified Payment Interface (UPI)
    • Sovereign Green Bonds (SGrBs)
    • Small Finance Banks
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