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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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Representational image. | Photo Credit: The Hindu The Rupee gained two paise to settle at 82.89 (provisional) against the U.S. dollar in a range-bound trade on February 26, tracking volatility in the equity market. Forex traders said inflow of foreign funds and softer crude oil prices provided support to the Indian currency. “Also, the dollar…
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Paytm, on February 9, announced setting up of a group advisory committee to advise the company on strengthening compliance and on regulatory matters. | Photo Credit: The Hindu Shares of Paytm owner One97 Communications jumped 5% in the morning trade on February 26 after Reserve Bank of India (RBI) asked retail payment settlement body NPCI…
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A set of newly identified banks will need to back the Paytm app. The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow…
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Visa did not say why the Reserve Bank of India has issued the directive. | Photo Credit: Reuters Visa said on February 14 that the Reserve Bank of India (RBI), which is also the country’s financial market regulator, had directed it last week to halt all domestic transactions for Business Payment Solution Providers (BPSPs). BPSPs…
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Reserve Bank of India Governor Shaktikanta Das. | Photo Credit: PTI The Reserve Bank of India (RBI) on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. The real GDP growth is, however, lower than 7.3% estimated by the…
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Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India (RBI) on February 8 announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. RBI…
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Paytm. File. | Photo Credit: REUTERS Shares of Indian digital payments firm Paytm slumped 10% to a near record low on Monday, extending a rout from last week triggered by a regulatory crackdown on its banking unit. Paytm has lost about $2.5 billion or about 43% of its market value since the Reserve Bank of…
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Manoranjan Mishra has experience of over three decades in the RBI (Representational) The Reserve Bank of India (RBI) on Wednesday said it has appointed Manoranjan Mishra as Executive Director. As the Executive Director (ED), Manoranjan Mishra will look after the Enforcement Department, Risk Monitoring Department, and Department of External Investments & Operations. Prior to this,…
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