New Delhi: The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments – such as wallets and FASTags – linked to those accounts, after February 29. Customers can, however, continue to utilise balances from their accounts, including savings …
The Reserve Bank of India (RBI) has instructed banks to consider establishing a ‘service availability web page‘ or SEWA dashboard. This dashboard will enable customers to compare various banking facilities offered by different lenders and provide up-to-date information on the availability of digital payment channels and services.According to an ET report, the RBI aims to …
The Finance ministry has taken a serious notice of the recent major issue at UCO Bank and the rising cases of bank frauds in the country. The ministry and the parliamentary panel on ICT have decided to look into and tackle the matter. Financial services secretary Vivek Joshi will hold key consultations on the matter …
The Reserve Bank of India (RBI) has reportedly returned Instamojo’s application for a payment aggregator (PA) licence. According to a report in Economic Times, the fintech company said that it plans to resubmit its application after a year. Bengaluru-based Instamojo stopped operations of its payment gatewaybusiness to comply with RBI rules after receiving the final …
Unified Payment Interface (UPI) has become one of the most popular ways for transactions in India. To improve convenience in payments, the governor of the Reserve Bank of India (RBI) recently launched a new feature called UPI Lite X. This feature will allow users to send and receive money while being completely offline. RBI governor …
After establishing its presence in Singapore, UAE, Nepal, Bhutan, and France, Sri Lanka has now become the latest country to adopt India’s Unified Payments Interface (UPI) payment service. Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe have signed an agreement to enable Sri Lanka to accept UPI payments. This agreement was made during …
Apple is reportedly in discussions with regulatory authorities and officials in India to explore the possibility of introducing its payment service, Apple Pay. The company is planning to engage with the National Payment Corporation of India (NPCI) to launch Apple Pay in the country. Despite the dominance of Google’s GPay, Walmart’s PhonePe, and Paytm in …