Bank card base of main issuers fell in need of RBI norms in Q2

Bank card issuers noticed a big decline of their card base in the course of the July-September quarter as Reserve Financial institution of India (RBI) laws made it necessary to deactivate playing cards which have been inactive for over a yr. The second quarter of the present monetary yr noticed a drop in excellent … Read more

RBI launches ‘Digital Rupee – Retail Section (ER)’ in 4 cities; Problem Rs 1.71 crore

AffairsCloud YouTube Channel – click on right here AffairsCloud APP click on right here On December 1, 2022, The Reserve Financial institution of India (RBI) launched its pilot on retail digital foreign money/rupee referred to as ‘Digital Rupee – Retail Section (eR)’, which is a Central Financial institution Digital Forex (CBDC), Which is an digital … Read more

Know All About Central Financial institution Digital Forex by RBI: Digital Rupee

Know All About Central Financial institution Digital Forex by RBI: Digital Rupee Because the Reserve Financial institution (RBI) has introduced the launch of the primary pilot for retail digital rupee on December 01, 2022, let’s learn about it Central Financial institution Digital Forex (CBDC). Eight banks have been recognized for phased participation on this pilot. … Read more

RBI to launch first pilot of retail digital rupee in 4 cities on December 1

The RBI says that the digital rupee for the retail section shall be within the type of a digital token representing authorized tender, which shall be issued in the identical denominations as paper forex and cash. Retail CBDC pilot to start on December 1, initially to be examined in 4 banks, 4 cities The Reserve … Read more

HDFC Financial institution: Turning a New Chapter After RBI Restrictions (NYSE: HDB)

Naveen0301/iStock not launched by way of Getty Photos The Reserve Financial institution of India (RBI) lastly lifted the ban on the launch of HDFC Financial institution (NYSE: HDB) Digital Initiatives (15 months after these restrictions had been applied in December 2020), long run development story of the financial institution gained velocity. Whereas inflation and geopolitical … Read more

RBI to launch its retail CBDC pilot on December 1st

Editor’s Observe: With a lot volatility within the markets, keep on high of the each day information! Catch up in minutes with our fast summaries of immediately’s must-read information and professional opinion. Register Right here! (Kitco Information) – The Reserve Financial institution of India (RBI) is losing no time in its quest … Read more

RBI is getting ready to launch CBDC pilot

The Reserve Financial institution of India (RBI) has begun preparations for the rollout of a retail digital rupee pilot following the trial section of bulk use of its CBDC. Money-centric India is becoming a member of nations reminiscent of China in pushing digital variations of their currencies as they search to optimize transactions and funds … Read more

WhatsApp India chief Abhijit Bose resigns; RBI shortlists 5 banks for retail CBDC pilot

Meta India has been jolted by new top-level exits, with the tech big saying it’s going to sack round 11,000 staff worldwide. WhatsApp India chief Abhijit Bose and Fb’s director of public coverage Rajeev Agarwal have left the corporate. Earlier this month, Meta’s vice chairman in India left the agency to hitch rival Snapchat. Credit: … Read more

Municipalities rely extra on property tax to finance actions: RBI

Municipalities in India over-dependent on property tax, says RBI The Reserve Financial institution of India (RBI) stated property tax reforms and the event of a vibrant municipal bond market may increase the funds of native our bodies in India. Property tax accounts for nearly half of the overall tax assortment of municipal firms, the central … Read more

Digital Rupee Pilot Launched by RBI on November 1: Key Info

India is launching the digital rupee on November 1 Pilot base and focusing on solely the wholesale section (e₹-W), Reserve Financial institution of India (RBI) has 9 Banks Recognized for Pilot Launch – State Financial institution of India, Financial institution of Baroda, Union Financial institution of India, HDFC Financial institution, ICICI Financial institution, Kotak Mahindra … Read more