The Reserve Bank of India (RBI) on Tuesday came up with a framework for pan-India umbrella entity for retail payments, wherein the central bank has said that an entity must have a minimum paid-up capital of Rs500 crore for setting up an umbrella entity for retail payment.   The RBI...
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In a major development for digital payment services, the Reserve Bank of India (RBI) has decided that payment system operators (PSOs) will have to implement online dispute resolution (ODR) systems in a phased manner.   The RBI has said that, to begin with, authorised PSOs shall be...
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The Reserve Bank of India (RBI) has come up with additional measures to curb the use of multiple operating accounts for loans wherein banks have been directed not to open current accounts for customers already availing credit in the form of cash or overdraft (OD).   During the video...
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The Reserve Bank of India (RBI) on Thursday added additional shine to gold ornaments and jewellery by allowing banks to give loans up to 90% of the value of such items pledged by borrowers.   At present, loans sanctioned by banks against pledge of gold ornaments and jewellery is up to...
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The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) has decided to keep policy rates unchanged in its August review. Due to this, repo rate would remain at 4% and reverse repo rate at 3.35%.   In his video address, RBI governor Shaktikanta Das says,...
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