If you’re preparing for a banking exam in India, you’ll want to stay up to date on the latest news and developments in the industry. Here are some of the latest updates to help you prepare for your upcoming exam:
- RBI’s Retail Direct Scheme: The Reserve Bank of India (RBI) has recently launched a new scheme called the Retail Direct Scheme, which allows individual investors to directly purchase government securities. This move is aimed at making the government securities market more accessible to retail investors and increasing their participation in the market. As a banking aspirant, you should be aware of the scheme and its implications for the banking industry.
- New Guidelines for Auditors: The RBI has proposed a new set of guidelines for the appointment of auditors in banks. The proposed guidelines require banks to appoint two auditors, with at least one of them being a Chartered Accountant. The guidelines also require auditors to have a cooling-off period of three years before they can be reappointed. This is an important development that you should be aware of if you are preparing for a banking exam.
- SBI’s YONO Merchant: State Bank of India (SBI), the country’s largest lender, has launched a new digital platform called YONO Merchant. The platform aims to provide small merchants and retailers with a range of digital banking services, including accepting payments through Unified Payments Interface (UPI), QR codes, and other digital payment modes. As a banking aspirant, you should be familiar with SBI’s digital initiatives and the impact they can have on the banking industry.
- Extension of NUE Framework Deadline: The RBI has extended the deadline for the implementation of the New Umbrella Entity (NUE) framework, which aims to create a new payment system infrastructure in the country. The deadline has been extended from February 2023 to August 2023, to allow more time for the applicants to comply with the guidelines. This is an important development that you should be aware of if you are preparing for a banking exam that covers payment systems and infrastructure.
Keeping up with the latest news and developments in the banking industry is essential if you want to succeed in your banking exam. By staying informed about the latest updates, you can be better prepared to tackle the questions that will be asked on your exam.
