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Introduction 1. Payment Banks, as per RBI guidelines, are a new category of banks conceptualised to provide efficient banking services to small businesses and low-income households. 2. These banks focus on facilitating financial transactions, including receiving deposits and making payments, but do not undertake lending activities like traditional banks. Maximum Balance: Payment banks are initially

Payment Banks seek more privileges

Introduction 1. Payment Banks, as per RBI guidelines, are a new category of banks conceptualised to provide efficient banking services to small businesses and low-income households. 2. These banks focus on facilitating financial transactions, including receiving deposits and making payments, but do not undertake lending activities like traditional banks. Maximum Balance: Payment banks are initially

Finance Minister Nirmala Sitharaman on Wednesday asked financial sector regulators, including the Reserve Bank of India (RBI), to take further measures to check spread of unauthorised lending through online apps.Addressing the 28th meeting of the Financial Stability and Development Council (FSDC) here, Sitharaman also asked regulators to maintain constant vigil and be proactive towards detecting

FM asks financial sector regulators to take more steps to curb unauthorised lending apps

Finance Minister Nirmala Sitharaman on Wednesday asked financial sector regulators, including the Reserve Bank of India (RBI), to take further measures to check spread of unauthorised lending through online apps.Addressing the 28th meeting of the Financial Stability and Development Council (FSDC) here, Sitharaman also asked regulators to maintain constant vigil and be proactive towards detecting

Addressing concerns around the curbs imposed on Paytm Payments Bank, the Reserve Bank of India issued an FAQ (Frequently Asked Questions) detailing what will be the future of the bank, how can customers and merchants utilise or withdraw their funds, and what will be allowed post March 15. Businessline breaks it down: What happens to

Paytm Payments Bank: What do the RBI curbs mean for users?

Addressing concerns around the curbs imposed on Paytm Payments Bank, the Reserve Bank of India issued an FAQ (Frequently Asked Questions) detailing what will be the future of the bank, how can customers and merchants utilise or withdraw their funds, and what will be allowed post March 15. Businessline breaks it down: What happens to

In Press Release dated March 11, 2022, the Reserve Bank of India, in exercise of its powers under section 35A of the Banking Regulation Act, 1949, had directed Paytm Payments Bank Ltd (PPBL or the bank) to stop onboarding of new customers with immediate effect. 2. The Comprehensive System Audit report and subsequent compliance validation

Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949

In Press Release dated March 11, 2022, the Reserve Bank of India, in exercise of its powers under section 35A of the Banking Regulation Act, 1949, had directed Paytm Payments Bank Ltd (PPBL or the bank) to stop onboarding of new customers with immediate effect. 2. The Comprehensive System Audit report and subsequent compliance validation

It has come to the fore, that borrowings by NBFCs from commercial banks is on an increase and Reserve Bank of India, the apex Regulator has noted the same with concern. RBI has hence advised the NBFCs to diversify their funding sources in the coming year ie. 2024, due to the rising competition in the

NBFCs should diversify funding sources in 2024

It has come to the fore, that borrowings by NBFCs from commercial banks is on an increase and Reserve Bank of India, the apex Regulator has noted the same with concern. RBI has hence advised the NBFCs to diversify their funding sources in the coming year ie. 2024, due to the rising competition in the