Articles with tag: reserve bank of india

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RBI announces RTGS to run 24x7 from December 2020

12 Oct 2020 | Payments General

The Reserve Bank of India (RBI) has announced that online transfer of funds through real-time gross settlement (RTGS) will be available round-the-clock from December 2020, according to mint.

RBI, RTGS, Reserve Bank of India, real time gross settlement, India, online payments, transfers, funds, real time transfers, gross settlement, National Electronica Funds Transfer, NEFT, electronic payments, bank branches

Reserve Bank of India unveils new cheque payments feature

18 Aug 2020 | Digital Identity, Security & Online Fraud

The Reserve Bank of India (RBI) has rolled out a new way of cheque payments feature via the ‘Positive Pay’ mechanism, according to Verdict.

Reserve Bank of India, cheque payments, security, fraud

OKEx rolls out P2P trading platform in India

05 Aug 2020 | Cryptocurrencies

Crypto exchange OKEx has announced the launch of a peer-to-peer trading platform in India, allowing users to buy cryptocurrencies with INR without fees.

OKEx, P2P trading, trading platform, India, peer to peer trading, cryptocurrency, INR, fees, Bitcoin, USDT, UPI, IMPS, NEFT, digital currencies, Reserve Bank of India, bank lift, local exchanges, CoinDCX

RBI report recommends incentives to popularise QR code transactions in India

23 Jul 2020 | Mobile Payments

The Reserve Bank of India (RBI) has released a report that shows why the government should provide incentives to popularise usage of QR code transactions.

The Reserve Bank of India, RBI, report, government, incentives, QR code, India, digital payments, Bharat QR, UPI QR, Proprietary QR, interoperable QR, KYC, merchant, electronic payment, interchange, RuPay Debit card

iDenfy partners Cashaa to help Indian crypto owners avoid online frauds

25 Jun 2020 | Digital Identity, Security & Online Fraud

iDenfy, a Lithuania-based identity verification company, has announced a partnership with Cashaa, UK-based online banking platform. 

iDenfy, Cashaa, partnership, India, cryptocurrency, fraud, online fraud, Lithuania, UK, online banking, banking, transactions, Reserve Bank of India, RBI

Yes Bank raises 1 bln to boost capital

19 Jun 2020 | Payments General

India-based Yes Bank has planned to raise at least USD 1 billion through a public offering of shares to boost its capital.

India, Yes Bank, banks, commerce, Reserve Bank of India, RBI, SBI, HDFC, ICICI Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank, IDFC First Bank

Visa, Mastercard request RBI relaxation on 'tap-and-go' payment limit

29 May 2020 | Cards

Visa, Mastercard, and industry body Payment Council of India (PCI) have requested the Reserve Bank of India (RBI) relaxation on ‘tap-and-go’ contactless payment limit.

Visa, Mastercard, Payment Council of India, PCI, Reserve Bank of India, RBI, contactless payments, tap-and-go, cards, Europe, UK, ME, SA, contactless card payments, National Corporation of India, NCP, two-factor authentication,

RBI extends EMI moratorium

25 May 2020 | E-invoicing, SCF & E-procurement

The Reserve Bank of India (RBI) has announced an extension of the moratorium on loan EMIs by three months, by the end of August 2020. 

RBI, EMI, loans, The Reserve Bank of India, moratorium, payments

5paisa.com expands with peer-to-peer lending platform

18 May 2020 | Payments General

India-based fintech 5paisa.com has launched its peer-to-peer lending platform, where one can lend from EUR 6 to EUR 61 million to multiple borrowers.

5paisa.com, peer-to-peer, NBFC, Reserve Bank of India, India, loans

RBI issues new rules for debit and credit cards

16 Mar 2020 | Cards

Reserve Bank of India has issued a set of rules meant to improve security of card transactions and curb the misuse of debit and credit cards.

Reserve bank of india, credit cards, debit cards, issuer, card transactions, cross-border payments, cards, contactless payments, Asia, APAC

Reserve Bank of India to setup new entity for retail payment systems

12 Feb 2020 | Payments General

Reserve Bank of India (RBI), the central bank of the country, has proposed to setup an umbrella entity/ entities for retail payment systems, according to Electronic Payments International.


Reserve Bank of India, retail payment, payments

Reserve Bank of India extends deadline for complying with KYC norms

02 Sep 2019 | Digital Identity, Security & Online Fraud

The Reserve Bank of India (RBI) has extended the deadline for complying with KYC norms, so mobile wallet providers have time until 29 February 2020.

Reserve Bank of India, KYC, compliance, mobile wallets, Aadhaar, onboarding

UPI transactions overtake debit card payments, RBI shows

02 Sep 2019 | Online Payments

The number of transactions via the Unified Payments Interface (UPI) have overtaken the number of debit card transactions in 2018-19, according to a Reserve Bank of India report.

UPI, India, debit card payments, Reserve Bank of India, National Electronic Fund Transfer

USD 556 mln lost by Punjab National Bank to fraudulent buying

09 Jul 2019 | Digital Identity, Security & Online Fraud

The Wall Street Journal has revealed that Punjab National Bank had been defrauded USD 556 million from a borrower, Bhushan Power & Steel.

Punjab National Bank, fraud, scam, borrower, banks, the Reserve Bank of India, loan, bankruptcy, accounts, scandal, supply chain, liquidity, credit, fraudulent activity

Credit cards usage on the rise in India

25 Jun 2019 | Cards

Indian consumers have showed their preference for credit cards, with 47.99 million credit cards in operation in April 2019, according to the Reserve Bank of India.

India, credit card, debit card, Reserve Bank of India, cardholder, demonetisation, POS

Reserve Bank of India fines HDFC Bank for KYC norms violation

19 Jun 2019 | Digital Identity, Security & Online Fraud

Reserve Bank of India has revealed it fined the private sector lender HDFC Bank INR 1 crore for not reporting frauds and non-compliance with other directions.

Reserve Bank of India, fine, India, HDFC Bank, violation, KYC, norms, compliance, fraud, bills, BoEs, currency monetary penalty, regulations

Three Indian banks fined by RBI for compliance fails

06 Feb 2019 | Digital Identity, Security & Online Fraud

UCO Bank, Axis Bank and Syndicate Bank have been fined by the Reserve Bank of India (RBI) for “deficiencies in regulatory compliance”.

UCO Bank, Axis Bank, Syndicate Bank, Reserve Bank of India, fines, India, regulation, fraud prevention

UPIs value grew 700 percent in 2018

15 Jan 2019 | Online Payments

The digital transactions via the Unified Payments Interface (UPI) have registered a 700% growth in 2018, according to NPCI and RBI data.

UPI, India, online payments, Unified Payments Interface, NPCI, Reserve Bank of India

Reserve Bank of India issues guidelines on tokenization of card payments

11 Jan 2019 | Digital Identity, Security & Online Fraud

The Reserve Bank of India (RBI) has issued guidelines on tokenization of card payments to improve security of card transactions.

Reserve Bank of India, tokenization, card payments, security

No liability for prepaid payment instruments users if fraud reported in 3 days, says RBI

08 Jan 2019 | Digital Identity, Security & Online Fraud

The Reserve Bank of India (RBI) has absolved customers using prepaid payment instruments of liabilities arising out of a fraud if the incident is reported within three days.

prepaid payment instruments, PPI, Reserve Bank of India, mobile wallets