Tagged: reserve bank of india

August 28, 2024 @ 3:22 am By Michael Wong  |  

The Reserve Bank of India (RBI) has announced tightened regulations for peer-to-peer (P2P) non-bank lending platforms, effective immediately, in response to some entities’ violations of the 2017 guidelines. The move aims to enhance transparency and ensure stricter compliance with regulatory standards, addressing concerns that certain… Read More

August 26, 2024 @ 4:12 pm By JD Alois  |  

Shri Shaktikanta Das, Governor of the Reserve Bank of India, touched on multiple topics pertaining to Fintech at a global conference entitled Digital Public Infrastructure and Emerging Technologies. Digital Public Infrastructure (DPI) and Emerging Technologies are expected to shape the futures of all economies, said… Read More

April 26, 2024 @ 5:20 pm By Michael Wong  |  

The Reserve Bank of India (RBI) released a comprehensive set of Frequently Asked Questions (FAQs) to elucidate its guidelines on Default Loss Guarantee (DLG) in the burgeoning field of digital lending. This release aims to provide detailed clarifications on the operational aspects of DLG, a… Read More

March 31, 2024 @ 2:18 pm By Michael Wong  |  

The Reserve Bank of India is contemplating the establishment of the Digital India Trust Agency (DIGITA) in a move to combat the escalating cyber fraud. This initiative aims to clamp down on the proliferation of illicit lending applications by instituting a verification system for digital… Read More

February 18, 2024 @ 1:21 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) claims that it aims to adopt a “hands-off” approach to regulating Fintech companies across a nation that’s home to around 1.5 billion consumers. In addition to taking a step back from aggressively monitoring Fintechs for now, the reserve bank… Read More

February 6, 2024 @ 12:47 pm By Omar Faridi  |  

Nium, the enabler of real-time global payments, announces it has received in principle approval from the Reserve Bank of India for two payment licenses – the Prepaid Payment Instrument (PPI) License and the Payment Aggregator (PA) License. The two licenses will allow the global payments… Read More

February 1, 2024 @ 10:19 am By JD Alois  |  

Paytm, the operating name of One 97 Communications Limited (PAYTM.NS), shares cratered today as the Reserve Bank of India (RBI) decided to halt deposits in its digital wallet and accounts. Paytm describes itself as India’s most loved payments app. The company also operates Paytm Payments… Read More

January 14, 2024 @ 5:42 pm By Michael Wong  |  

Reserve Bank of India (RBI) Governor Shaktikanta Das refuted claims that new digital lending guidelines would hinder fintech growth, asserting instead that investor confidence in the sector has risen since their implementation. Speaking at the Mint BFSI conclave in Mumbai, Das highlighted the positive impact… Read More

January 2, 2024 @ 2:22 am By Omar Faridi  |  

Jaya Vaidhyanathan, CEO, BCT Digital, recently shared key insights with CI that are focused around the banking sector and unsecured loans offered in India (along with the Reserve Bank of India’s recent policy decisions). Jaya from BCT Digital notes that as we enter 2024, the… Read More

August 7, 2023 @ 9:29 pm By Omar Faridi  |  

Mastercard (NYSE: MA) recently announced the introduction of Cardholder Verification Code (CVC)-less online transactions “for its debit and credit cardholders who have tokenized their cards on merchant platforms.” The move aims to “reduce the checkout time and make virtual transactions hassle-free and more secure.” CVC… Read More

July 10, 2023 @ 10:25 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) is reportedly working on a new regulatory framework that should be more “developmental” and conducive for financial technology or Fintech firms. This, according to a deputy governor of the reserve bank (as first reported by Reuters this past Friday)…. Read More

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