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...
By Reuters | Jan. 31, 2024, at 2:37 p.m. Save More 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. Pi...
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...
PhonePe received an In-Principle Approval to operate as an Account Aggregator (AA) from the Reserve Bank of India (RBI), the company announced in a press release. The company added that this will clear the way for Walmart-owned PhonePe to launch its own AA platform.A PhonePe spokesperson ...
ET reports that the company could have also applied for a licence to the central bank and it could already be under consideration. This though could not be verified as RBI is yet to release the names of the entities which NBFC P2P category and is said to have received multiple applications...