The Reserve Bank's regulatory action on Paytm Payments Bank has drawn the attention of fintech firms to the importance of complying with laws, Union Minister Rajeev Chandrasekhar has said. In an interview to PTI, Mr. Chandrasekhar — the Minister of State for Electronics and IT — said the issue of Paytm Payments Bank is a case where a hard-charging and …
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. …
The current focus of the RBI is on – regulating licensing of payment aggregators, regulation of payments data, and discussions around regulating cryptocurrency and digital lending. Pressure to reduce transaction costs will drive more businesses to adopt technology innovation In today’s extremely competitive business environment, all businesses must invest in technological upgrades to stay competitive and save costs. Banks, to …
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