Australian Grand Prix

Ferrari driver Charles Leclerc Won Australian Grand Prix Winner. 

Winner's of Korea Open Batminton

Korea Open Badminton🏸 Open held in Suncheon. 

Men's Singles Winner - Weng Hongyang, China

Women's Singles Winner - An Se-Young, South Korea. 

RBI Bimonthly Monetary Policy April 2022

RBI Bimonthly Monetary Policy April 2022 with no change in Key rates. 

Repo Rate : 4.00%

Reverse Repo : 3.35%

MSF : 4.25%

CRR : 4.00%

SDF : 3.75%

Inflation projection for FY 2022-23 is 5.70%

GDP projection for FY 2022-23 is  7.20%

RBI has introduced a non-collaterlised Standing Deposit Facility (SDF) to absorb surplus liquidity from Banking system at a higher interest rate. 

SDF rate replaced Fixed rate reverse repo for Liquidity Adjustment Facility (LAF). 

Digital Banking Unit's (DBUs)

RBI has permitted Scheduled Commercial Banks to open Digital Banking Unit's (DBUs) in Tier I to Tier VI centers. 

Union Budget announcement for FY 2022-23 for the setting up of 75 DBUs in 75 Districts to mark 75 years of India's Independence. 

A DBU is a special fixed point Business Units / hub / Business Outlets with minimum digital infrastructure for delivering digital banking products and services to improve digital banking strategy of Banks. 

Products offered by DBU should cover assest and liability side in Balance sheet. 

Liability side coverage by account opening, Digital Banking kits for customers and merchants. 

Assest side to enable making applications for onboarding new retail, MSME and Government sponsored schemes covered under national portal. 

Services to allow cash withdrawal and cash deposit thru ATMs and cash deposit machine. Passbook printing, statement generation, internet banking kiosk, transfer of funds and updation of KYC/V-CHIP (Video KYC) etc... 

India's Growth Projection

ADB projects India FY 2022-2023 growth at 7.5%.

Inflation rate at 5.8 in FY 2022-2023.