Saturday , July 13 2024

Reserve Bank of India shines in the world, receives 'Risk Manager of the Year Award' in London

There is a good news about India and the country's central bank RBI. The Reserve Bank of India has been awarded the 'Risk Manager of the Year 2024' award by the Central Bank of London. RBI has given this information in its post on the social media platform X. The post states that the Central Bank has received this award for its awareness of risk culture. Executive Director Manoj Mishra has received this award from RBI. After the RBI's decision not to change the interest rates, some sectors have seen a strong boom. Stocks of banking, finance, auto and real estate sectors have seen an increase of up to 9.5 percent. RBI has retained the repo rate at 6.5 percent in its June monetary policy.

The market capitalization of all the companies listed on the BSE Sensex has increased to Rs 423.27 lakh crore, while the valuation has increased by Rs 7.38 lakh crore in a single day. This surge in the stock market was seen when on June 4, Congress leader Rahul Gandhi accused the country's 5 crore retail investors of losing Rs 30 lakh crore and called it the biggest stock market scam. If we look at individual stocks, the shares of Wipro, FCSIs, Tech Mahindra, TCS and HCL Tech have shown strong performance. All these stocks have been top gainers and have climbed up to 5 percent.

Let us tell you that while announcing the monetary policy of RBI, Shaktikanta Das had expressed concern over the increasing number of digital payment frauds. He had said that the digital payment system needs to be protected from such frauds. Therefore, RBI has also proposed to create a digital payment intelligence platform which will monitor intelligence at the network level itself. Not only this, it will share data across the entire digital payment ecosystem in real time. The Reserve Bank of India has constituted a committee to further the development of this platform. This committee will train their work on various aspects related to this platform.