Startups can apply to public sector banks for loans, compare offers and track their applications using the Jan Samarth portal.
Initiatives to help SBI to re-architect its core systems for greater agility and scale; bank also deploying agentic AI through fintech partner to verify trade finance documents.
RBI imposes fine of Rs 29.6 lakh on Fino Payments Bank for not following certain rules related to the licensing of payments banks.
Registrations for 'bank.in', the exclusive internet domain for Indian banks, will commence from April 2025; 'fin.in' for financial institutions will come up later.
RBI's new directive will promote interoperability between mobile wallets and UPI ecosystem.
IDFC First Bank has become the first Indian lender to offer a real-time tracking service, in association with Swift, for money sent abroad.
Transactions on UPI surged 52% YoY in terms of volume to 78.97 billion and 40% in terms of value to Rs 116.63 trillion in the first six months of 2024.
Prosus-backed PayU Payments has got RBI's in-principle approval to operate as payment aggregator and restart onboarding new merchants.
The move will allow continuity of Paytm app and devices like Paytm QR, Soundbox and Card Machine to work after new 15 March deadline set by RBI.
RBI gives 15-day extension to Paytm Payments Bank for stopping deposit transactions; earlier deadline was 29 February.
Here is a detailed list of FAQs RBI has issued to address questions around withdrawal, refund, salary credit, direct benefit transfers, electricity bill payment, EMIs, Paytm FASTag and money transfer through UPI.
Ruling out any review of central bank’s action against Paytm Payments Bank, RBI Governor Shaktikanta Das says decision was taken after comprehensive assessment of functioning of lender.
Paytm Payments Bank’s persistent non-compliance of the regulator’s norms prompted RBI to act; action was taken keeping in mind the gravity of the violation.
HDFC Bank is “talking” to its longstanding partner Paytm as the fintech tries to find a way out of the current restrictions placed by RBI
Paytm is in exploratory talks to sell wallets business; Jio Financial Services and HDFC Bank are leading contenders.
