Tag: RBI
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RBI to launch interoperable payment system for internet banking
The Reserve Bank of India (RBI) has announced plans to launch an interoperable payment system for internet banking, aimed at enhancing the digital payment infrastructure in the country. The move is part of RBI’s efforts to promote a more efficient, secure, and inclusive payment ecosystem. The new payment system will allow customers to make online…
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Amazon Pay secures payment aggregator licence from RBI
Amazon Pay, the digital payments arm of e-commerce giant Amazon, has recently been granted a payment aggregator licence by the Reserve Bank of India (RBI). This move is set to further strengthen Amazon Pay’s presence in the rapidly growing digital payments landscape in India. With this new licence, Amazon Pay will be able to facilitate…
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RBI reviews Paytm’s UPI payment request
Recently, the Reserve Bank of India (RBI) has reviewed a payment request by Paytm for enabling Unified Payments Interface (UPI) transactions on their platform. This move comes as a part of RBI’s continuous efforts to ensure compliance and improve the digital payments ecosystem in the country. Paytm, one of the leading digital payment platforms…
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RBI and NRB discuss India-Nepal remittances
By: Your Name Introduction The Reserve Bank of India (RBI) and the Nepal Rastra Bank (NRB) recently held discussions regarding remittances between India and Nepal. Remittances play a significant role in the economies of both countries, and ensuring a smooth and efficient transfer of funds is crucial for the financial well-being of millions of people.…
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RBI asks Visa and Mastercard to halt B2B fintech payments
The Reserve Bank of India (RBI) has directed Visa and Mastercard to temporarily stop issuing new cards for certain fintech companies involved in business-to-business (B2B) payments. This move comes as part of the RBI’s efforts to ensure the stability and security of the country’s financial system. The RBI’s decision is aimed at addressing concerns over…
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RBI explores offline solutions to improve CBDC adoption
RBI Explores Offline Solutions to Improve CBDC Adoption Published: September 8, 2022 by Financial Insights Magazine The Reserve Bank of India (RBI) is actively exploring innovative offline solutions to enhance the adoption of Central Bank Digital Currency (CBDC) across the country. With the rapid shift towards digital transactions and the need for a secure and…
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RBI publishes draft framework for fintech sector self-regulation
The Reserve Bank of India (RBI), the country’s central banking institution, has recently published a draft framework for self-regulation for the fintech sector. The framework aims to establish guidelines and principles for fintech companies operating in India. Fintech, short for financial technology, is an industry that utilizes technology and innovation to improve financial…
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EnKash receives payment aggregator approval from RBI
EnKash, a leading provider of integrated corporate card payments solutions, has recently received payment aggregator approval from the Reserve Bank of India (RBI). This approval signifies EnKash’s commitment to adhering to the highest standards of security and reliability in their payment processing services. The RBI is the central regulatory body responsible for ensuring the stability,…