The Reserve Bank of India (RBI) has replied to rumours concerning the Rs 500 note and stated whether the Rs 500 note with the star in the middle of the serial number is real or counterfeit. In this case, what does the star mean? Regarding the Rs. 500 note, there was a rumour on social … Read more
The Reserve Bank of India (RBI) has introduced a significant change in the regulations governing credit card users, aimed at enhancing consumer protection. Credit information companies such as CIBIL and Experian are facing tighter rules, and credit card users will benefit from these measures. Daily Compensation for Unresolved Complaints RBI has issued an order specifying … Read more
The Reserve Bank of India (RBI) launched its centralised platform, Unclaimed balances – Gateway to Access inforMation or UDGAM, on August 17, promising help to those with unclaimed bank balances. People may trace all of their unclaimed deposits from various banks using the service. At its monetary policy meeting on April 6, 2023, the RBI … Read more
A private industry survey released on Tuesday revealed that India’s manufacturing activity growth slowed for the second month in a row in July, with modest reduction in output and new orders, albeit the pace of increase remained solid. S&P Global’s Manufacturing Purchasing Managers’ Index (PMI) fell to 57.7 in July from 57.8 in June, but … Read more
In a recent development, the Reserve Bank of India (RBI) has cancelled the registration of four non-banking finance companies (NBFCs) and witnessed the surrender of licenses by 11 other entities. This decision highlights the RBI’s commitment to maintaining a robust and compliant financial system. The cancellation of NBFC licenses includes Nanma Chits and Financiers Ltd, … Read more
In a significant step towards resolving the issue of unclaimed deposits, the Reserve Bank of India (RBI) unveiled its ambitious ‘100 Days 100 Pays’ campaign on Thursday. The initiative aims to expedite the tracing and settlement of the top 100 unclaimed deposits from every bank in every district within a span of 100 days. This … Read more
Mumbai: India’s central bank chief today warned that the next financial crisis will come from private cryptocurrencies adding that he still holds the view that cryptocurrencies should be prohibited. READ | RBI issued new guidelines regarding UPI transactions, check here guideline Reserve Bank of India governor Shaktikanta Das also added that cryptocurrencies have no underlying … Read more
According to the recent decision taken by the Reserve Bank of India (RBI), there will be no fee on UPI for transactions up to Rs 2,000 on the use of Rupay Credit Card. Instructions have been given in this regard in the recently issued circular by RBI. Let us tell you that the order of … Read more
Reserve Bank of India changed the rules related to bank lockers in 2021 which are effective since January 2022. The primary objective of these bank locker rules was to protect expensive assets from theft and burglaries. With trembling economic inequality, jewelry and cash thefts are still prevalent in many parts of India. After Supreme Court’s … Read more