The Reserve Bank of India on Friday (July 1, 2022) released the report on Benchmarking India’s Payment Systems providing a comparative position of the payments ecosystem in India relative to other 21 major countries. The pilot exercise for benchmarking India’s payment systems was undertaken in 2019 with respect to the position in 2017. The above…
Aadhaar Enabled Payment System (AePS) is a system developed by the National Payments Corporation of India (NPCI)is operational in India since January 2011. The idea of the Government of India coming up with AePS is mainly to help the people from far-off places particularly from villages where banking services are not available. With the help…
In Supersession of earlier BBPS-related guidelines/circulars, RBI on Friday (March 1, 2024) issued the new Directions hereinafter specified. These Directions shall be applicable from April 01, 2024. The provisions of the new Directions shall apply to NPCI Bharat Bill Pay Limited (NBBL) a wholly owned subsidiary of the National Payments Corporation of India); and All…
Reserve Bank of India has relaxed norms for foreign portfolio investors, FPIs investing in corporate debt securities through the general route. In a notification, RBI announced that FPIs will no longer be required to adhere to the short-term investment and concentration limits.At present, investments by Foreign Portfolio Investors (FPIs) in corporate debt securities through the…
Brief: Home loans in India are one of the most sought-after financial products offered by banks and housing finance companies to help individuals realize their dream of owning a home. These loans are provided for various purposes including purchasing a new house, constructing a home, renovating or extending an existing property, or buying a plot…
Indian exporters can enhance their operational flexibility and access global markets more effectively by establishing or utilizing bonded warehouses both within India and overseas. Typically located near ports or airports, these warehouses streamline export procedures and enable businesses to respond swiftly to market demands. Bonded warehouses may be public (government-owned or operated) or private (owned…
Co-branded credit cards are financial products issued jointly by a bank and a partnering brand, retailer, or service provider. These cards offer benefits and rewards specifically aligned with the partner brand’s offerings, thereby aiming to foster customer loyalty and encourage repeat purchases within the brand’s ecosystem. In contrast, standard credit cards provide more generalized rewards…
A charge card is a type of payment card that allows users to make purchases with the requirement to pay off the entire balance each month. Unlike credit cards, charge cards do not typically charge interest, as there’s no option to carry a balance. They also often lack a pre-set spending limit, giving users more…
Home décor refers to the art and practice of enhancing and furnishing a residential space to improve its comfort, visual appeal, and alignment with the homeowner’s personal preferences and style. It involves the thoughtful selection of colors, textures, patterns, furniture, lighting, wall décor, and accessories, all aimed at elevating both the ambiance and functionality of…
A contactless debit card, also known as a chip card with an embedded radio frequency antenna, uses Near Field Communication (NFC) technology to enable secure transactions by simply tapping the card near a contactless reader. Instead of swiping or dipping the card, a customer can make payments by simply waving or tapping it on a…
