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Ministry of Finance said UPI is a digital public good with immense convenience for the public & productivity gains for the economy. Recently, RBI had released released a discussion paper seeking feedback on charges related to Unified Payments (UPI) Interface…
The Reserve Bank of India (RBI) has released a discussion paper seeking feedback on charges related to Unified Payments (UPI) Interface and credit cards among others. “Charges for payment services should be reasonable and competitively determined for users while also…
The Reserve Bank of India (RBI) on Thursday cancelled the license of Deccan Urban Co-operative Bank Ltd, Vijayapur, Karnataka due to inadequate capital and no earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the…
The Bharat Bill Payment System (BBPS) would handle international ‘inbound’ bill payments, according to Reserve Bank of India Governor Shaktikanta Das. Seniors citizens reliant on children or have relatives living abroad should gain from this decision. Earlier this service was…
In an effort to stop some players from engaging in illicit activity, the Reserve Bank of India (RBI) released the first set of guidelines for digital lending on Wednesday. The central bank has strengthened a regulatory framework to facilitate the…
On Friday, the Reserve Bank of India (RBI) announced some additional guidelines to regulated entities (RE) that outsource financial services. The new rules address Recovery Agent (RAs)-related difficulties for the central bank. RBI has from time to time advised that…
The Reserve Bank of India (RBI), has issued a notification on the Roadmap for LIBOR (London Interbank Offered Rate). The RBI had, in August 2020, requested banks to frame a Board-approved plan, outlining an assessment of exposures linked to the…
The Reserve Bank of India (RBI) issued an advisory to banks and other RBI-regulated entities emphasizing the need for preparedness for the transition away from London Interbank Offered Rate (LIBOR). The Financial Conduct Authority (FCA), UK, in a press statement…