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Image for representation only | Photo Credit: C. Venkatachalapathy The Reserve Bank of India has proposed to facilitate cash deposit facility in banks through the use of UPI, an instant real-time payment system for inter-bank transactions through mobile phones. ALSO READ | RBI Monetary Policy LIVE updates “Given the popularity and acceptance of UPI, as…
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RBI Governor Shaktikanta Das presented a memento to Prime Minister Narendra Modi during a ceremony to mark 90 years of the Reserve Bank of India in Mumbai on April 1, 2024. | Photo Credit: PTI Prime Minister Narendra Modi on April 1 said India needs to become economically self-reliant in the next ten years so…
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Paytm app will keep running even after March 15. Paytm, a major player in India’s fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today. This comes after the Reserve Bank of India imposed restrictions on the bank, citing serious rule violations. Customers relying on…
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NHAIhas advisedPaytm FASTag users to procure a new FASTag. New Delhi: The Reserve Bank of India has shut down the Paytm Payments Bank and prohibited them from accepting new clients. After tomorrow, March 15, no new customer accounts, prepaid cards, Paytm Wallets, etc, will accept deposits, credit transactions, or top-ups, which also include FASTags. Paytm…
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Image for representation purpose only. | Photo Credit: K. PIchumani The Telangana Government has decided to raise ₹2,000 crore open market borrowings through auction of securities. The government has submitted an indent to this effect to the Reserve Bank of India (RBI) which will take up the auction process through its core banking solution e-Kuber…
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The RBI and Bank Indonesia MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries. | Photo Credit: Reuters The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on March 7 in Mumbai for…
The RBI directive means that a card issuing bank or non-bank can not force the card of any particular network on a customer. | Photo Credit: Reuters The Reserve Bank of India (RBI) has issued directions to card issuers not to enter into any arrangement or agreement with card networks that restrain them from availing…
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RBI has been engaging with IIFL Finance’s senior management and auditors (Representational) The Reserve Bank of India on Monday ordered non-bank finance company IIFL Finance to stop sanctioning, disbursing and selling gold loans with immediate effect, citing “material supervisory concerns” in its gold loan portfolio. There were “serious deviations” in assessing the gold taken as…
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File picture of RBI Governor Shaktikanta Das, who said that India accounts for 40% of all digital payments in the world | Photo Credit: ANI Reserve Bank of India Governor Shaktikanta Das said on Monday that digital transactions in India have grown 90-fold in 12 years. Mr. Das was speaking at the RBI headquarters in…
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The Reserve Bank of India (RBI) imposed a monetary penalty on State Bank of India and Canara Bank for regulatory violations, the central bank said in a press statement on Monday. The State Bank of India was fined Rs 2 crore for violations related to depositor education awareness funds and shareholding in a company exceeding…
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