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RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...
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RBI Asks Non-Banks To Stick To Rs 20,000 Loan Cash Payout Limit: Report
India's central bank has asked non-bank finance companies (NBFC) to strictly adhere to a cap of 20,000 rupees ($240) in cash loans, according to a letter seen by Reuters and two people aware of the development, in a bid to deter cash transactions.
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Paytm Payments Bank CEO Surinder Chawla Resigns
Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI.
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Can You Withdraw Money From Paytm Bank Account After March 15? RBI Answers
The Reserve Bank of India (RBI) has extended the deadline for the operations of Paytm Payments Bank Limited to March 15, 2024. The central bank had previously been told to stop certain important activities by February 29.
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Curbs On Paytm Payments Bank Services: What Happens To Your Money Now
In a major blow to Paytm Payments Bank Limited, an associate of Paytm, the RBI on Wednesday ordered the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other prepaid instruments.
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RBI Cancels Licence Of Urban Co-op Bank In UP Over Inadequate Funds
The RBI on Thursday cancelled the licence of Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh as the lender does not have adequate capital and earning prospects.
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Banks To Allow Premature Withdrawal On Term Deposits Of Up To 1 Crore: RBI
The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to Rs 1 crore, raising the limit from Rs 15 lakh currently.
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RBI Cancels License Of Nashik Zilla Girna Sahakari Bank
Reserve Bank on Tuesday cancelled the banking licence of Nashik Zilla Girna Sahakari Bank Limited as the Nashik-based lender does not have adequate capital and earning prospects.
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RBI Cancels License Of Mumbai-Based 'The Kapol Co-Operative Bank'
The RBI on Monday said it has cancelled the license of Mumbai-based The Kapol Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.
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RBI Increases UPI Lite Transaction Limit to Rs. 500, Proposes AI-Powered ‘Conversational Payments’
RBI Governor Shaktikanta Das announced an increase in UPI Lite transaction limit to up to Rs. 500 in offline mode. Besides, a few other features including conversational payments and NFC support on UPI have also been proposed to make transactions more seamless. UPI Lite was first introduced in September 2022 with a transaction limit of up to Rs. 20...
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RBI Raises Per Transaction Limit For UPI Lite To Rs 500 From Rs 200
Reserve Bank on Thursday proposed to increase the per transaction payment limit to Rs 500 for UPI Lite in offline mode and announced other measures to further deepen the reach and use of digital payments in the country.
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No Communication From RBI On CEO Succession: Kotak Mahindra Bank
Kotak Mahindra Bank's current CEO Uday Kotak's term ends in December this year, and as per RBI's new rules on limiting the tenures of CEOs, he cannot continue in the office.
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Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
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India Expected To Continue Hiking Rates, Despite Global Rethink: Analysts
India's headline and core inflation has been unrelenting, with data post market close on Monday showing annual retail inflation remained above the Reserve Bank of India's (RBI) upper limit, easing only slightly from January's 6.52%.
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Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
![Gadgets 360 With Technical Guruji: News of the Week [August 17, 2024]](https://c.ndtvimg.com/2024-03/lmepem8s_news-of-the-week_640x480_09_March_24.jpg?downsize=245:163 "Gadgets 360 With Technical Guruji: News of the Week [August 17, 2024]")
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RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...
-
RBI Asks Non-Banks To Stick To Rs 20,000 Loan Cash Payout Limit: Report
India's central bank has asked non-bank finance companies (NBFC) to strictly adhere to a cap of 20,000 rupees ($240) in cash loans, according to a letter seen by Reuters and two people aware of the development, in a bid to deter cash transactions.
-
Paytm Payments Bank CEO Surinder Chawla Resigns
Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI.
-
Can You Withdraw Money From Paytm Bank Account After March 15? RBI Answers
The Reserve Bank of India (RBI) has extended the deadline for the operations of Paytm Payments Bank Limited to March 15, 2024. The central bank had previously been told to stop certain important activities by February 29.
-
Curbs On Paytm Payments Bank Services: What Happens To Your Money Now
In a major blow to Paytm Payments Bank Limited, an associate of Paytm, the RBI on Wednesday ordered the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other prepaid instruments.
-
RBI Cancels Licence Of Urban Co-op Bank In UP Over Inadequate Funds
The RBI on Thursday cancelled the licence of Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh as the lender does not have adequate capital and earning prospects.
-
Banks To Allow Premature Withdrawal On Term Deposits Of Up To 1 Crore: RBI
The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to Rs 1 crore, raising the limit from Rs 15 lakh currently.
-
RBI Cancels License Of Nashik Zilla Girna Sahakari Bank
Reserve Bank on Tuesday cancelled the banking licence of Nashik Zilla Girna Sahakari Bank Limited as the Nashik-based lender does not have adequate capital and earning prospects.
-
RBI Cancels License Of Mumbai-Based 'The Kapol Co-Operative Bank'
The RBI on Monday said it has cancelled the license of Mumbai-based The Kapol Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.
-
RBI Increases UPI Lite Transaction Limit to Rs. 500, Proposes AI-Powered ‘Conversational Payments’
RBI Governor Shaktikanta Das announced an increase in UPI Lite transaction limit to up to Rs. 500 in offline mode. Besides, a few other features including conversational payments and NFC support on UPI have also been proposed to make transactions more seamless. UPI Lite was first introduced in September 2022 with a transaction limit of up to Rs. 20...
-
RBI Raises Per Transaction Limit For UPI Lite To Rs 500 From Rs 200
Reserve Bank on Thursday proposed to increase the per transaction payment limit to Rs 500 for UPI Lite in offline mode and announced other measures to further deepen the reach and use of digital payments in the country.
-
No Communication From RBI On CEO Succession: Kotak Mahindra Bank
Kotak Mahindra Bank's current CEO Uday Kotak's term ends in December this year, and as per RBI's new rules on limiting the tenures of CEOs, he cannot continue in the office.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
India Expected To Continue Hiking Rates, Despite Global Rethink: Analysts
India's headline and core inflation has been unrelenting, with data post market close on Monday showing annual retail inflation remained above the Reserve Bank of India's (RBI) upper limit, easing only slightly from January's 6.52%.
-
Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
