RBI Allows Customers Without Bank Accounts to Send Up to ₹50,000 Through Cash Pay-in Service
The Reserve Bank of India (RBI) has issued a consolidated framework for domestic money transfers, allowing individuals without bank accounts…
Section
Category: Fintech & Banking
Banking, RBI, UPI, payments and fintech news.
SMBC Plans to Consolidate India Operations Under Yes Bank by FY29, Informs RBI
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has told the Reserve Bank of India (RBI) that it plans to consolidate its…
HDFC Bank Hikes MCLR Rates by Up to 15 Basis Points Across All Tenures
HDFC Bank has increased its Marginal Cost of Funds-Based Lending Rates (MCLR) by 5 to 15 basis points across all…
RBI Asks Some Banks to Classify Bond Forwards as Level 3 Assets
Key Takeaways RBI Asks Banks to Revisit Bond-Forward Valuations The Reserve Bank of India has reportedly asked some banks to…
UPI Merchant Payments Share Stagnates at 63% as Zero MDR Hurts Merchant Acquisition by Banks and Fintech Apps
India’s Unified Payments Interface (UPI) has transformed the country’s digital payments ecosystem, but its expansion into merchant transactions is showing…
HDFC Bank Raises Fixed Deposit Rates by Up to 50 Basis Points: Check New FD Rates
HDFC Bank has increased interest rates on select fixed deposits (FDs) by up to 50 basis points, offering higher returns…
Crypto Cards Enter RBI’s Radar as Indians Use Offshore Wallets for Everyday Payments
Offshore cryptocurrency-linked cards are drawing scrutiny from India’s financial regulators after some residents reportedly began using them to make routine…
RBI’s ₹50,000 Crore VRRR Auction Gets Muted Response as Banks Bid Only ₹23,905 Crore
The Reserve Bank of India’s (RBI) latest liquidity absorption operation has received a subdued response from banks, with lenders submitting…
RBI confirms adequate supply of smaller currency notes
In its public clarification, the RBI said that certain elements were fraudulently using the central bank’s name and logo to…
Banks in No Rush to Raise Loan Rates After RBI’s 25 BPS Repo Rate Hike
Indian banks are taking a measured approach to raising lending rates after the Reserve Bank of India (RBI) increased the…