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RBI relaxes norms for ECB

BE/RBI NOTE/03/2019 With a view to help in improving business RBI relaxed the norms on External Commercial Borrowings: This means all companies who are eligible to raise Foreign Direct Investment will be able to raise funds through ECB route. This results in the expanded list of eligible borrowers in the ECB route This comes in

RBI relaxes norms for ECB

BE/RBI NOTE/03/2019 With a view to help in improving business RBI relaxed the norms on External Commercial Borrowings: This means all companies who are eligible to raise Foreign Direct Investment will be able to raise funds through ECB route. This results in the expanded list of eligible borrowers in the ECB route This comes in

FINTECH START UPS TO GO FOR LENDING BUSINESS

BE/RBI NOTE/02/2019 Financial Technology has now reached its advanced stage. Fintech Start-up companies have now applied for RBI license to operate as Non-Banking Financial Companies. This would help the consumers availing credit facilities from such financial institutions to have a greater advantage and reach to various schemes and loan facilities. While some have applied for

FINTECH START UPS TO GO FOR LENDING BUSINESS

BE/RBI NOTE/02/2019 Financial Technology has now reached its advanced stage. Fintech Start-up companies have now applied for RBI license to operate as Non-Banking Financial Companies. This would help the consumers availing credit facilities from such financial institutions to have a greater advantage and reach to various schemes and loan facilities. While some have applied for

Relief to e Wallet Users

BE/RBI NOTE/01/2019   Customers using prepaid instruments and incurring liabilities due to fraud in the incidents are now given the relief if they report the fraud within three days.  This is similar to that of the rules applicable for bank frauds. Prepaid payment instruments(PPI) include Mobilewallets, Prepaidpayments cards and Paper vouchers such as Sodexo. RBI

Relief to e Wallet Users

BE/RBI NOTE/01/2019   Customers using prepaid instruments and incurring liabilities due to fraud in the incidents are now given the relief if they report the fraud within three days.  This is similar to that of the rules applicable for bank frauds. Prepaid payment instruments(PPI) include Mobilewallets, Prepaidpayments cards and Paper vouchers such as Sodexo. RBI

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