The withdrawal limit of Punjab and Maharashtra Cooperative (PMC) Bank has been increased upto Rs.50000 per account by RBI
- This announcement has been made by Central Bank after checking the liquidity position of the bank.
- This will allow the depositors to withdraw their entire account balance.
The Central Government is going to infuse a fund of Rs.10000crores for the stalled real estate
- The aim is to boost the real estate sector which was struggling due to liquidity crisis.
- Apart from the Government’s fund, SBI and LIC will also contribute Rs.15000crore to boost the sector.
Government e-Marketplace (GeM) has signed a MoU with Central Bank of India
- This will enable Central Bank to provide an array of services including the transfer of funds through GeM pool accounts to the users.
- This will promote paperless, contactless and cashless transactions.
- GeM has signed MoU with 18 public and private sector banks.
RBI has increased the household income limits for the borrowers of Non-Banking Financial Companies (NBFC) and Microfinance institutions (MFIs)
- It has been increased from Rs.1 lakh to Rs.1.25 lakh.
- This will strengthen the credit system in rural areas.
- For urban and semi-urban areas, the limit has been increased from Rs.1.6 lakh to Rs.2 lakh.
Karnataka Gramin Bank has launched Mobile ATMs in Kalaburagi, Karnataka
- It aims to create awareness among farmers about the use of digital ATMs and also about bank schemes.
- The project has been assisted by NABARD.
- It will boost digitization in rural areas.
Amazon has introduced ‘Project Zero’ in India
- The aim is to ensure that customers receive authentic goods.
- This will block the selling of counterfeit goods on the platform of Amazon.
- Project Zero is a combination of three powerful tools-Automated protection, self-service and product serialization.
A global pilot demo of BHIM-UPI QR based payment was presented at the Singapore Fintech Festival on 13th November 2019
- It is an achievement of Fintech Cooperation between India and Singapore.
- Under this pilot run, the first transaction was demonstrated by the High Commissioner of India to Singapore-Jawed Ashraf.
- This project is being developed by the National payment corporation of India (NPCI) in collaboration with Singapore’s Network for Electronic Transfer.
