RBI allowed recurring transactions up to 2,000 on cards from Sep 1

The Reserve Bank of India allows customers to make recurring payments of less than Rs.2000 without the two-factor authentication process The changing payment needs and the requirement to balance...

RBI Extended Timings of RTGS Transactions by an hour from 7 am instead of...

India’s central bank, the Reserve Bank of India(RBI) has extended the timings of Real-Time Gross Settlement (RTGS) transactions by an hour from 7 AM instead of 8 AM with...

RBI clarified rules on ‘free ATM transactions’

The country’s Central Bank, Reserve Bank of India(RBI) has asked banks not to count failed transactions at ATMs due to technical reasons (hardware and software issues, non-availability of cash,...

Jana Small Finance Bank become a scheduled Bank

RBI gave the Bengaluru-headquartered Jana Small Finance Bank Ltd, the status of a scheduled bank. The Jana Bank was established in 2009 as a financial services company and opened its banking operations in 2018. It presently...

Mastercard launched ‘Identity Check Express’ for uninterrupted secured online transactions

American multinational financial services corporation, Mastercard has launched a next-generation, mobile-first authentication solution, called “Identity Check Express” that will help customers to do uninterrupted secured transactions while shopping...

LIC Jeevan Amar plan launched

The Life Insurance Corporation of India (LIC) has launched an affordable and flexible ‘LIC Jeevan Amar Plan’. This plan allows policyholders to choose death benefit options of their own...

RBI granted Bank of China to offer regular banking services in India

India’s central banking institution, RBI(Reserve Bank of India) has allowed Bank of China (BoC) to provide regular bank services in India. BoC will be included in the Second Schedule...

IPPB to be converted into small finance bank

The postal department has decided to convert the India Post Payments Bank into a small finance bank. This bank will provide micro credit at the doorsteps to individuals and...

IBBI tighten norms for resolution professionals

Insolvency and Bankruptcy Board of India (IBBI) tighten norms for resolution professionals with a cap on their age and relative’s involvement. Now, Resolution professionals cannot take up insolvency assignments once they attain...

India will be the first recipient of AIIB local currency funding

India will be the first recipient of local currency financing by the Asian Infrastructure and Investment Bank (AIIB). The objective of local currency financing is to provide more options...

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