The Reserve Bank of India gave the go-ahead to Open, Cashfree Payments, PayNearby & Fairexpay, providers of payments and API banking solutions, for its cross-border payments offering. Cross-border payments are the focus of the Reserve Bank of India’s (RBI) announcement ...

The Reserve Bank of India has notified that it has extended the timeline for implementation of a few provisions under its master directions on credit card and debit card issuance. The timeline has been extended by three months from July 1, 2022, to October 1, 2022. ...

The Central Government has nominated Anand Gopal Mahindra (Chairman of Mahindra group), Venu Srinivasan (TVS Motor’s Chairman), Pankaj Ramanbhai Patel (Zydus Lifescience’s Chairman ) and Ravindra Dholakia (IIM Ahmedabad’s ex-faculty) as part-time non-official Directors on the ...

The RBI has approved a dividend payment of Rs. 30,307 crore to the Centre for the fiscal year 2021-22. The bank’s central board of directors also decided to maintain the contingency risk buffer (CRB) at 5.50%. In the 2022 budget, the government had estimated ...

Leading stock exchange BSE Limited approved the appointment of SS Mundra, Public Interest Director as the Chairman of the board of directors of the company. Mundra will take place Justice Vikramajit Sen who is the current chairman.Mundra was appointed as Public Interest Director at ...

The Reserve Bank of India (RBI) has levied a monetary penalty of 59 lakh rupees (Rupees Fifty Nine Lakh only) on KEB Hana Bank (the bank) for non-compliance with RBI’s “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016” by a decision dated May 12, 2022. This penalty was issued in ...

The Reserve Bank of India (RBI) has raised the Repo rate by 40 basis points to 4.40% and the cash reserve ratio (CRR) by 50 basis points to 4.50%. Aim: To bring down the raised inflation to the desired level and tackle the impact of geopolitical tensions. ...

The Reserve Bank of India (RBI) on Thursday issued guidelines for the establishment of ‘Digital Banking Units’ as announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman earlier this year. In the Union Budget 2022-23 the finance minister made announcements for setting up of 75 ...

The RBI has released its final guidelines for microfinance loans, lifting an interest cap and allowing companies to have a board-approved policy to price for such lending. The RBI will continue checking that microfinance institutions do not charge usurious ...

RBI has barred Paytm Payments Bank from opening new accounts or adding new subscribers with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system. This action is based on certain material ...