RBI

Imagine you have ordered a product online, and opted for cash on delivery service. The courier guy arrives with the package, and after you have checked the product, you fire your new UPI (Unified Payment Interface) app, insert the…

When it comes to financial and corporate frauds in India, the problem is information and awareness about the said company. If we track the modus operandi of companies like Sahara and Saradha, which took money from millions of daily…

The introduction of mobile wallets in India is changing several things at the same time; and such is the magnitude of their expanse, that banks are now threatened by their growth. In order to counter their reach and popularity, banks…

Startup India, Standup India was just the beginning: Indian Government means business now. In order to encourage, nurture and promote entrepreneurship in India, Government and RBI both have announced sweeping changes in the rules.…

In a surprising move, the Reserve Bank of India has increased the cash limits at point of sale (POS) units in tier III, tier IV, tier V and tier VI cities to Rs.2000 from erstwhile limit Rs.1000. RBI said that this facility will be…

The Reserve Bank of India has given in-principle nod to eleven entities – the first lot since it came out with guidelines for the same last year. Here are the 11 entities that have been granted payment bank licenses. Aditya Birla…

On the demand of Indian mobile wallet companies, the Reserve Bank of India has said that it is planning to raise the spending limit on e-wallets. Considering the accelerated growth in mobile payments in the country, RBI will raise the…

As per a 2013 survey, it was found that less than 50% of Indians have a bank account; although PM Modi’s Jan Dhan Yojana has resulted in inclusion of more than 2 crore rural Indians into the banking system, there is still a lot to be…

Reserve Bank of India (RBI) has issued fresh notification, which mandates and instructs all banks to issue only EMV and Pin based debit and credit cards for their customers. The deadline for the implementation of this directive is…

Nearly 3 months after we reported (see below) that RBI is planning to remove the much restricting 2 factor authentication on small value transactions, it is finally been made official. RBI has come out with a circular announcing that…