PayU Payments Private Limited, a key player in India's digital financial services sector, backed by Prosus as an investor, manages businesses subject to regulation by the Reserve Bank of India. It provides sophisticated solutions to address the digital payment needs of the Indian market.
The RBI's action follows deficiencies in Kotak Bank's IT risk management and information security governance.
The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front.
Former Reserve Bank of India (RBI) Governor D Subbarao the public should be made more aware of the cost and benefits of these freebies and that it is the responsibility of the government to educate the population on this.
Ahead of the polls, states like Uttarakhand, Nagaland, and Tamil Nadu have declared special holidays to ensure citizens’ participation. States such as Arunachal Pradesh, Assam, Bihar, Chhattisgarh, and others have also announced bank holidays for April 19, 2024, in line with the elections.
The draft said non-banks providing PA-P services should have a minimum networth of Rs 15 crore at the time of submitting an application to the RBI for authorisation and a minimum networth of Rs 25 crore by March 31, 2028.
India's forex reserves jumped to hit a fresh peak of USD 648.56 billion, RBI said on Friday.
Business news: According to the Reserve Bank of India, Gold reserves increased USD 673 million to USD 52.16 billion during the week. The Special Drawing Rights were down USD 73 million to USD 18.145 billion, the apex bank added.
The Reserve Bank of India's Monetary Policy Committee (MPC) announced the first policy outcome of the financial year 2025 on April 05. On monetary policy decisions, RBI Governor Shaktikanta Das said, "The Reserve Bank decided to keep the Policy Repo Rate unchanged at 6.5%".
The Reserve Bank of India (RBI), led by Governor Shaktikanta Das, has announced the decision to maintain the Policy Repo Rate at 6.5%. This steady stance indicates a deliberate approach towards economic stability.
The Reserve Bank of India said the Rs 2,000 notes, that were in circulation till May 19, 2023, continue to be legal tender.
PM Narendra Modi attended the inauguration event for the commemoration of 90 years of the RBI in Mumbai on Monday and pitched the idea for studying a newer banking structure to fund future needs of the country.
PM Narendra Modi will visit Mumbai on Monday to attend the 90th year celebrations of the Reserve Bank of India. The Mumbai Police has issued a traffic advisory for the commuters to ensure smooth traffic.
The Reserve Bank of India shared the list of bank holidays for the upcoming month which includes Sundays, second and fourth Saturdays as well as a list of public holidays.
The Reserve Bank of India (RBI) declared the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023.
Along with the banks, the income-tax department had also announced that it has decided to cancel the long weekend for its employees.
Audit firms empanelled by the Securities and Exchange Board of India (Sebi) for forensic audit can participate in the tendering process, and the last date for submission of bids is April 8, as per the tender document published by the Reserve Bank of India.
The central bank has urged all agency banks involved in government transactions to keep their services available to the public on Sunday, March 31.
RBI said that card issuers need to provide an option to their eligible customers to choose from multiple card networks at the time of issue.
The RBI has directed JM Financial Products Limited to cease financing against shares and debentures due to significant deficiencies observed in its lending practices. This directive, prompted by a review of the company's books, aims to ensure financial stability and uphold regulatory standards.
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