Paytm Payments Bank, a part of the Paytm company, has faced regulatory action from the Reserve Bank of India (RBI) due to non-compliance with regulations.  The RBI initially ordered the bank to stop accepting new deposits by February 29, which was later extended to March 15.  Paytm has shifted its nodal account to Axis Bank ...

Paytm, a popular digital payment platform in India, has been facing significant challenges recently. The Reserve Bank of India (RBI) has banned Paytm Payments Bank from opening new customer accounts due to regulatory violations.  Paytm Payments Bank is a subsidiary of Paytm. This has caused a loss of approximately Rs 26,000 crore in the company’s ...

The Reserve Bank of India (RBI) recently placed significant restrictions on Paytm Payments Bank.  The central bank’s directive stops the bank from accepting deposits or adding money to customer accounts, wallets, FASTags, and other Paytm instruments after February 29, 2024.  This action is due to persistent issues with the bank’s operations and failures to comply ...

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting is holding today on December 8, 2023. This meeting gives us an insight into the RBI’s plans for managing our economy, especially regarding inflation and growth. The MPC, led by RBI Governor Shaktikanta Das, decided to keep the repo rate unchanged at 6.5%. This ...

Instamojo, a fintech startup supported by Mastercard, recently had to shut down its core payments business. This happened because the Reserve Bank of India (RBI) did not approve their application to work as a licensed payments aggregator.  The decision of the Reserve Bank of India was made towards the end of September 2023, and it ...

You may consider this 50-year bond investment for generations. Check the benefits of 50-Year bonds in simple terms, backed by the central government. The Indian government will sell 50-year bonds for the first time, catering to the growing demand from insurance and pension funds. As per the Reserve Bank of India (RBI), in a borrowing ...

RBI rejects possibility of loan: On Wednesday, Reserve Bank of India told Supreme Court that extension of loan moratorium was not possible and would lead to downfall in nation’s economic growth. RBI submitted its statement in response to the plea filed in the apex court by various industry bodies including Association of Power Producers, Confederation ...

The Reserve Bank Of India’s (RBI) liquidity offer has given some level of solace the debt market, which is feeling tremendous recovery pressure, particularly in credit risk investments. On Monday, the RBI announced a Rs 50,000 crores Special Liquidity Facility Scheme. Since the lockdown announcement from the end of March, mutual fund investors bared a ...

Indian government, which earlier this week announced a 21 day lockdown, is contemplating over resolving issues pertaining to the country’s dwindling economic health and other challenges which emerged amid the shutdown. The finance ministry has urged Reserve Bank of India to aid people with certain relief measure stuck in their homes due to outbreak of ...

Amid the national lockdown, declared to curtain the spread of corona virus, Indian banks suggested their customers to opt for mobile or internet banking over cash. The shutdown has resulted in lesser staff. The move helps in preventing the unnecessary crowding of branches. The banks are offering digital schemes in the wake of pandemic to ...