[ad_1] Para of MD Existing Provision Amended Provision 7(c) Card-issuers may issue business credit cards to business entities/individuals for business expenses. The business credit cards may also be issued as charge cards, corporate credit cards or by linking a credit facility such as overdraft/cash credit provided for business purpose as per the terms and conditions…
[ad_1] Shivratri 2024 bank holiday: As the country gears up to celebrate Mahashivratri on March 8, several states will experience an extended weekend as banks remain closed. The decision to close banks during this time is in accordance with directives from state governments and the Reserve Bank of India (RBI).According to the central bank’s holiday…
[ad_1] New KYC updation process soon? Banks are working on strengthening their KYC (Know Your Customer) standards by adding extra verification layers to identify accounts and account holders. This initiative is being discussed with the Reserve Bank of India (RBI) and the government. The plan includes updating all existing accounts, especially those with a single…
[ad_1] Money deadlines in March 2024: As the current financial year is set to end, it’s important not to overlook important deadlines that could affect your finances. These dates involve regulations that taxpayers and investors must adhere to, in order to avoid penalties or fines for missing them. As per an ET report, here are…
[ad_1] New RBI rules for home loans: Rising interest rates over the past year have led to longer home loan repayment periods for many borrowers. Some are now facing the prospect of repaying their loans well into retirement. Typically, when interest rates rise, banks extend the loan tenure to prevent borrowers from facing higher monthly…
[ad_1] The Unified Payments Interface (UPI) is a real-time payment system created by the National Payments Corporation of India (NPCI), which operates under the regulatory oversight of the Reserve Bank of India (RBI). Leveraging the IMPS infrastructure, UPI enables immediate transfer of funds between the bank accounts of any two parties.The primary purpose of UPI…
[ad_1] Paytm crisis: Paytm’s impending exit from the employee benefits market due to regulatory actions against its payments bank and mobile wallet has paved the way for other players like Pluxee (formerly Sodexo), Zaggle, and banks to grow their presence in this sector.ET quoted a senior fintech executive saying that large corporations are seeking alternative…
[ad_1] NEW DELHI: The Reserve Bank of India (RBI) has imposed a monetary penalty on the State Bank of India (SBI) Rs 2 crore under the relevant section of the Banking Regulation Act. According to a statement, this action was taken due to shortcomings in regulatory compliance and does not signify a judgment on the…
[ad_1] RBI’s tips to prevent banking frauds: In recent years, banking frauds have risen notably. The Reserve Bank of India (RBI) has issued multiple guidelines and tips to help customers guard against scams. What measures should you take to protect yourself and your money from fraudsters?Here are essential measures you should take to protect your…
[ad_1] The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India (NPCI) to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow Paytm to continue processing payments via India’s popular unified payments interface…
