RBI asks banks, NBFCs to promote digital payments
1 year, 9 months ago

RBI asks banks, NBFCs to promote digital payments

The Hindu  

The Reserve Bank of India has unveiled “Har Payment Digital” as part of Digital Payments Awareness Week 2023 to make every person in India a user of digital payments. Stating that payment systems in India have witnessed over 1000 crore transactions every month since December 2022, he said “This speaks volumes of the robustness of our payments ecosystem and acceptance by consumers.” Mr. Das said UPI has emerged as the most popular and preferred payment mode in India pioneering Person-to-Person as well as Person to Merchant transactions in India accounting for 75% of the total digital payments. He said steps have been taken for internationalisation of India’s payment systems and the convenience of digital payments would facilitate onboarding of new consumers into the digital fold. Stating that customer satisfaction would lead to furthering digital payments, he said “The message is in sync with the Payments Vision 2025 of the RBI, i.e.

India Payments Digital Payments Digital Payment Rbi Upi Crore Transactions  digital  rbi  banks  villages  indias  india  crore  transactions  payment  payments  nbfcs  asks  upi  75  promote

History of this topic

Why Shaktikanta Das was rated among world’s top central bankers, 6 big feats in 6 years
1 week, 6 days ago

Why Shaktikanta Das was rated among world’s top central bankers, 6 big feats in 6 years

Firstpost  

Shaktikanta Das’s tenure as RBI governor ended today. Das also hoped that Malhotra would carry forward RBI initiatives such as the Central Bank Digital Currency and unified lending interface and promote financial inclusion. ‘RBI, Finance Ministry perspectives can differ at times’ Das said that during his tenure as the RBI governor, there was a productive and cooperative relationship between India’s …

Shaktikanta Das: Six major policy decisions in six years as RBI Governor
1 week, 6 days ago

Shaktikanta Das: Six major policy decisions in six years as RBI Governor

India TV News  

Outgoing Reserve Bank of India Governor Shakti Kant Das has guided the country’s monetary policy through turbulent times during his six-year tenure. The central bank also announced a monetary policy including a Targeted Long-Term Repo Operations of Rs 1 lakh crore aimed at supporting critical sectors like MSMEs and NBFCs. Indian digital currency revolution Under Das’s leadership, India made significant …

FM Sitharaman urges regional rural banks to onboard customers to digital services like mobile banking by Dec 2024
3 weeks, 2 days ago

FM Sitharaman urges regional rural banks to onboard customers to digital services like mobile banking by Dec 2024

Live Mint  

New Delhi, November 30 : Union Finance Minister Nirmala Sitharaman has urged Regional Rural Banks to onboard rural customers to digital services such as Internet Banking, Mobile Banking, and UPI. In the meeting, Sitharaman directed the RRBs to prioritize onboarding customers for digital services and set a deadline to complete this task by December 2024. "RRBs to prioritize onboarding customers …

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes
1 month, 2 weeks ago

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes

Hindustan Times  

Cybersecurity is a top priority for the Indian government, with the country witnessing a surge in digital connectivity and a corresponding rise in cybercrimes. However, authorities have been proactive in safeguarding citizens from these threats, disconnecting fraudulent mobile connections and blocking over ₹2,400 crore in suspicious transactions. The government has also launched an indigenously developed International Incoming Spoofed Calls Prevention …

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
4 months, 2 weeks ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

RBI’s digital rupee must leap over many hurdles for wider adoption
6 months, 1 week ago

RBI’s digital rupee must leap over many hurdles for wider adoption

Live Mint  

The Reserve Bank of India has been striving to boost the adoption of its Retail-Central Bank Digital Currency or e-rupee. RBI is also aiming to onboard more non-bank payment service operators and make the e-rupee inter-operable with India’s Unified Payments Interface. Despite having clearly defined use-cases for their country-specific CBDCs, these pilot projects suffered from weak internet connectivity and poor …

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv
6 months, 1 week ago

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv

News 18  

UPI customers around the country have recently been experiencing difficulties due to issues with digital payments. The National Payments Corporation of India, which oversees the UPI platform, is not the primary cause of the frequent disruptions in UPI payments, according to Reserve Bank of India Governor Shaktikanta Das. Furthermore, UPI transactions reach 450 million per day, and according to NPCI …

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging
7 months, 4 weeks ago

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging

Hindustan Times  

There is little doubt that Indians are spending more than ever before. You cannot use your credit card or debit card for subscriptions and recurring payments on the Apple App Store or the Google Play Store, be it for any app or service. Then there was a pursuit of getting RuPay credit cards aboard the UPI or unified payments interface. …

