PAYMENT SYSTEM
India-Russia summit in Moscow to focus on payment system for trade Prime Minister Narendra Modi and President Vladimir Putin are set to focus on enhancing financial transactions between India and Russia during their annual summit in Moscow. With Russia facing SWIFT restrictions, both leaders aim to establish quicke...
07 Jul, 2024, 05.00 AM ISTBroadcasters move NCLAT against Google fees on apps The Indian Broadcasting & Digital Foundation (IBDF), representing TV broadcasters and OTT platforms, appealed to the National Company Law Appellate Tribunal (NCLAT) against an interim order from the Competition Commission of India (CCI). The CCI den...
06 Jul, 2024, 12.39 AM ISTNew credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
04 Jul, 2024, 03.57 PM IST- ADVERTISEMENT
India, four SE Asia countries plan instant retail cross-border payments Five central banks from India, Malaysia, Thailand, Singapore, and the Philippines collaborate on Project Nexus, a cross-border retail payments platform set to launch by 2026, facilitated by the Bank for International Settlements (BIS). Nexus will in...
01 Jul, 2024, 02.09 PM ISTAirbus says will buy 'major activities' of subcontractor Spirit European aerospace giant Airbus announced on Monday its intention to acquire major activities related to Airbus from subcontractor Spirit AeroSystems. This move comes as US competitor Boeing prepares to take over the majority of Spirit AeroSystems' ...
01 Jul, 2024, 11.43 AM ISTHitachi Payment Services receives RBI nod for payment aggregator Hitachi Payment Services has received RBI's final authorization to operate as an Online Payment Aggregator under the Payments and Settlement Systems Act, 2007. This authorization allows Hitachi to expand its digital services, offering comprehensive ...
27 Jun, 2024, 01.21 PM ISTCredit card bill payment hurdles; startup funding logs slight uptick Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dis...
21 Jun, 2024, 07.10 AM ISTRBI using forex market tools to ease liquidity tightness RBI uses forex tools to inject cash into banking system ahead of large outflows due to advance tax payments, keeping borrowing costs low and increasing reserves without impacting inflation-fighting stance.
13 Jun, 2024, 07.30 AM ISTRBI strikes against UPI, digital payment fraud, plans to set up a digital payment intelligence platform Fight against digital payment frauds: The RBI proposes a digital payments intelligence platform to combat a surge in digital payment frauds. Fraud cases reported to the RBI jumped 300% to 36,000 in FY23 compared to FY22, highlighting the need for a ...
10 Jun, 2024, 02.38 PM ISTInadequate tech at banks to blame for UPI downtimes RBI governor Shaktinata Das mentioned that downtime in the UPI payment system is primarily due to weak technology on the banks' side rather than issues from NPCI. The volume of UPI transactions per day exceeds 450 million, with several instances of ...
08 Jun, 2024, 01.11 AM ISTR Gandhi welcomes RBI's focus on banking safety and payment system soundness RBI has been paying more attention on that in recent months, especially the disclosure, relating to the terms and conditions of the most important terms and conditions of the credit that is being offered by the credit institutions and there that is ...
07 Jun, 2024, 12.04 PM ISTNPCI, Peru central bank ink pact to build UPI-like payments system The partnership makes Peru the first South American nation to adopt NPCI’s technology. It will enable BCRP to facilitate instant payments between individuals and businesses within Peru, and expand the usage of digital payments among the country’s la...
05 Jun, 2024, 08.34 PM ISTRBI, payment industry meet discusses contours of new draft PA guidelines The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withd...
04 Jun, 2024, 06.00 AM ISTIBA chief explains what bank frauds really are, stresses on critical 'golden hour' As per the RBI's recent annual report, fraud cases surged to 36,075 in FY24, marking a significant rise from 13,564 reported in the previous fiscal year. The report highlighted that a majority of these frauds, in terms of volume, were related to dig...
03 Jun, 2024, 01.56 PM ISTRBI to boost rupee's internationalisation, liberalise norms for non-residents The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to libera...
31 May, 2024, 10.28 AM ISTHSBC and StanChart step up GIFT City play, buy stakes in CCIL-IFSC "Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.
22 May, 2024, 06.07 AM ISTCCI unable to prove market dominance, Google tells NCLAT Google argued before the National Company Law Appellate Tribunal (NCLAT) that the Competition Commission of India (CCI) order, which imposed a penalty of Rs 936 crore on the company, was vague and excessive. The company contended that the regulator ...
08 May, 2024, 11.42 PM ISTRBI Guv Shaktikanta Das discusses ways to scale up UPI ecosystem with stakeholders Reserve Bank Governor Shaktikanta Das held a meeting with banks, NPCI, third-party application providers, and technology service providers to discuss strategies for expanding the UPI ecosystem. The discussions covered strategies for scaling up UPI i...
08 May, 2024, 06.40 PM ISTIndia, Ghana agree to operationalise UPI link in 6 months India and Ghana plan to implement UPI on GHIPSS in 6 months. JTC meeting explored MoU on Digital transformation, Local Currency Settlement, AfCFTA opportunities in Accra, led by Commerce Ministry.
06 May, 2024, 10.58 PM ISTNPCI inks pact with Bank of Namibia for developing UPI-like instant payment system This strategic partnership aims to enhance digital financial services and bolster real-time Person-to-Person (P2P) and Merchant payment transactions (P2M) in the African nation.
02 May, 2024, 01.37 PM IST