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CHIP BASED DEBIT/CREDIT CARDS

BE/RBI NOTE/57/2018 A change coming in the new year 2019.  Yes.  If your Debit/Credit card is not a chip based, you will be unable to swipe your card, as per RBI instructions.  What does RBI Circular State? All existing bank cards should be Europay,  Mastercard, Visa (EMV) chip­ and pin­based from January 1. The magnetic stripe cards will not be valid after December 31. However, with less than 2weeks to go, banks are finding it difficult to replace their old cards. It is learnt that

CHIP BASED DEBIT/CREDIT CARDS

BE/RBI NOTE/57/2018 A change coming in the new year 2019.  Yes.  If your Debit/Credit card is not a chip based, you will be unable to swipe your card, as per RBI instructions.  What does RBI Circular State? All existing bank cards should be Europay,  Mastercard, Visa (EMV) chip­ and pin­based from January 1. The magnetic stripe cards will not be valid after December 31. However, with less than 2weeks to go, banks are finding it difficult to replace their old cards. It is learnt that

NEW RBI GOVERNOR

BE/RBI NOTE/56/2018 The Government appointed Mr. Shaktikanta Das, as the Governor of Reserve Bank of India for a period of three years.  The  Appointments Committee of the Cabinet approved Mr. Das’s appointment for a three­year period.  Accordingly, the order was issued by the Department of Personnel and Training to this effect. Das retired as Secretary, Department of Economic Affairs (DEA) in 2017 Das was the face of the Government during the demonetization exercise and used to brief the media almost on a daily basis during the period November 9 and December 31, 2016. Under the current stormy relationship between the Finance Ministry and

NEW RBI GOVERNOR

BE/RBI NOTE/56/2018 The Government appointed Mr. Shaktikanta Das, as the Governor of Reserve Bank of India for a period of three years.  The  Appointments Committee of the Cabinet approved Mr. Das’s appointment for a three­year period.  Accordingly, the order was issued by the Department of Personnel and Training to this effect. Das retired as Secretary, Department of Economic Affairs (DEA) in 2017 Das was the face of the Government during the demonetization exercise and used to brief the media almost on a daily basis during the period November 9 and December 31, 2016. Under the current stormy relationship between the Finance Ministry and

Loan interest rates against External Benchmark

BE/RBI NOTE/54/2018 Effective from 1st April 2019 Interest rates on new loans will be fixed by banks against an external benchmark as per communication released by RBI.  What is cause and effect of this? The existing loans will not be affected with the change in the rules As of now banks are pricing their loans

Loan interest rates against External Benchmark

BE/RBI NOTE/54/2018 Effective from 1st April 2019 Interest rates on new loans will be fixed by banks against an external benchmark as per communication released by RBI.  What is cause and effect of this? The existing loans will not be affected with the change in the rules As of now banks are pricing their loans