RBI issues draft guidelines on payment aggregators | Check details
8 months ago

RBI issues draft guidelines on payment aggregators | Check details

India TV News  

Aiming to boost the payment ecosystem, The Reserve Bank of India on Tuesday issued draft guidelines to further strengthen regulations on payment aggregators. "Given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence of merchants, operations …

E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets
8 months, 2 weeks ago

E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets

Hindustan Times  

In his statement released today, the Reserve Bank of India Governor, Shaktikanta Das, has indicated the central bank’s interest in enhancing the scope of digital currency in India. The RBI Governor said the central bank was looking to promote CBDC and that too by enhacing its scope through Non-bank Payment System Operators and thereby boost retail use. It is proposed …

Central Bank Digital Currencies Are Redefining Digital Money
10 months, 1 week ago

Central Bank Digital Currencies Are Redefining Digital Money

The Quint  

The Reserve Bank of India, in a forward-looking move, decided to extend the pilot program for the digital rupee. This extension reflects the central bank’s commitment to exploring and harnessing the potential of central bank digital currencies. Private players who dominate the digital payments market have simplified life for the world population with innovations like e-money, online transactions, mobile banking, …

RBI to introduce offline eRupee transactions soon: Shaktikanta Das
10 months, 2 weeks ago

RBI to introduce offline eRupee transactions soon: Shaktikanta Das

The Hindu  

Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India on February 8 announced that offline capability will be introduced on the Central bank digital currency pilot project. RBI Governor Shaktikanta Das said that programmability-based additional use cases will be introduced as part of the pilot project. "It …

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments
10 months, 2 weeks ago

RBI Monetary Policy: New changes announced to electronic trading platforms, digital payments

New Indian Express  

The Reserve Bank of India today released a major policy statement outlining several developmental and regulatory initiatives covering financial markets, regulations pertaining to lending institutions, and payment systems including digital currency and fintech. On the financial markets front, RBI announced that it will comprehensively review the existing regulatory guidelines for Electronic Trading Platforms that enable transactions in financial instruments regulated …

Harmonizing Horizons: Unravelling Digital Lending Regulations in a Global Context
11 months ago

Harmonizing Horizons: Unravelling Digital Lending Regulations in a Global Context

Live Law  

Driven by technical improvements and improved internet access, digital lending is on the rise in India with the goal of improving financial inclusion. The Consumer Financial Protection Bureau plays a pivotal role in enforcing federal consumer protection laws, recently issuing guidelines tailored for digital lending platforms. United Kingdom Within the United Kingdom, oversight of digital lending platforms falls under the …

RBI enhances UPI payment limits for healthcare and education
1 year ago

RBI enhances UPI payment limits for healthcare and education

The Hindu  

Along with steps to protect borrowers availing loans online, the Reserve Bank of India on Friday enhanced the UPI payment limits for healthcare and education from ₹1 lakh to ₹5 lakh, and the limit on recurring e-payment mandates for credit card and insurance premia payments as well as mutual fund investments to ₹1 lakh from the current limit of ₹15,000. …

‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000
1 year ago

‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000

Firstpost  

In order to curb scams that use online transactions, the government of India is thinking of ways to add some friction bewteen first time transactions between two parties, if the amount is over Rs 2,000 The government of India is planning to add friction in the way first-time online transitions are done between two parties, in order to combat online …

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure
1 year, 3 months ago

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure

Firstpost  

India has developed some of the finest digital public goods infrastructure which could change lives the world over. Lauding India’s Digital Public Infrastructure, the World Bank has said that what the country has achieved in just six years would have otherwise taken about five decades. Highlighted the key measures taken by the Modi government in shaping the Digital Public Infrastructure …

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'
1 year, 3 months ago

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'

Hindustan Times  

The World Bank has lauded the transformative impact of Digital Public Infrastructures in India in the past decade under the Narendra Modi-led government. The document, prepared by the World Bank as part of the G20 Global Partnership for Financial Inclusion, highlighted the measures taken by the Modi government and the pivotal role of government policy and regulation in shaping the …

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:
1 year, 3 months ago

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:

ABP News  

In a recent keynote address at the G20 TechSprint Finale, Reserve Bank of India Governor Shaktikanta Das drew attention to the challenges surrounding cross-border payments, emphasising the issues of high costs and slow transaction speeds. Das indicated that the central bank digital currency — dubbed Digital Rupee — instant-settlement feature could offer a viable solution to these challenges. Despite advancements …

India ranks first in digital payments made globally: Report
1 year, 4 months ago

India ranks first in digital payments made globally: Report

Deccan Chronicle  

Hyderabad: Online banking and the shift to a cashless society started approximately three decades ago in India. This year, 91 billion digital payment transactions have been recorded and today India ranks first in the number of digital payments made globally. Backbase on Wednesday released the IDC Infobrief titled ‘Accelerating customer-centric transformation by balancing build and buy - A collaborative approach …

Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?
1 year, 4 months ago

Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?

