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WazirX Wallet Hack: Liminal Denies Responsibility Amid Recent Allegations
Liminal has refuted recent allegations by WazirX that claim that the point of breach in this wallet hack was not from its end, but because of Liminal’s screening system failure. The wallet infrastructure firm has reiterated that its platform continues to operate seamlessly and has been processing transfers and withdrawals for all of its customers...
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India, Ghana Agree To Operationalise UPI Link Within 6 Months
India and Ghana have agreed to operationalise Unified Payment Interface (UPI) with Ghana Interbank Payment and Settlement Systems within six months in order to enable instant fund transfers for users in both countries, the Commerce Ministry said.
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EPFO's New Rule That Will Come Into Effect From April 1
The Employees' Provident Fund Organisation (EPFO) has implemented an automatic transfer system for your provident fund balance
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SBI Partners With PayNow for Cross-Border Payments Through Bhim App
A day after a real-time payments system linkage was established between India and Singapore using the UPI platform, State Bank of India on Wednesday announced a partnership with PayNow, the online payment system of the city state, for cross-border payments. The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will al...
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UPI-PayNow Integration for Cross-Border Payments: 5 Points on What the System Aims to Achieve
The Reserve Bank of India on Wednesday announced the launch of the UPI-PayNow integration to allow for faster, cheaper cross-border money transfers between Singapore and India. Here are five quick points on the newly announced integration.
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India-Singapore Money Transfers Using Digital Payment System UPI Soon: Envoy
India and Singapore have completed technical preparations to link their fast payment systems UPI and PayNow to enable fund transfers between the two countries instantaneously and at low cost, a move which is aimed at benefitting migrant workers.
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RBI Seeks Public Opinion on Fees, Charges in Payments Systems: All Details
The Reserve Bank of India (RBI) is seeking public opinion on fees and charges on payment systems including Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system, Unified Payments Interface (UPI), and debit and credit cards. The central bank wants to make such transactions afford...
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Government Brings 96% Post Offices Under Core Banking System
Around 96 per cent of post offices have been brought under core banking system to implement the "Anytime-Anywhere Post Office Savings" service
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NEFT Service Will Not Be Available For 14 Hours On May 23
The National Electronic Funds Transfer (NEFT) system will not be available from 12 am to 2 pm on May 23 so as "to enhance the performance and resilience," the Reserve Bank of India said in a tweet
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RTGS Payment Facility To Start On 24X7 Basis From Monday
The RTGS system is meant for high-value transactions, on a real-time basis; the minimum amount that can be remitted through RTGS is Rs 2 lakh and there is no maximum limit
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RTGS Payment System To Be Available On 24X7 Basis Soon
RTGS, which is meant for high-value instant fund transfers, is currently available on all working days of the week except the second and fourth Saturdays, between 7.00 am to 6.00 pm
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Maharashtra Minister Blames Central System For Scholarship Transfer Delay
The Centre-controlled Personal Fund Management System (PFMS) is causing delay in direct transfer of scholarship amounts to the bank accounts of students from the Scheduled Castes in Maharashtra, Social Justice Minister Dhananjay Munde told the council on Monday.
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RBI Releases Draft Framework For New Payment System
At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.
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RBI To Provide Liquidity Facility To Make NEFT System 24x7
The Reserve Bank of India (RBI) has decided to provide an additional collateralised intra-day liquidity facility for smooth operation of National Electronic Funds Transfer (NEFT) payment system on a round-the-clock basis from December 16, the central bank said.
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RBI To Make NEFT System Available 24x7 From December 16
The facility is used to electronically transfer funds of banks which are members of this system, from one account to another. "The system will be available on all days of the year, including holidays," RBI said in a notification.
-
WazirX Wallet Hack: Liminal Denies Responsibility Amid Recent Allegations
Liminal has refuted recent allegations by WazirX that claim that the point of breach in this wallet hack was not from its end, but because of Liminal’s screening system failure. The wallet infrastructure firm has reiterated that its platform continues to operate seamlessly and has been processing transfers and withdrawals for all of its customers...
-
India, Ghana Agree To Operationalise UPI Link Within 6 Months
India and Ghana have agreed to operationalise Unified Payment Interface (UPI) with Ghana Interbank Payment and Settlement Systems within six months in order to enable instant fund transfers for users in both countries, the Commerce Ministry said.
-
EPFO's New Rule That Will Come Into Effect From April 1
The Employees' Provident Fund Organisation (EPFO) has implemented an automatic transfer system for your provident fund balance
-
SBI Partners With PayNow for Cross-Border Payments Through Bhim App
A day after a real-time payments system linkage was established between India and Singapore using the UPI platform, State Bank of India on Wednesday announced a partnership with PayNow, the online payment system of the city state, for cross-border payments. The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will al...
-
UPI-PayNow Integration for Cross-Border Payments: 5 Points on What the System Aims to Achieve
The Reserve Bank of India on Wednesday announced the launch of the UPI-PayNow integration to allow for faster, cheaper cross-border money transfers between Singapore and India. Here are five quick points on the newly announced integration.
-
India-Singapore Money Transfers Using Digital Payment System UPI Soon: Envoy
India and Singapore have completed technical preparations to link their fast payment systems UPI and PayNow to enable fund transfers between the two countries instantaneously and at low cost, a move which is aimed at benefitting migrant workers.
-
RBI Seeks Public Opinion on Fees, Charges in Payments Systems: All Details
The Reserve Bank of India (RBI) is seeking public opinion on fees and charges on payment systems including Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system, Unified Payments Interface (UPI), and debit and credit cards. The central bank wants to make such transactions afford...
-
Government Brings 96% Post Offices Under Core Banking System
Around 96 per cent of post offices have been brought under core banking system to implement the "Anytime-Anywhere Post Office Savings" service
-
NEFT Service Will Not Be Available For 14 Hours On May 23
The National Electronic Funds Transfer (NEFT) system will not be available from 12 am to 2 pm on May 23 so as "to enhance the performance and resilience," the Reserve Bank of India said in a tweet
-
RTGS Payment Facility To Start On 24X7 Basis From Monday
The RTGS system is meant for high-value transactions, on a real-time basis; the minimum amount that can be remitted through RTGS is Rs 2 lakh and there is no maximum limit
-
RTGS Payment System To Be Available On 24X7 Basis Soon
RTGS, which is meant for high-value instant fund transfers, is currently available on all working days of the week except the second and fourth Saturdays, between 7.00 am to 6.00 pm
-
Maharashtra Minister Blames Central System For Scholarship Transfer Delay
The Centre-controlled Personal Fund Management System (PFMS) is causing delay in direct transfer of scholarship amounts to the bank accounts of students from the Scheduled Castes in Maharashtra, Social Justice Minister Dhananjay Munde told the council on Monday.
-
RBI Releases Draft Framework For New Payment System
At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.
-
RBI To Provide Liquidity Facility To Make NEFT System 24x7
The Reserve Bank of India (RBI) has decided to provide an additional collateralised intra-day liquidity facility for smooth operation of National Electronic Funds Transfer (NEFT) payment system on a round-the-clock basis from December 16, the central bank said.
-
RBI To Make NEFT System Available 24x7 From December 16
The facility is used to electronically transfer funds of banks which are members of this system, from one account to another. "The system will be available on all days of the year, including holidays," RBI said in a notification.
