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Understanding nuances of Central Bank Digital Currency

 

Our economy is poised to emerge as a leading advocate of digital economy by putting all pillars in place, more so after the launch of ‘Digital India’ in July 2015. The spread of mobile density, broad band connectivity coupled with built up of digital banking infrastructure, cyber security measures and data privacy norms and many more support initiatives have formed a formidable digital ecosystem.  With the backdrop of digital imprint through trinity –jandhan, Adhaar and mobile (JAM), the society is ready to accept the debut of Central Bank Digital Currency (CBDC). It will be yet another strategic initiative to move towards less cash society. Any big change will have merits and challenges. It will take considerable time for the stakeholders to join in integrating CBDC to strengthen digital transformation. 

 

International Day of Yoga

The International Day of Yoga has been celebrated annually on June 21 since 2015, following its inception in the United Nations General Assembly in 2014. June 21, as it is the longest day of the year in the Northern Hemisphere and shares a special significance in many parts of the world.  International Yoga Day celebrates the physical and spiritual prowess that yoga has brought to the world stage. While it is an important source of exercise and healthy activity millions join in and practice on a daily basis. For many, these routines are a way to connect the body, mind and soul in a way that has existed for centuries.

 

NIBSCOM celebrated the day with 2 hours yoga session.

All the trainees at NIBSCOM participated in the event.

Evaluating the risks in opening up the banking sector

When considering the strategic role of banks in making India “atmanirbhar” (self-reliant), the size and scope of activities of banks needs to be expanded and accelerated by creating a compatible and energised ecosystem – one that is flexible, but also rigorous enough to tackle underlying risks. In a recent speech on the creation of synergies for seamless credit flow and economic growth’, Prime Minister Narendra Modi categorically stated that banks should move from being ‘loan approvers’ to proactively ‘partnering with loan seekers’ to develop a base of wealth-creating entrepreneurs who can potentially create employment opportunities, and help build a self-reliant country.  

Nuances of management of liquidity in banks
  

It is evident that the onset of the pandemic crisis led to RBI pumping ample liquidity using conventional and non-conventional tools and reducing policy rates to a new low. Loans were made cheaper and government guaranteed loans too were made sufficiently available. Opening new accommodative windows – permitting restructuring of loans, granting moratorium on loan repayments for 6 months, putting Kamath committee to work for restructuring bigger corporate sector loans and many more measures were meant to maintain financial stability during unprecedented pandemic times.

Punjab & Sind Bank Celebrating its 115th Foundation Day on 24-06-2022
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