Reserve Bank of India
In a major innovation related to card payments, which includes both debit and credit cards, Reserve Bank of India has allowed ‘Tokenisation’ of card payments. How will it stop frauds? And how does this work? Keep reading to find out…
First, the good news: India’s first cryptocurrency ATM is now finally live. Now, the bad news: Soon, possession of ‘unregulated cryptocurrency’ like bitcoins can attract punishment from the Govt.
The Supercash on MobiKwik has been heavily criticized for luring in customers without giving back any actual benefit to the user.
The panel which is right now investigating bitcoins and other cryptocurrencies are against a total ban on the digital currencies and favour regulation.
After dominating QR Code mode of payments it has emerged that Paytm now plans to roll out a massive quantity of PoS machines, all over India.
Insider sources have revealed that right now RBI is finalizing the protocols to allow interoperability between mobile wallets in India within a month.
Basically, RBI has altered the Liberalised Remittance Scheme rules, which allowed money transfer up to $25,000 without any PAN Card requirement.
Repo rate is the interest at which RBI lends money to other banks, which are meant for consumer loans. It is also called short-term lending rate.
Police have unearthed a Rs 500 crore cryptocurrency scam in Mumbai, where investors were promised 10-20X returns and were promised Swiss citizenship.
Xiaomi’s Mi Credit platform has been developed in association with KreditBee, which is an instant loan platform for young professionals. KreditBee is an NBFC (Non-Banking Financial Company) registered with RBI.