Tagged: reserve bank of india

March 19, 2023 @ 2:43 pm By Omar Faridi  |  

The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) signed recently a Memorandum of Understanding (MoU) in Abu Dhabi, United Arab Emirates to enhance cooperation and jointly enable innovation in financial products and services. Under the MoU, the… Read More

February 22, 2023 @ 5:31 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will “enable customers of participating financial institutions in Singapore and India [1] to send and receive funds between bank… Read More

November 4, 2022 @ 2:17 am By Omar Faridi  |  

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and other applicable provisions/ regulations, if any, Infibeam are pleased to inform that the Reserve Bank of India has granted In-Principle Authorization to operate as a Payment Aggregator under the… Read More

March 14, 2022 @ 6:25 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has reportedly instructed Paytm Payments Bank to stop onboarding new clients and to also hire an IT audit company while citing “supervisory concerns.” In an official statement, the RBI stated that Paytm Payments Bank should stop taking on new… Read More

February 28, 2022 @ 8:30 pm By Omar Faridi  |  

We recently connected with Neeraj Khandelwal, Co-founder of CoinDCX, one of India’s largest digital asset exchanges. As covered in August 2021, CoinDCX turned into India’s first crypto unicorn following a $90 million investment round led by Facebook Inc. co-founder Eduardo Saverin and B Capital Group… Read More

December 26, 2021 @ 5:47 pm By Omar Faridi  |  

In order to ensure the safety and security of the payment system, the Reserve Bank of India (RBI) has expanded the tokenization facility from an earlier version/framework to Card on File Tokenization (COFT). Virtual payments Fintech Paytm has now introduced a tokenization solution for online… Read More

November 19, 2021 @ 9:52 pm By Tony Zerucha  |  

Cashfree Payments, an Indian payments and API banking solutions company, this week launched Token Vault, a tokenized solution enabling merchants to save card network tokens, while staying compliant with Reserve Bank of India (RBI) guidelines. Token Vault also processes payments using tokenized cards as a… Read More

September 20, 2021 @ 8:51 pm By Omar Faridi  |  

NEFT or National Electronics Funds Transfer is a facility provided (in India) by nearly all the local banking institutions. As explained in a blog post by Fintech firm Paytm, NEFT is among the most preferred methods of making money transfers in India. Via NEFT, users… Read More

September 14, 2021 @ 3:31 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India today have announced their intent to link Singapore’s PayNow and India’s Unified Payments Interface (UPI) real-time payment systems by July 2022. The goal is to provide instantaneous, low-cost fund transfers directly from one… Read More

August 27, 2021 @ 3:44 pm By Omar Faridi  |  

Biometrics firm, Fingerprint Cards AB, and Seshaasai, an established smart card manufacturer in India with a strong APAC presence, have entered into an agreement “to develop, launch, market, and sell” contactless biometric payment cards in India and the wider APAC region, according to a release…. Read More

August 18, 2021 @ 10:45 pm By Omar Faridi  |  

SATYA MicroCapital has reportedly acquired ₹135cr (appr. $18.17 million) in capital. The past year has been quite challenging for non-banking finance companies (NBFCs), especially when it comes to acquiring funds, because of the “liquidity crisis” in the sector following the Covid-19 outbreak. As mentioned in… Read More

July 30, 2021 @ 9:04 pm By Omar Faridi  |  

Welcoming the Reserve Bank of India’s (RBI) move to permit authorized or approved non-bank payment system providers to take part in centralized payment systems (CPS), the Payments Council of India (PCI), the nation’s largest industry body for the non-banking digital payments ecosystem, has confirmed that… Read More

July 15, 2021 @ 7:50 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) revealed on Wednesday (July 14, 2021) that it has decided to indefinitely ban Mastercard Inc (NYSE: MA) from providing any new debit or credit cards to local clients for allegedly violating data storage guidelines. This move appears to be… Read More

March 27, 2021 @ 5:23 pm By Omar Faridi  |  

Local sources in India have commented on why the government may want residents to disclose their digital currency holdings. Industry professionals in the country have pointed out that the Indian corporate affairs ministry could be looking for disclosures from firms in order to get a… Read More

March 26, 2021 @ 11:50 pm By Omar Faridi  |  

Digital payments in India are being increasingly adopted by businesses and individual consumers. Online lending platforms are also becoming more popular in the country that’s home to around 1.5 billion residents. The Reserve Bank of India (RBI) has introduced several initiatives that are aimed at… Read More

March 12, 2021 @ 10:31 pm By Omar Faridi  |  

The Capital confirms that India has been going through a major regulatory process related to the nascent cryptocurrency markets. The Capital notes that the advancements in other areas of crypto such as the innovation in decentralized finance (DeFi) in the 21st century might have taken… Read More

March 9, 2021 @ 10:34 pm By Omar Faridi  |  

The Indian government may not completely ban (or attempt to) the use of decentralized cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). During a recent interview (conducted on March 5, 2021), India’s finance minister Nirmala Sitharaman clarified that she intends to support innovative crypto initiatives. #CNBCTV18IBLA… Read More

February 2, 2021 @ 10:16 pm By Omar Faridi  |  

Bengaluru-based Simpl, a company that aims to make money simple, so that people can “live well and do amazing things,” has noted that the recent India budget appears to be focusing on the “revival” of inclusive economic growth and an “expansionary fiscal policy that prioritized… Read More

January 31, 2021 @ 11:50 pm By Omar Faridi  |  

The Indian Parliament will reportedly be considering a government-supported bill that could place a ban on “private” cryptocurrencies during its upcoming budget session. Since the nation’s ruling party has control over both houses of Parliament, there’s a fairly good chance that the proposed bill could… Read More

January 2, 2021 @ 11:05 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has introduced a new index in order to measure the growth and adoption of digital payments in the country. The RBI revealed that virtual payments grew 2x in March 2020 when compared to March 2018. The index was created… Read More