Banks in discussions with Open Network for Digital Commerce to set up buyer platforms to let customers place orders for goods and services; govt-driven open solution aims to break dominance of e-commerce firms like Amazon and Flipkart.
RBI explores introduction of policy framework for digital banking, fintech and BigTech this fiscal as involvement of large technology companies in financial sector brings in systemic risks.
Union Bank of India will invest Rs 1,000 crore to upgrade its information technology platforms this fiscal as it seeks to ensure that at least 50% of its business originates via the digital route by FY2025.
The festival, which is on till April 13, has tech firms deliberating on how to bridge the technology gaps in public sector banks.
Paytm Payments Bank, which was banned last week by RBI from onboarding new customers, has denied media report accusing it of leaking data to Chinese firms.
RBI lifts restrictions imposed on HDFC Bank which had prevented the lender from launching any new initiatives planned under its Digital 2.0 programme.
Only Yono is envisaged as the next generation of Yono; this will make State Bank of India ready to launch a complete digital bank.
Reserve Bank of India has directed Paytm Payments Bank to stop taking on new customers with immediate effect, citing ‘material supervisory concerns’ observed in the bank.
State Bank of India has appointed former Nitin Chugh as deputy managing director and head of digital banking.
RBI’s cancellation is on account of supervisory concerns; PC Financial Services engaged in mobile app-based lending ops through app 'Cashbean'.
The introduction of digital rupee will be a monumental step in driving the next phase of growth in the digitisation of financial services and payments in India, said Paytm CEO Vijay Shekhar Sharma.
Airtel Payments Bank can now pitch for government-issued RFPs, primary auctions and undertake both central and state government business.
Fino Payments Bank has received approval from RBI to commence international remittance business under the Money Transfer Service Scheme.
Punjab National Bank has come up with the facility of online life certificate submission for central and state government pensioners.
RBI slaps fine of Rs 1 cr each as the two payment system operators had not complied with directions issued by it on net worth requirement for Bharat Bill Payment Operating Units.
