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May the Wallet users beware of

BE/RBI NOTE/38/2018 Mobile wallet companies submit monthly status reports to RBI.  This is being closely watched and monitored by Reserve Bank of India. RBI checks as to how many wallet users have created and how many of them have completed authentication or Know Your Customer formalities in line with the RBI directives. In an ecosystem

May the Wallet users beware of

BE/RBI NOTE/38/2018 Mobile wallet companies submit monthly status reports to RBI.  This is being closely watched and monitored by Reserve Bank of India. RBI checks as to how many wallet users have created and how many of them have completed authentication or Know Your Customer formalities in line with the RBI directives. In an ecosystem

RBI to open up OMO this week

BE/RBI NOTE/37/2018 It is likely that RBI might conduct Open Market Operations this week to bring in liquidity in the banking system. To curb volatility in the money supply, RBI has intervened in the foreign exchange market which has otherwise resulted in the liquidity crunch and further reducing the rupee value against Dollar to Rs.

RBI to open up OMO this week

BE/RBI NOTE/37/2018 It is likely that RBI might conduct Open Market Operations this week to bring in liquidity in the banking system. To curb volatility in the money supply, RBI has intervened in the foreign exchange market which has otherwise resulted in the liquidity crunch and further reducing the rupee value against Dollar to Rs.

RBI Deadline on NPAs

BE/RBI NOTE/36/2018 Three public Sector banks viz Punjab National Bank, Andhra Bank and United Bank of India have put Non-performing assets worth Rs. 4,441 crore on sale. PNB has put on sale 21 accounts amounting to Rs. 1320 crore Andhra Bank has put on sale 53 accounts amounting to Rs. 2549 crore United Bank of

RBI Deadline on NPAs

BE/RBI NOTE/36/2018 Three public Sector banks viz Punjab National Bank, Andhra Bank and United Bank of India have put Non-performing assets worth Rs. 4,441 crore on sale. PNB has put on sale 21 accounts amounting to Rs. 1320 crore Andhra Bank has put on sale 53 accounts amounting to Rs. 2549 crore United Bank of

RBI PUTS A BREAK ON FINO BANK OPERATIONS

BE/RBI NOTE/35/2018 Mumbai based FINO PAYMENTS BANK has entered into problems.  RBI has directed them to stop  opening new Accounts till the processes stipulated are duly followed.  This relates to Deposits Limits which is restricted to rupees one lac. Also, it is learnt that Paytm Payments Bank has been advised to stop acquiring fresh customers

RBI PUTS A BREAK ON FINO BANK OPERATIONS

BE/RBI NOTE/35/2018 Mumbai based FINO PAYMENTS BANK has entered into problems.  RBI has directed them to stop  opening new Accounts till the processes stipulated are duly followed.  This relates to Deposits Limits which is restricted to rupees one lac. Also, it is learnt that Paytm Payments Bank has been advised to stop acquiring fresh customers

RBI Report on Demonetised Notes

BE/RBI NOTE/34/2018   An RBI report released states that as much as 99.3 per cent of the junked Rs. 500 and Rs. 1000 which were demonetized by the Government has since returned to the banking system. RBI also stated that only a miniscule percentage of currency was left out of the system after the Government’s

RBI Report on Demonetised Notes

BE/RBI NOTE/34/2018   An RBI report released states that as much as 99.3 per cent of the junked Rs. 500 and Rs. 1000 which were demonetized by the Government has since returned to the banking system. RBI also stated that only a miniscule percentage of currency was left out of the system after the Government’s