The Hindu  

The story so far: On August 17, the Reserve Bank of India commenced a pilot programme endeavouring to evaluate the feasibility of the ‘Public Tech Platform for Frictionless Credit’. The suggested platform would strive to “enable delivery of frictionless credit by facilitating seamless flow of required digital information to lenders.” What is the platform for? The central banking regulator has …

RBI to start pilot on Public Tech Platform for frictionless credit
1 year, 4 months ago

RBI to start pilot on Public Tech Platform for frictionless credit

The Hindu  

The Reserve Bank of India has announced the development of a Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub, a wholly-owned subsidiary of RBI. Currently, data needed for credit appraisal are available with different entities like Central and State governments, account aggregators, banks, credit information companies, and digital identity authorities. In this context, the Public Tech Platform …

Home loan, other borrowers can switch to fixed-rate regime: RBI
1 year, 4 months ago

Home loan, other borrowers can switch to fixed-rate regime: RBI

Hindustan Times  

The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the …

IMF report hails India's digital infrastructure as a model for other nations to follow
1 year, 8 months ago

IMF report hails India's digital infrastructure as a model for other nations to follow

India TV News  

The International Monetary Fund, in its working paper, has said that India's creation of a world-class digital public infrastructure serves as an example for other countries going through digital transformation. The report "Stacking Up the Advantages: Lessons from India's Digital Journey " stated that the success of India's digital public infrastructure is attributed to the country's building block strategy and …

Paytm Announces Upgraded Payments Platform Launch With Indigenous Technology
1 year, 8 months ago

Paytm Announces Upgraded Payments Platform Launch With Indigenous Technology

Hindustan Times  

● Massive upgrade of Paytm’s payments platform through an indigenous full-stack development will further boost digital payments in the country. Paytm Announces Upgraded Payments Platform Launch With Indigenous Technology ● Aimed at significantly enhancing consumer experience of digital payments through much better success rate, speed and security One97 Communications Limited that owns the brand Paytm, India’s leading payments and financial …

Paytm unveils fully indigenous technology-powered upgraded payments platform
1 year, 8 months ago

Paytm unveils fully indigenous technology-powered upgraded payments platform

Live Mint  

Paytm, the payments and financial services platform owned by One97 Communications, has announced the release of its new technology platform developed entirely in-house. The company claims that Paytm has been a game-changer in the mobile, QR, and soundbox payments space, and its new platform is set to revolutionize digital transactions, making financial services more accessible and affordable. Paytm, which has …

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment
1 year, 9 months ago

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment

India TV News  

Reserve Bank of India governor Shaktikanta Das launched the "Har Payment Digital" mission on Monday, as part of the Digital Payments Awareness Week 2023. Image Source : PIB TWITTERHar Payment Digital: RBI launches mission to make every citizen a user of digital payment The HPD mission will run until the period of Vision 2025, to convert non-users into users of …

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting
1 year, 9 months ago

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting

India Today  

India’s digital payments ecosystem has radically transformed governance and financial inclusion over the past few years, said Prime Minister Narendra Modi while addressing the G20 Finance Ministers' and Central Bank Governors' Meeting. Our digital payments ecosystem has radically transformed governance, financial inclusion and ease of living,” said PM Modi. READ | Budget 2023 will make India leading player in global …

Digital transactions to soon exceed cash in India: PM Modi
1 year, 10 months ago

Digital transactions to soon exceed cash in India: PM Modi

Deccan Chronicle  

New Delhi: As people take to India’s real-time payment mechanism, the Unified Payments Interface, Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash payments in the country. Besides, the linkage will also help migrant workers, professionals, students and their families as well," Mr Modi said, while launching the service at a virtual event through …

Paytm launches G20-theme QR Code to celebrate India’s presidency: Know-more
1 year, 10 months ago

