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RBI Notification

Reserve Bank allows lenders to raise ATM interchange fe...

ATM interchange fee

The Reserve Bank of India recently raised the ATM interchange fee that banks can charge on ATM transactions to 17 rupees per transaction. Earlier this fee...

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RBI Notification

RBI guidelines for Amalgamation of District Central Co-...

RBI guidelines for Amalgamation of District Central Co-operative Banks with State Co-operative Bank

The Reserve Bank released a notification on May 24, 2021, stating that it would consider amalgamation of District Central Co-operative banks with the state...

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RBI Notification

Interoperability of PPIs: RBI mandates pre-paid cards,...

Interoperability of PPIs: RBI mandates pre-paid cards, wallets to be made interoperable

The Reserve Bank of India mandated all prepaid payment instruments or wallets that are KYC compliant to be made interoperable by March 2022. The Reserve ba...

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RBI Notification

Guidelines laid down by RBI for Appointment of Statutor...

RBI issues guidelines for Appointment of Statutory Auditors of Banks, NBFCs

The Reserve Bank recently issued guidelines for the appointment of statutory auditors of banks and NBFCs. The guidelines for appointment of statutory centr...

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RBI Notification

RBI doubles deposit limit of Payments Bank

Limit of Payments bank

The Reserve bank vide notification released on April 8, 2021, enhanced the maximum end-of-day balance for payments banks to 2 lakh rupees. This limit was 1...

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RBI Notification

RBI tightens investment norms in NBFC from FATF non-com...

FATF non-compliant jurisdictions

Recently the Reserve Bank of India came out with a notification to impose restrictions on investments in Non-Banking Financial Companies by investors from...

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RBI Notification

RBI Extends Timeline for Processing of Recurring Online...

Recurring Online Transactions

In a major announcement, the Reserve Bank of India extended the timeline for processing of recurring transactions by six months to 30th September 2021. Wit...

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RBI Notification

Extension of timeline for non-bank Payment Aggregators:...

Extension of timeline for non-bank Payment Aggregators

The Reserve Bank of India recently extended the deadline for the implementation of new rules for payment gateways and for online merchants. RBI stated that...

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