Central banks of UAE and India partner for cross-border CBDC testing
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
The central bank claims Amazon Pay India didn’t comply with “certain provisions” of KYC and PPI directions.
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
The government hopes its plan will facilitate the development of “a robust digital payment ecosystem”.
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The use case of this pilot is the “settlement of secondary market transactions in government securities”, RBI says.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The RBI says that the new rules will be applicable to both existing and new customers.
The RBI imposed restrictions on the US card issuer in May 2021, denying it the ability to onboard new customers.
The RBI believes cryptocurrencies have a “destabilising” effect on a country’s monetary and fiscal stability.
RBI had imposed a ban on Mastercard in July 2021 for non-compliance.
The finance minister announced a raft of digital economy support measures in her Union Budget 2022-23 speech.
Scheduling of bill points to government’s stance despite speculation over rethink.
New programme aims to extend financial services to millions of new customers.
India’s central bank is still being “extremely careful” about its tests.
RBI claims Mastercard Asia/Pacific has failed to comply with an earlier directive on data storage.
RBI has made an initial seed contribution of $33 million (RS 250 crore).
The technology would be for banking officials’ use only.
It says the failures lie with automated payment processes at the banks.
Axis, UCO and Syndicate Bank found to be at fault.
Nation gets ombudsman to help with users’ complaints.
Tensions with the finance ministry are rumoured to lie behind the departure.
The Reserve Bank of India (RBI) keen to harness the power of big data.
The forced exit is a result of lack of compliance.
Reserve Bank of India ushers in a new reality for virtual currencies.
With a deadline of 30 April 2018.
Reserve Bank of India (RBI), the country’s central bank and regulator, has given National Payments Corporation of India (NPCI) the go-ahead to consolidate payment of local utility and services bills.
Reserve Bank of India (RBI), the country’s central bank and regulator, has asked banks in the country to work towards implementing a system that allows users to port their account from one bank to another, without changing the account number.
The Reserve Bank of India (RBI) is telling the nation’s banks to operate their ATM networks only after the machines receive a Windows update to protect them from the WannaCry ransomware affecting systems across the globe. The computer malware has spread across 150 countries and takes over users’ files with a demand of $300 to […]
The Institute for Development and Research in Banking Technology (IDRBT), set up by the Reserve Bank of India (RBI), has recently issued a whitepaper, “Applications of Blockchain Technology to Banking and Financial Sector in India”. We summarise the report and highlight the key findings.
Rising cybercrime in India is no secret. According to a report by Symantec, India now ranks third in the world, after the US and China, as a source of malicious activity. In fact, the National Crime Records Bureau data reveals that in the three years up to 2013, registered cases of cyber crime were up 350%, from 966 to 4356. Dubious distinctions both, and give banks and the financial sector in India cause for worry.
The Reserve Bank of India (RBI) has put together an inter-regulatory working group (WG) to study the entire gamut of regulatory issues relating to fintech and digital banking in India. The move is designed to help facilitate their development and is the latest in a long list of technological advances in the country. Aside from […]
The Reserve Bank of India (RBI) plans an overhaul of the country’s ATMs to enable the processing of EMV chip and PIN cards by 2017. The RBI says while India’s POS infrastructure accepts and processes EMV chip and PIN cards, the ATM infrastructure, “on the whole”, continues to process card transactions based on data from […]
The Reserve Bank of India (RBI), the country’s central bank and regulator, has set up a scheme to provide financial assistance to urban cooperative banks (UCBs) for the implementation of core banking solutions. In its First Bi-monthly Monetary Policy Statement-2016-17, the RBI will offer assistance and technology support through the Institute for Development and Research […]