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24 May, 2022
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Cardless Cash Withdrawal Facility To Be Made Available At All ATMs Says RBI Governor

Cardless Cash Withdrawal Facility To Be Made Available At All ATMs Says RBI Governor

On Friday, the Reserve Bank of India Governor Shaktikanta Das announced the new monetary policy. The biggest announcement made by the RBI Governor was that there would be cardless cash withdrawal facility at all banks and ATMs using the Unified Payments Interface (UPI). Releasing a statement, the RBI said: “The absence of need for a card to initiate cash withdrawal transactions would help in containing frauds like skimming, card cloning, device tampering, etc. To encourage card-less cash withdrawal facility across all banks and all ATM networks/operators, it is proposed to enable customer authorisation through the use of UPI while settlement of such transactions would happen through the ATM networks,” Under the cardless cash withdrawal system, customers can withdraw a minimum of INR 100 per transaction and up to INR 10,000 per day or INR 25,000 per month. The Reserve Bank of India has kept the repo rate or the lending rate at 4% to keep its RBI policy accommodative. The regulatory bank also said that it would focus on the withdrawal of accommodation to control the inflation rate in the country. 

Covid-Bulletin: India Registers 1,109 New Cases; Recovery Rate At 98.76%

According to the latest data released by the union health ministry, India has registered 1,109 new covid-19 cases in the last 24 hours. The active caseload of the country currently stands at 11,492. Meanwhile, daily recoveries continue to outnumber active covid-19 cases, with recording 1,213 recoveries in the previous 24 hours. The total recoveries have now reached 4,25,00,002. The daily and weekly positivity rates currently stand at 0.24% and 0.23%, respectively. As per the Indian Council of Medical Research, the country has conducted 79.29 crore covid-19 tests so far. On the vaccination front, India has administered 185.38 crore covid-19 vaccine doses so far under the nationwide vaccination drive.

Russia-Ukraine War: Kremlin Spokesperson Admits Russian Losses In The War

Kremlin spokesperson Dmitry Peskov for the first time since the Russia-Ukraine war, has publicly accepted that the casualties were a huge tragedy loss for Russia. He also said that he hopes Russia reaches its war goals in the coming days. The remarks came after Russia was expelled from the United Nations Human Rights Council on Wednesday. Out of 193 members of the United Nations General Assembly, 93 members voted in favour of ousting Russia from UNHRC, followed by allegations of mass human rights abuses by the Russian troops. In response, Moscow announced its resignation from the human rights council. Meanwhile, Ukrainian President Volodymyr Zelensky accused Russian President Vladimir Putin of committing grave atrocities in Borodyanka, a town near Kyiv. However, Presidential Spokesman denied the allegations and said that the images of civilians murdered in Borodyanka were simply staged and that Russian troops were not responsible for execution in the town. 

Sri Lanka Economic Crisis: Sri Lankan President Gotabaya Rajapaksa Constitutes An Expert Panel

As Sri Lanka’s economy continues to cripple, President Gotabaya Rajapaksa has constituted an expert panel in an attempt to bail out the island nation from the current economic crisis. The panel consists of eminent economists who have been given the task to address the $6.8 billion of debt and control the increasing inflation rate in the country by engaging with international financial bodies such as the IMF. On Wednesday, the President’s office issued a statement saying that the Presidential Advisory Group on Multilateral Engagement and Debt Sustainability would include Indrajit Coomaraswamy, former governor of the Central bank of Sri Lanka) and ex-director of the economic affairs division of the commonwealth secretariat. The other members of the panel include Shanta Devarajan, former senior director of development economics at the World Bank and Sharmini Coorey, ex-director of IMF Institute of Capacity Development. The current economic crisis in Sri Lanka has triggered shortage of basic commodities, including food, electricity and fuel. 

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