Paytm launches G20-theme QR Code to celebrate India’s presidency: Know-more

India TV News  

One97 Communications Limited, the owns of Paytm, the online payments and financial services company and the pioneer of QR and mobile payments, has launched a special G20-theme QR Code to celebrate India’s presidency of the intergovernmental forum and the country’s leadership in mobile payments. This QR code was launched by Mr. Ashwini Vaishnaw, Hon’ble Minister for Railways, Communications and Electronics …

Budget: New DigiLocker and KYC will simplify digital identity requirements
1 year, 10 months ago

Budget: New DigiLocker and KYC will simplify digital identity requirements

Hindustan Times  

New Delhi: In a Budget speech with a wide-ranging focus on technology and tech-driven solutions, finance minister Nirmala Sitharaman pitched for simplification of the know your customer processes for financial services, gave the DigiLocker platform more utility for individuals as well as businesses, and allowed fintech platforms greater flexibility to tap India’s digital infrastructure. “Fintech services in India have been …

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu
1 year, 10 months ago

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu

The Hindu  

The government made cash transfer of ₹2.2 lakh crore under the PM-KISAN scheme, Finance Minister Nirmala Sitharaman said on February 1. Presenting the last full Union Budget 2023 of the second term of the BJP-led NDA government ahead of the general elections in 2024, she said the mission of the government is to achieve knowledge-driven economy. Institutional credit in agriculture …

Budget 2023: FM Sitharaman's past key budget announcements on banking
1 year, 10 months ago

Budget 2023: FM Sitharaman's past key budget announcements on banking

Hindustan Times  

Finance Minister Nirmala Sitharaman on February 1 will present the Union Budget for the fiscal year 2023-24. Budget 2019-20 In her first Union Budget as Finance minister, Nirmala Sitharaman announced to re-capitalise Public Sector Banks of ₹70,000 crore to boost credit which was part of previously announced ₹3 lakh crore capital infusion. Budget 2021-22 The budget of 2021-22 proposed setting …

Digital currency to further bolster digital economy, make payment system more efficient: RBI
1 year, 10 months ago

Digital currency to further bolster digital economy, make payment system more efficient: RBI

India TV News  

RBI Executive Director Ajay Kumar Choudhary on Wednesday the digital currency will further bolster the digital economy, make the payment system more efficient and reduce the cost involved in physical cash management. Central Bank Digital Currency The RBI has already launched pilots of CBDC in wholesale and retail segments last year. He said the key motivation for exploring the issuance …

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions
1 year, 11 months ago

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions

India TV News  

In a big boost to Digital India initiative, the Centre has approved has approved an incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions for a period of one year from April 2022. The approved incentive scheme will focus on promoting Point-of-Sale and e-commerce transactions using RuPay Debit Cards and low-value BHIM-UPI transactions for the current financial …

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments
1 year, 11 months ago

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments

The Hindu  

The Union Cabinet approved an outlay of ₹2,600 crore to promote payments using RuPay cards and the Unified Payments Interface, Union Minister Bhupendra Yadav announced on Wednesday. Banks will be provided this incentive money to promote such digital payments, the Cabinet said in a press release. “The scheme will also promote UPI Lite and UPI 123PAY as economical and user-friendly …

Digital rupee not the magic bullet Central government is hoping for
1 year, 11 months ago

Digital rupee not the magic bullet Central government is hoping for

The Hindu  

Published : Dec 29, 2022 10:30 IST In recent times, the financial world has been in a state of excitement after the Reserve Bank of India announced the launch of the pilot for a retail digital rupee on December 1. Crypto gamble It is to be noted that with the threat of cryptocurrency, which began with Bitcoin in 2009, now …

Delhi-NCR Emerges As India's Digital Payments Capital; Most Offline Payments On F&B In Chennai: Paytm Study
1 year, 11 months ago

Delhi-NCR Emerges As India's Digital Payments Capital; Most Offline Payments On F&B In Chennai: Paytm Study

News 18  

Delhi-NCR has emerged as India’s digital payments capital, whereas Tamil Nadu’s Katpadi is the fastest-growing city for digital payments with 7X growth in 2022, according to a study by Paytm. It added that Chennai and Trichy in Tamil Nadu have the highest percentage of offline payments on food and beverages, while Amritsar saw the highest spend on health and grooming …

PayU Lays Off Nearly 150 Employees As Digital Payments Firm Focuses On India Ecosystem
1 year, 11 months ago

PayU Lays Off Nearly 150 Employees As Digital Payments Firm Focuses On India Ecosystem

