In India, digital payments have climbed more than five times since 2015 to 22.4 transactions per person in the year ended March, Reserve Bank of India figures show.
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The Reserve Bank of India (RBI) has asked commercial banks not to treat ATM transactions failing for technical reasons as well as non-cash withdrawal transactions - such as balance enquiries or cheque book requests - as part of the free transactions available to customers every month. Currently, transactions failed due to technical reasons or non-a...
Banks such as State Bank of India (SBI), HDFC and ICICI Bank charge a penalty from the customers failing to maintain the required monthly average balance in their savings accounts.
Since February, the Reserve Bank of India has cut the key policy rate by 110 basis points, which has pushed bond yields down significantly.
Major commercial banks such as public sector lender State Bank of India (SBI) and its private sector peer HDFC Bank offer zero balance accounts such as BSBD accounts.
As per data compiled by the Reserve Bank of India (RBI), the outstanding credit of Public Sector Banks (PSBs) to the MSME sector increased from Rs 8.20 lakh crore in March 2016 to Rs 8.81 lakh crore in March 2019 (provisional).
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