The type of note issue system followed in India is :

1

Maximum fiduciary system
2

Minimum reserve system
3

Proportional fiduciary system
4

Fixed fiduciary system

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Latest Current Affairs

Barbara Kingsolver and Hernan Diaz win Fiction Pulitzer Prize 2023

Barbara Kingsolver (American Novelist) and Hernan Diaz (Argentina Writer) were awarded the Pulitzer Prize 2023 in the fiction category.

Barbara Kingsolver was awarded for her novel 'Demon Copperhead' and Hernan Diaz won for his novel 'Trust'.

Other categories:

Drama: English, by Sanaz Toossi.

Biography: G-Man: J. Edgar Hoover and the Making of the American Century, by Beverly Gage (Viking).

Memoir or Autobiography: Stay True, by Hua Hsu (Doubleday).

Fitch lowered India’s GDP growth forecast to 6% for 2023-24

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Reason: Headwinds from elevated inflation, interest rates, and subdued global demand.

The rating firm has also reaffirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable Outlook.

‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate.

RBI imposes ₹1.73 crore fine on HSBC for wrong credit card data

RBI has imposed a monetary penalty of ₹1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006.

HSBC has furnished incorrect credit information regarding several expired credit cards with nil dues to all four credit information companies.

The RBI imposed the penalty in the exercise of powers conferred under the provisions of Section 25(1) and Section 23(4) of the CIC (Regulation) Act, 2005.

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The TNCA has formed four groups of four members each who will cover all 37 districts in Tamil Nadu.

Any player who is above 13 years of age can attend the trials.

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The report of the committee headed by former Oil Secretary Tarun Kapoor.

It has also suggested phasing out motorcycles, scooters, and three-wheelers with internal combustion engines by 2035.

It help India to achieve the goal of cutting emissions to net zero by 2070.

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