RBI permits banks to open specific accounts under various statutes and instructions of other regulators / regulatory departments; issues list of accounts permitted along with FAQs by Lexplosion | Dec 19, 2020 | Central, Financial Services, OPSThe Reserve Bank of India (“RBI”) by a Circular dated 14th December, 2020 has permitted banks to... Read More
RBI issues Draft Framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems; invites comments by 25.02.2020 by comtideging1971 | Feb 14, 2020 | CORP, Financial Services, statesIn a Press Release dated 10th February, 2020 the Reserve Bank of India (“RBI”) has issued... Read More
RBI updates Master Direction on Issuance and Operation of Prepaid Payment Instruments; includes credit card as a mode for prepaid payment instruments and prepaid gift instruments effective since 16th January, 2020 by comtideging1971 | Jan 21, 2020 | Banking, CORP, statesThe Reserve Bank of India (“RBI”), through a notification dated 16th January, 2020, has updated... Read More
RBI issues directions to Authorised Card Payment Networks / Non-Bank PPI issuers to provide certain facilities for transactions in ATMs, PoS and other devices 24×7; effective from 16th March, 2020 by comtideging1971 | Jan 20, 2020 | Banking, CORP, statesThe Reserve Bank of India, through a notification dated 15th January, 2020, has issued directions... Read More
RBI revises framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007 by comtideging1971 | Jan 17, 2020 | Banking, Financial ServicesIn a Circular dated 10th January, 2020, the Reserve Bank of India (“RBI”) has revised the... Read More
