RBI ropes in Amitabh Bachchan for customer awareness campaign to prevent gullible account holders from being duped by fraudsters

Executive Sep 28, 2020 Arundhuti Deshmukh ( Editor: Ekta Joshi ) 2 Shares

Mumbai, Sep 27, 2020: The Reserve Bank has roped in Bollywood megastar Amitabh Bachchan for the customer awareness campaign to prevent gullible account holders from being duped by fraudsters.

Also Read - Reserve Bank of India revises Monetary Policy Committee, Repo Rate remains Unchanged

As part of the public awareness initiative of RBI, the regulator keeps informing about dos and don'ts that have to be followed by customers to transact safely and securely.

Besides its main twitter handle, RBI has another twitter account called ''RBI Says''. Here, Big B shared a message on Sunday (Sep 27, 2020) saying "the cost of awareness is hardly a penny, but ignorance can cost you hard-earned money."

Also Read - RTGS system for real time fund transfer to become available 24x7 from December 2020: RBI

The regulator has been running the campaign for more than a year not only in English and Hindi but in various regional languages for maximum reach. It keeps on repeating the message so that people don't forget their rights and responsibilities.

It also started a Facebook page with the same name in early April. At that time, it also launched a safety campaign advising people to remain healthy and safe by not going to bank branches as the nation was put under lockdown to help contain the spread of coronavirus infections.

Bachchan promoted digital banking during the lockdown period urging people to adopt digital payment and be safe. RBI has emerged as the most popular central bank on twitter, beating the US Federal Reserve and European Central Bank in terms of the number of followers.

RBI's twitter handle has 9.66 lakh followers while the world's most powerful central bank US Federal Reserve has about 6.64 lakh followers.

European Central Bank, the second most powerful monetary authority in the world, has 5.81 lakh followers.

Reserve Bank of India revises Monetary Policy Committee, Repo Rate remains Unchanged

Executive Oct 12, 2020 Neha Bharti ( Editor: Ekta Joshi ) 2 Shares

The Reserve Bank of India revised the Monetary Policy Committee. The repo rate for the month of October remains unchanged. There is no change in time as well; the current repo rate is 4 %. The reverse repo rate has been maintained at 3.35 %. Repo rate is the rate at which the central bank of the country (Reserve Bank of India) lends money to commercial banks in the event of any shortfall of funds. Repo Rate is used by monetary authorities to control inflation. The Monitory Policy Committee...

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RTGS system for real time fund transfer to become available 24x7 from December 2020: RBI

Executive Oct 10, 2020 Jishu ( Editor: Ekta Joshi ) 2 Shares

Reserve Bank of India (RBI) governor Shaktikanta Das on Friday (October 9,2020) said that online transfer of funds via Real Time Gross Settlement (RTGS) will be available round-the-clock from December 2020.The step is being taken to "facilitate innovations in the large value payments ecosystem and promote ease of doing business".“In order to facilitate swift and seamless payments in real time for domestic businesses and institutions, it has been decided to make available the RTGS system round...

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