The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.76 crore on Vakrangee Limited (the entity) for non-compliance with certain provisions […]
Category: BFSI
Bima Sugam to be game changer for insurance sector, says IRDAI Chairman Panda
Insurance regulator IRDAI is working on Bima Sugam, which will act as a game changer in the insurance sector by providing a one-stop platform for […]
Credit card numbers continue to slip after RBI’s deactivation order
The Reserve Bank of India (RBI) order on discontinuing inactive credit cards continued to negatively impact the industry size, with top-tier lenders such as HDFC […]
Remove withdrawal restrictions on basic savings bank deposit accounts for digital payments: Report
The Reserve Bank needs to keep digital payments outside the purview of withdrawal restrictions on zero-balance basic savings bank deposit (BSBD) accounts and let the […]
Illegal digital lending apps driving citizens to suicide, says Ministry of Home Affairs
Following the arrest of Chinese nationals allegedly involved in digital loan app scam, the Ministry of Home Affairs has in a letter to states and […]
Infibeam Avenues receives RBI in-principle nod for payment aggregator licence
Infibeam Avenues, the operator of CCAvenue, has received an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator. “Under this provision, […]
‘Potentially transformational’: Commonwealth Secy Gen welcomes India’s UPI sharing offer
Commonwealth Secretary General Patricia Scotland has welcomed India’s offer to share its path-breaking Unified Payments Interface (UPI) technology with other members of the Commonwealth of […]
NARCL to make its first acquisition in Jaypee Infratech
India’s state-sponsored bad bank is set to make its first distressed-debt acquisition since its formation a year ago. The National Asset Reconstruction Co (NARCL) emerged […]
Tax tribunal asks CBIC to issue rules for cases Under IBC
The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has asked the Central Board of Indirect Taxes and Customs to issue […]
Banks divert gold supply from India to China, Turkey: Report
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