The Reserve Bank of India's new rules on raising interchange fee and making available the facility of bulk clearing round the block have become functional from Sunday onwards.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.
In April, RBI had said that it would encourage participation of non-banks in Reserve Bank of India-operated Centralised Payment Systems (CPS) -- RTGS and NEFT systems -- in a phased manner.
Deputy Governor T Rabi Sankar said developing a domestic CBDC could provide the public with uses that any private virtual currency (VC) offers and to that extent might retain public preference for the rupee.
After American Express Banking Corp and Diners Club International, Mastercard is the third company to have been barred by RBI from acquiring new customers over data storage issues.
The IDFC Bank was created by demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015.
The Reserve Bank of India (RBI) has recently raised the interchange fee and allowed banks - private and public, to hike charges on withdrawing cash from ATMs as well as charges for debit/credit cards.
Citing the violation of norms on storage of payment systems data, the Reserve Bank of India has prohibited Mastercard from issuing debit cards, credit cards and even prepaid cards to new customers, starting from July 22.
The Reserve Bank of India (RBI) has imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.
The Reserve Bank has issued a scheme 'RBI Retail Direct', a one-stop solution to facilitate investment in government securities by individual investors.
Earlier on July 2, the Ministry of MSME had decided to include retail and wholesale trade under MSMEs for the limited purpose of priority sector lending.
The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on 'Cyber Security Framework in Banks'.
RBI JE Result 2021: The Reserve Bank of India (RBI) has released the results of RBI JE recruitment exam 2021. Candidates who have appeared for the RBI Junior Engineer examination can check their result on the official website-- rbi.org.in.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the second wave of pandemic has taken grievous toll on India.
Last year, another bank had lodged an FIR stating that demonetized currency worth Rs 1.5 crore was found in the bank's chest.
The RBI has barred MPs, MLAs and members of municipal corporations or other local bodies from holding the office of MD or whole-time director in urban cooperative banks.
The pan-India campaign to educate the general public about the essential rules and regulations will be launched in Hindi, Assamese, Bangla, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Sindhi, Tamil, Telugu and Urdu besides English.
The decision came a week after the RBI granted an "in principle" approval to Centrum Financial Services for setting up a small finance bank, thereby clearing the decks for the takeover of th crisis-hit PMC Bank by Centrum and BharatPe as equal partners.
The Reserve Bank of India on Wednesday imposed a total penalty of Rs 8 lakh on three Maharashtra-based co-operative banks for deficiencies in regulatory compliance.
The RBI said the penalties have been imposed due to deficiencies in regulatory compliance, and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
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