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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…
Read More “Paytm shares jumped 5% in the morning trade on February 26, 2024” »
The Reserve Bank of India is looking at ways to ensure Paytm customers can make seamless digital payments using the app after March 15, 2024. File | Photo Credit: Reuters The Reserve Bank of India (RBI) said the National Payments Corporation of India (NPCI) has been asked to examine the possibility of it becoming a third-party…
Read More “Reserve Bank asks NPCI to help continue operations of Paytm app” »
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…
Read More “Visa halts intermediated commercial card payments in India after RBI’s directive” »
Reserve Bank of India Governor Shaktikanta Das addresses a press conference after a customary post-budget meeting with the Central Board of Directors of Reserve Bank of India, in New Delhi, Monday, Feb. 12, 2024. | Photo Credit: PTI Reserve Bank of India Governor Shaktikanta Das ruled out any review of the central bank’s action against…
Read More “RBI Governor Shaktikanta Das rules out review of action against Paytm Payments Bank” »
Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: EMMANUAL YOGINI “With India’s current account deficit (CAD) declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. …
Read More “RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable” »
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…
Read More “RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends” »
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…
Read More “RBI to introduce offline eRupee transactions soon: Shaktikanta Das” »
The Rupee settled flat at 82.98 against the dollar on February 2, a day after rising six paise on the day of the Union Interim Budget. | Photo Credit: The Hindu The Rupee depreciated four paise to 83.02 against the U.S. dollar in early trade on February 5, tracking a strong American currency and rising…
Read More “Rupee falls four paise to 83.02 against U.S. dollar in early trade” »
Son of a schoolteacher from Aligarh district in Uttar Pradesh, Vijay Shekhar Sharma was enamoured by Jack Ma-run Alibaba’s focus on smartphones rather than desktop computers, when he built a digital payments company that would let Indians pay for vegetables, pay utility bills or buy cinema tickets using their mobile phones. Mr. Sharma, the poster…
Read More “Paytm Payments Bank meltdown, its meaning | Explained” »
Well before Finance Minister Nirmala Sitharaman rose to present the Interim Budget for 2024-25, there were indications as to what its focus would be. Doubts that this would be anything more than a vote-on-account had been settled when Prime Minister Narendra Modi publicly declared that “when polls are this close, the government presents an interim…
