RBI

Banking

Razorpay Gets Payment Aggregator Licence From RBI

Priyanka Tanwer Jul 12 2022 - 3 min read

Razorpay, India’s preferred payments and banking platform for businesses has announced that it is one of the first full-stack financial solutions companies that has been given an in-principle approval by the ?RBI for a Payment Aggregator (PA) License. This reiterates the trust placed by over eight million businesses in Razorpay to boost and support their ...

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Small Business

Registration on GeM will Enable MSMEs to Receive Bulk Orders

Opportunity India Desk Jul 08 2022 - 3 min read

A conference titled ‘Ease of Doing Business – Institutional Support to MSMEs’ has been organised, by the MSME Committee of the PHD Chamber of Commerce and Industry, at PHD House, New Delhi. Union Minister of MSME (Minister of State), Bhanu Pratap Singh Verma was invited as the chief guest in the event. While addressing the ...

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Banking

RBI Slaps Hefty Penalty On Kotak Bank, IndusInd Bank And Others

Priyanka Tanwer Jul 05 2022 - 3 min read

The Reserve Bank of India (RBI) has imposed monetary penalties on Kotak Mahindra Bank and IndusInd Bank for failing to comply with various regulations. The Central bank has fined INR 1.5 crore on Kotak Mahindra Bank Limited for non-compliance with directions on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, and ...

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New India

RBI Proposes Norms For Outsourcing Of IT Services

Priyanka Tanwer Jun 24 2022 - 3 min read

The Reserve Bank of India has proposed norms for the outsourcing of IT services to ring-fence banks and other regulated entities from financial, operational and reputational risks. According to the RBI Draft Master Direction on Outsourcing of Information Technology (IT) Services, Regulated entities will not require prior approval from the central bank for the outsourcing ...

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New India

RBI Hikes Limit For Real Estate Loans By Co-Op Banks

Opportunity India Desk Jun 09 2022 - 6 min read

The Reserve Bank of India on June 8 doubled the amount of loans that urban cooperative banks (UCBs) can issue for housing. The revision is done in order to factor in the rise in house prices. It has also been decided to permit UCBs to extend doorstep banking services to their customers. This will enable ...

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