Reserve Bank of India

RBI omits cryptocurrency from draft framework for fintech sandbox

Payal Ganguly

The Reserve Bank of India (RBI) has left out cryptocurrency from its draft guidelines for a regulatory sandbox aimed at fostering ....

22 April, 2019

Visa, Mastercard welcome RBI’s intent on democratising retail payments

Payal Ganguly

Global payment technology giants Visa and Mastercard have said that the Reserve Bank of India’s intent to open up the retail ....

4 April, 2019
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RBI to set up innovation hub for fintech firms

Binu Paul

The Reserve Bank of India (RBI) said it will set up a fintech innovation hub, for which it is preparing soon-to-be-released guidelines. The ....

26 March, 2019

RBI installs ombudsman for digital payments

Payal Ganguly

Reserve Bank of India (RBI) has launched an ombudsman scheme for digital payments, a little less than three months after the RBI proposed ....

1 February, 2019

After ban on Aadhaar-based eKYC, mobile wallet transactions show sequential decline

Payal Ganguly

Transactions using mobile wallets declined month-on-month for November 2018, both in value and volume, following a September judgment ....

8 January, 2019

RBI reveals why it barred Paytm Payments Bank from on-boarding new customers

Vijayakumar Pitchiah

The Reserve Bank of India debarred Paytm Payments Bank from onboarding customers in August due to a few breaches including ....

21 December, 2018
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RBI to install grievance redressal scheme for digital financial transactions

Payal Ganguly

The Reserve Bank of India (RBI) has said it will install an ombudsman scheme for digital financial transactions by January 2019. ....

6 December, 2018

Two years after demonetisation: How digital transactions fared since note ban

Payal Ganguly

Two years after the government rendered high-value currency notes illegal, demonetisation has boosted digital transactions and ....

9 November, 2018

RBI lays out guidelines for transactions between different mobile wallets

Reuters

The Reserve Bank of India on Tuesday laid out guidelines that would allow for seamless payments between different mobile ....

16 October, 2018

RBI to stick with plan to force payments firms to store data locally

Reuters

The Reserve Bank of India (RBI) will implement in full its directive that forces global payment companies to store data locally ....

11 October, 2018
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WhatsApp builds system to store payments-related data locally

Reuters

Facebook Inc’s WhatsApp said on Tuesday it has built a system that stores payments-related data locally in India, in a bid ....

9 October, 2018

RBI considers launching own virtual coins to tackle cryptocurrencies, minting costs

Shweta Sharma

The Reserve Bank of India has formed an inter-departmental group to explore the workability of a rupee-backed digital currency, ....

30 August, 2018

RBI sets up unit for blockchain and AI to keep up with digital era

Shweta Sharma

Aiming to keep pace with emerging technologies, the Reserve Bank of India (RBI) has set up a new unit to research and supervise ....

27 August, 2018

Bitcoin, other cryptocurrencies may have a future in India after all

Anirban Ghoshal

Amid the recent doom and gloom, there might be a glimmer of hope for the cryptocurrency community in the country.  According ....

14 June, 2018

Bitcoin traders move SC against RBI's directive on stamping out cryptocurrencies

Anirban Ghoshal

A group of bitcoin traders has moved the Supreme Court over the Reserve Bank of India's recent directive that required banks ....

14 May, 2018

Local storage of payment data to inspire confidence, entice transactions

Bipin Preet Singh

It was just another weekday on the sixth of April when a directive by Reserve Bank of India (RBI) asking all payment companies ....

7 May, 2018

CoinRecoil moves court against RBI clampdown on cryptocurrencies

Anirban Ghoshal

The operator of cryptocurrency exchange CoinRecoil has moved the Delhi High Court against the Reserve Bank of India’s recent ....

17 April, 2018

Cryptocurrency firms weigh shifting overseas, legal options after RBI crackdown

Anirban Ghoshal

Indian cryptocurrency exchanges are considering moving their operations outside the country and other options to carry on trading ....

9 April, 2018

Banks can’t deal with bitcoin exchanges, payment firms must store data in India: RBI

Anirban Ghoshal

The Reserve Bank of India on Thursday barred banks, non-bank lenders, digital wallets and any other entities it regulates from ....

5 April, 2018

Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Arti Singh

Paytm's founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet's parent firm One97 ....

9 December, 2016

Paytm to merge wallet business with payments bank

Arti Singh

One97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming ....

5 December, 2016