In response to a recent social media buzz surrounding the authenticity of Rs 500 notes featuring a star (*) in the middle of the serial number, the Reserve Bank of India (RBI) has stepped forward...
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Bank employees in India may finally see their long-standing demand for a two-day weekend become a reality. The Indian Banking Association (IBA) has recently approved a proposal to extend the weekend to five days, marking...
RBI cancels banking licenses for two cooperative banks in Maharashtra and Karnataka.
In view of inadequate capital and profit potential, the Reserve Bank of India has revoked banking licenses for two cooperative banks in Maharashtra and Karnataka.The banks have stopped operations and depositors are entitled to an...
The Reserve Bank of India (RBI) has cancelled the licenses for many Co-operative banks for the year ended 31 March 2023 and also prohibited all the transactions in those banks. Severe fines were imposed on...
Last year when the Reserve Bank of India(RBI) disclosed guidelines on cross-border trade transactions in the INR, the procedure of opening a Special Rupee Vostro Account (SRVA) started. SRVA is an account which domestic banks...
On Monday the rupee fell by 84 paise and closed at its lifetime low of 77 rupees against the US dollar. Previously on Friday, the value dropped by 23 paise closing at 76.17, marking the...
Mumbai: India is probably going to ban the usage of crypto currencies for making or doing payments, but permits them to be used as assets like gold,shares or bonds etc. According to chainalysis, India’s digital...
As the banking services are expanding their wings across the world, we all have easy access to cash with the help of Automated Teller Machines(ATM). ATMs facilitate quick withdrawal of cash from respective accounts without...
MasterCard, an American multinational finance services corporation founded in 1979Â acts as a bridge between the card issuer and the merchants for payments. It has tie-ups with many financial institutions and provides debit, credit and...
RBI’s new direction for customers to memorize debit card and credit card numbers.
The Reserve Bank of India (RBI) is the central bank which deals with India’s monetary policies and economic stability. It is the regulatory body under the Ministry of Finance, Government of India. RBI has issued...