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RuPay Credit Card UPI Usage: No Charge for Transactions Up to Rs. 2,000, NPCI Says
RuPay credit card Unified Payments Interface (UPI) transactions under Rs. 2,000 will not be charged, as per RBI directions. According to a circular from the National Payments Corporation of India, nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000. The NPCI's decision is aimed...
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Cryptocurrencies a ‘Clear Danger’, Warns RBI Governor Amid Global Crypto Uncertainty
RBI Governor Shaktikanta Das described cryptocurrencies as a ‘clear danger’ on Thursday. Warning about the risks of cryptocurrencies yet again, the central bank governor stated that “anything that derives value based on make believe”, without any underlying value, is simply “speculation under a sophisticated name”. The RBI’s warning c...
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Income Tax on Cryptocurrency Gains: What Do the Rules Say?
Cryptocurrency trading gains lie in a gray area as per the Indian taxation laws. Find out if you have to declare and pay income tax on your cryptocurrency investment gains.
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Cryptocurrency Trading: RBI Asks Banks Not to Refer to Is 2018 Circular on Digital Coins
RBI on Monday asked banks, NBFCs, and payment system providers not to refer to its earlier virtual currencies-related circular, that was issued in April 2018 and later aside by the Supreme Court, in their communications to customers.
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Don't Quote Old Circular To Warn Customers On Crypto: RBI To Banks
The Reserve Bank of India (RBI) has asked banks, NBFCs and payment system providers not to refer to its earlier virtual currencies-related circular, that was issued in April 2018 and later aside by the Supreme Court, in their communications to custom
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Supreme Court Quashes RBI Ban on Cryptocurrency Banking
Supreme Court overturned on Wednesday a central bank ban forbidding lenders to facilitate banking transactions for cryptocurrency exchanges and traders, removing a major hurdle for the development of the sector.
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As RBI Deadline On Financial Data Storage Nears, US Firms Approach Trump
The Reserve Bank of India or RBI, in a circular in April, said all system providers will have to ensure that the entire data relating to payment systems operated by them are stored in a system only in India. It gave time till October 15 to comply with the mandate.
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RBI Ban On Crypto-Currencies Banking Services Challenged In Delhi Court
The Delhi High Court has sought the response of the Centre, the RBI and the GST Council on a plea challenging a circular which prohibits banks and financial institutions from providing any service in relation to virtual currencies such as 'crypto-currencies'.
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2016 RBI Note Had Warned Banks About Tech Misused In Nirav Modi Fraud
Long before the Punjab National Bank (PNB) scam erupted, the Reserve Bank of India had cautioned banks about the abuse of the SWIFT interbank network, for "unauthorised transfer of funds". A circular put out by the central bank in August 2016 has emerged just after the government called the PNB fraud a result of "supervisory failure" at the central...
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RBI Tells Banks To Accept Rs 1, Rs 2, Rs 5 Coins In Polythene Sachets Of 100 Each
RBI says accepting coins packed in polythene sachets of 100 each would be more convenient for the cashiers as well as the customers. Such polythene sachets may be kept at the counters and made available to the customers.
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Uber India Silent on RBI's Circular Mandating 2-Step Payment Verification
Uber India is not reacting yet to Reserve Bank of India's circular mandating two-step verification of all credit card transactions in the country.
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RuPay Credit Card UPI Usage: No Charge for Transactions Up to Rs. 2,000, NPCI Says
RuPay credit card Unified Payments Interface (UPI) transactions under Rs. 2,000 will not be charged, as per RBI directions. According to a circular from the National Payments Corporation of India, nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000. The NPCI's decision is aimed...
-
Cryptocurrencies a ‘Clear Danger’, Warns RBI Governor Amid Global Crypto Uncertainty
RBI Governor Shaktikanta Das described cryptocurrencies as a ‘clear danger’ on Thursday. Warning about the risks of cryptocurrencies yet again, the central bank governor stated that “anything that derives value based on make believe”, without any underlying value, is simply “speculation under a sophisticated name”. The RBI’s warning c...
-
Income Tax on Cryptocurrency Gains: What Do the Rules Say?
Cryptocurrency trading gains lie in a gray area as per the Indian taxation laws. Find out if you have to declare and pay income tax on your cryptocurrency investment gains.
-
Cryptocurrency Trading: RBI Asks Banks Not to Refer to Is 2018 Circular on Digital Coins
RBI on Monday asked banks, NBFCs, and payment system providers not to refer to its earlier virtual currencies-related circular, that was issued in April 2018 and later aside by the Supreme Court, in their communications to customers.
-
Don't Quote Old Circular To Warn Customers On Crypto: RBI To Banks
The Reserve Bank of India (RBI) has asked banks, NBFCs and payment system providers not to refer to its earlier virtual currencies-related circular, that was issued in April 2018 and later aside by the Supreme Court, in their communications to custom
-
Supreme Court Quashes RBI Ban on Cryptocurrency Banking
Supreme Court overturned on Wednesday a central bank ban forbidding lenders to facilitate banking transactions for cryptocurrency exchanges and traders, removing a major hurdle for the development of the sector.
-
As RBI Deadline On Financial Data Storage Nears, US Firms Approach Trump
The Reserve Bank of India or RBI, in a circular in April, said all system providers will have to ensure that the entire data relating to payment systems operated by them are stored in a system only in India. It gave time till October 15 to comply with the mandate.
-
RBI Ban On Crypto-Currencies Banking Services Challenged In Delhi Court
The Delhi High Court has sought the response of the Centre, the RBI and the GST Council on a plea challenging a circular which prohibits banks and financial institutions from providing any service in relation to virtual currencies such as 'crypto-currencies'.
-
2016 RBI Note Had Warned Banks About Tech Misused In Nirav Modi Fraud
Long before the Punjab National Bank (PNB) scam erupted, the Reserve Bank of India had cautioned banks about the abuse of the SWIFT interbank network, for "unauthorised transfer of funds". A circular put out by the central bank in August 2016 has emerged just after the government called the PNB fraud a result of "supervisory failure" at the central...
-
RBI Tells Banks To Accept Rs 1, Rs 2, Rs 5 Coins In Polythene Sachets Of 100 Each
RBI says accepting coins packed in polythene sachets of 100 each would be more convenient for the cashiers as well as the customers. Such polythene sachets may be kept at the counters and made available to the customers.
-
Uber India Silent on RBI's Circular Mandating 2-Step Payment Verification
Uber India is not reacting yet to Reserve Bank of India's circular mandating two-step verification of all credit card transactions in the country.
