The nation’s central bank hadannouncedthe committee on December 6 as part of its Statement on Developmental and Regulatory Policies. While the bank noted that Artificial Intelligence (AI) had the potential to automate complex processes and improve efficiency, it came with risks like algorithmic bias...
Note that the Working Days are 5 (five) days a week, with gazetted holidays. RBI Assistant Salary Perks and Allowances 2024 The perks and allowances provided by the Reserve Bank of India to the RBI Assistants are provided below. These allowances are an added advantage of the RBI Assistant...
Paytm Expects up to $60 Million Hit From RBI Action on Its Payments Bank More Reuters FILE PHOTO: Workers adjust a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. Picture taken January 31, 2019. REUTERS/Amit Dave/File Photo (...
The Reserve Bank of India has recognized the Fintech Association for Consumer Empowerment (FACE) as a Self-Regulatory Organisation in the FinTech sector (SRO-FT). Only FACE’s application for recognition was approved out of the three submitted to the central bank. Among the two others, one a...
The Reserve Bank of India (RBI) does not have any statistics on the usage of the retail digital rupee (e-rupee), as per a RTI response.
The Bank must also carry out on-going due diligence. A bank must update an AePS touchpoint operator’s KYC, if they have not performed any financial transaction for a continuous period of six months. Further, theNPCI and the banks must ensure that an AePS touchpoint operator is onboarded...
The approval is valid for 12 months during which PhonePe is expected to “put in place the technology platform, enter into all other legal documentations required to be ready for operations and report position of compliance with the terms of grant of in-principle approval to the Bank” as spe...
Paytm is reportedly trying to enter the lending space and is seeking a licence from the Reserve Bank of India (RBI) to become a peer-to-peer lending platform. The development, first reported by the Economic Times was sourced from filings made by the One97 Communications (Paytm’s parent com...