CURRENT AFFAIRS

Detailed explanation-1: -Auctions are conducted on the electronic platform called the E-Kuber, the Core Banking Solution (CBS) platform of RBI.

Detailed explanation-2: -E-kuber is the core banking solution of the Reserve Bank of India (RBI). Scheduled Urban Cooperative banks (UCBs), insurance companies, commercial banks who maintain securities accounts and current accounts with the RBI use the E-kuber platform.

Detailed explanation-3: -E-Kuber is a ‘core banking solution’ platform of the Reserve Bank of India. It is a payment system launched by the Reserve Bank of India with the goal of replacing traditional methods of government payments and others. Banks can use E-Kuber to connect their single current accounts across the country.

Detailed explanation-4: -With all District Treasuries expected to implement e-Kuber payments soon, it is considered as a major governance reform and an advancement of government payments system in the Union Territory of Jammu and Kashmir.

Detailed explanation-5: -The core banking solution of the Reserve Bank of India (RBI) is the E-kuber. It enables commercial banks to access their current account with the RBI, at any time, from any place.