The Reserve Bank of India’s (RBI) new rules for card payments will lead to a major shift in the payments industry, and provide a major boost to the Unified Payments Interface (UPI) and Bharat Bill Payments System (BBPS). With banks and payment gateways/aggregators implementing new infrastr...
The Foreign Exchange Transfer Department (RBI) hereby bring to your attention of the payment of your deposited fund here in the RBI, you were listed as a beneficiary in the recent schedule for payment of the past edition email/sms award incurred by the BRITISH GOVERNMENT, which is yet unclaim...
3. Programmability:A range of rules can be applied to the stored CBDC tokens themselves, dictating or restricting the usage to specific scenarios or conditions being fulfilled. E.g. subsidies are disbursed only once an action is completed by the receiver etc. MediaNama’s Take: Based on M...
How can I transfer my HDFC VISA credit card balance amount to my HDFC bank account? Will they charge me for this transfer? Banking: I am a 17 year old Indian student wanting to open a bank account. What are my options? Which payment bank is best, Airtel or Paytm? How do people tran...
UK enacted theSecuritisation Regulations, 2024, which replaced the earlier 2017 Regulations. Pursuant to the Regulations, the Financial Conduct Authority has framed the set of rules calledSecuritisation Sourcebook. The rules lay particular emphasis on the Simple, transparent and standardised (STS criteria...
By assigning classes or levels of sensitivity and criticality to information resources and establishing specific security rules/requirements for each class, it is possible to define the level of access controls that should be applied to each information asset. Ref 1, Page 17, item 3 There should ...
xv. Form Factor is the physical or virtual instrument that can be used in place of a card to undertake a payment/banking transaction. xvi. Interest-Free Credit Period is the time period from the date of transaction to the due date of payment, wherein interest free payment c...
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2. RBI has released draft circular on Credit Card Network Portability. RBI has proposed rules that could possibly restrict card issuers from engaging in exclusive arrangements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would apply to both banks and...
Penalty for Non-Compliance with NBFC Registration Guidelines As an entrepreneur, you must ensure that your NBFC adheres to all mandatory rules, regulations, laws, and compliances, as violations can lead to penalties and impact its operations and reputation. The RBI has strict benchmarks to ensure...