RBI and Central Bank of UAE sign MoU to promote innovation in financial products and services | Daily Current Affairs Dose

RBI and Central Bank of UAE sign MoU to promote innovation in financial products and services | Daily Current Affairs Dose

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is RBI and Central Bank of UAE sign MoU to promote innovation in financial products and services.

Our Daily Current Affairs Dose 2023 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

RBI and Central Bank of UAE sign MoU to promote innovation in financial products and services | Daily Current Affairs Dose

RBI and Central Bank of UAE sign MoU to promote innovation: The Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates (UAE) sign MoU to promote innovation in financial products and services.

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The Reserve Bank of India and the Central Bank of the United Arab Emirates signed a Memorandum of Understanding in Abu Dhabi to promote innovation in financial products and services.

RBI and Central Bank of UAE sign MoU to promote innovation: Key Highlights 

Under the MoU, India and UAE central banks will collaborate on various emerging areas of FinTech, especially Central Bank Digital Currencies (CBDCs) and explore interoperability between the CBDCs of CBUAE and RBI. CBUAE and RBI will jointly conduct proof-of-concept (PoC) and pilot(s) of bilateral CBDC bridge to facilitate cross-border CBDC transactions of remittances and trade.

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This bilateral engagement of testing cross-border use cases of CBDCs is expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India and UAE. The MoU also provides for technical collaboration and knowledge sharing on matters related to Fintech and financial products and services.

Static Current Affairs related to the United Arab Emirates (UAE) for upcoming exams 

• Full form of UAE: United Arab Emirates
• Capital of UAE: Abu Dhabi
• Largest city of UAE: Dubai
• Official languages of UAE: Arabic
• President of UAE: Mohamed bin Zayed Al Nahyan
• Vice President and Prime Minister of UAE: Mohammed bin Rashid Al Maktoum
• Total Population of UAE 2020 estimate: 9,282,410 (92nd)
• Currency: Dirham (AED)

Static Current Affairs related to India for upcoming exams

• President of India: Droupadi Murmu 
• Vice President of India: Jagdeep Dhankhar
• Prime Minister of India: Narendra Modi 
• Chief Justice of India: Justice DY Chandrachud
• Lok Sabha Speaker of India: Om Birla 
• Capital of India: New Delhi 
• Largest city of India: Mumbai 
• Official languages of India: Hindi / English 
• Currency of India: Indian rupee (₹) (INR) 
• Total Population of India 2018 estimate: Neutral increase 1,352,642,280