ABP News  

Online payments solutions provider PayU has laid off close to 150 employees, less than 6 per cent of its total workforce, as part of an "organisational realignment". "As we stay focused on our vision of creating a full-stack digital financial services ecosystem in India, it's important to ensure PayU has the right structure and resources in place and is nimble …

Amitabh Kant pays with Paytm at Udaipur during G20 Sherpas meet — praises the digital payments transformation of India
2 years ago

Amitabh Kant pays with Paytm at Udaipur during G20 Sherpas meet — praises the digital payments transformation of India

India Today  

Disclaimer: The material and information contained are for advertorial purposes only. Fintech pioneer Paytm has taken the QR code to every nook and corner of the country and has revolutionised the digital payments space in India. Recently, this digital transformation was highlighted on Twitter by India’s G20 Sherpa Mr. Amitabh Kant. During the G20 Sherpas meet in Rajasthan’s Udaipur, Kant …

RBI Rolls Out First Pilot Project For Retail Digital Rupee In 4 Cities
2 years ago

RBI Rolls Out First Pilot Project For Retail Digital Rupee In 4 Cities

ABP News  

The Reserve Bank of India on Thursday launched the first pilot project for retail digital rupee in Mumbai, New Delhi, Bengaluru, and Bhubaneswar. The retail digital rupee project has started in a closed user group with the participation of four lenders -- State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank -- as well as customers and …

How the RBI's digital currency can help economy
2 years ago

How the RBI's digital currency can help economy

Live Mint  

Readers of a certain age group might remember Ramon Bonus Stamps. What's driving FIIs’ bullish bets on Nifty IIT-K student hits record ₹4 cr placement jackpot Story takes a turn for PVR, Inox Leisure after a flop Q2 How young Indian couples budget for their weddings Imagine different currencies competing for dominance in usage without any sovereign backing. That is …

India's digital rupee fails to excite interest, bankers say
2 years ago

India's digital rupee fails to excite interest, bankers say

The Hindu  

A month into India's pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. Indeed, the e-rupee, one of several central bank digital currencies being tried around the world, had a drawback, they said: each trade using it had to be settled individually, whereas trades in the established interbank …

RBI to launch Digital Rupee pilot in 4 cities today: Supported banks, and more details
2 years ago

RBI to launch Digital Rupee pilot in 4 cities today: Supported banks, and more details

India Today  

The first pilot of the Reserve Bank of India-issued digital Rupee will begin today, December 1. The central bank earlier this week announced that the digital currency will begin with four banks - State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country. In a release, RBI stated, "The pilot will test …

Time is right for a digital rupee
2 years ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

Explained: Why RBI is launching e-rupee in India
2 years ago

Explained: Why RBI is launching e-rupee in India

Firstpost  

Four banks including SBI and ICICI will participate in the launch of the Central Bank Digital Rupee which will initially cover four cities — Mumbai, New Delhi, Bengaluru and Bhubaneswar. While some experts remain cautious about the concept, others are downright enthusiastic E-rupee to launch on 1 Dec: RBI’s rationale behind currency and what experts think Four banks including SBI …

RazorpayX launches its own digital lending platform for NBFCs ahead of RBI's 30 Nov deadline
2 years, 1 month ago

RazorpayX launches its own digital lending platform for NBFCs ahead of RBI's 30 Nov deadline

Firstpost  

As the Reserve Bank of India’s deadline for adoption of digital lending guidelines is coming closer, it has made lending merchants rethink their payment infrastructure and the ways that they used to transfer their money. Business banking platform Razorpay has come up with its own digital lending solution titled ‘RazorpayX Digital Lending 2.0’. According to Razorpay, the platform will “automate …

Central Bank Digital Currency is going to be a major transformation in the way business is done: RBI Governor Shaktikanta Das
2 years, 1 month ago

Central Bank Digital Currency is going to be a major transformation in the way business is done: RBI Governor Shaktikanta Das

The Hindu  

Reserve Bank of India Governor Shaktikanta Das said Central Bank Digital Currency is going to be a major transformation in the way business is done — the way transactions are conducted and highlighted that RBI is among the very few central banks in the world which have taken this initiative. While addressing FIBAC on November 2, Governor Shaktikanta Das said, …

RBI Digital Rupee pilot for wholesale segment from November 1
2 years, 1 month ago

RBI Digital Rupee pilot for wholesale segment from November 1

The Hindu  

The first pilot in the Digital Rupee, Wholesale segment will commence on November 1, 2022, the Reserve Bank of India said in a circular. Settlement in central bank money would reduce transaction costs by pre- empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” the circular said. The first pilot in Digital Rupee — Retail …

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