RBI

In an effort to bring back all the desi entrepreneurs from overseas and curb startups from move from Indian shores , the government has directed RBI to set aside Rs. 2000 crore for startups for Financial year 2014-15. This is…

Reserve Bank of India has issued a fresh circular, warning general public against credit cards and bank accounts issued in it’s own name. Via this new notification, RBI has made clear that “it does not carry out any business with an…

RBI’s new circular in regards to online credit and debit card payments has put a spanner on how many ecommerce sites and online vendors accept payments. The RBI circular has stated that many online companies are still not enforcing 2 factor…

As per government estimates, 20% of all existing currency notes gets soiled or scribbled in India, which amounts to huge losses amounting to approximate Rs 2 lakh crore every year. In a decision which can have long lasting impact on the…

Reserve Bank of India has proposed setting up of a national integrated platform for bill payment: Bharat Bill Payment System, a service through which consumers can pay their bills from anytime, anywhere. Within this ambitious plan,…

Indian IT industry attributes to 8% of GDP every year and 25% to exports. More than 100 Indian tech companies have more than $1 billion market capitalization. 40% of the IT startups in Asia happen to be in India, mostly Bangalore.…

Reserve Bank of India has issued guidelines for seeking license required for opening Small Banks and Payment Banks in India; along with request for suggestions and opinions from general public on this decision. As per the announcement…

Reserve Bank of India (RBI) issued an advisory for all Indian citizens against a fake website which is offering to open savings bank account: RBI Savings Account. The fake website also offers users to apply for a credit card online! As…

This news will definitely come as a big relief to credit card companies operating in India. In November last year, RBI had come out with a directive that said that Indian Banks who issued credit cards to consumers, will need to implement…

Current RBI Governor Dr. Raghuram Rajan thinks unconventional and totally out of the box. This was yet again demonstrated as the RBI issued two initiatives which will certainly bring cheers from the ‘aam junta’. Initiative 1: Minors…