RBI urges card holders to tokenise their cards, extends deadline for storing of CoF data by three months
The Reserve Bank of India (RBI) on Friday extended the deadline for card-on-file (CoF) tokenisation by another three months to September 30 as transaction processing based on such tokens is yet to gain traction across categories of merchants. “…it has been decided to extend the timeline for storing of CoF data by three months, i.e.,…
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RBI Governor Dump downs proposal on setting up Neo bank or Digital Bank
“There is no proposal on neo-banks or digital banks because we feel that the existing banks and NBFCs can adopt more and more technology for delivery of banking services.” said Shaktikanta Das while delivering a speech at the Financial Express Modern BFSI Summit in Mumbai on June 17, 2022.”The theme of my address “Disruptions &…
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ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC’s initial public offering
The Reserve Bank of India on Wednesday requested all ASBA designated branches of banks to remain open for the public on May 8, 2022 (Sunday) to facilitate the processing of applications for LIC IPO “The Government of India, in order to facilitate bidding for LIC IPO, has requested that all bank branches designated to process…
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How to protect your bank balance from on-line fraudsters?
There has been a surge in the usage of digital modes of payments in recent years. As the speed and ease of doing financial transactions have improved, the number of frauds in retail financial transactions has gone up. The general public is defrauded by a fraudster using various innovative methods. Unscrupulous elements are defrauding and…
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New norms for issue of debit cards by Banks
The Reserve Bank of India has issued master directions for credit and debit card issuance in the year 2022. These fresh guidelines will come into effect from July 1, 2022. The guidelines apply to banks excluding payment banks, state co-operative banks, and district central co-operative banks. Also, all NBFCs operating in India should follow the…
RBI issues new norms for issuance of Credit Cards and Debit cards
The Reserve Bank of India has issued master directions for credit and debit card issuance in the year 2022. These fresh guidelines will come into effect from July 1, 2022. The guidelines apply to banks excluding payment banks, state co-operative banks, and district central co-operative banks. Also, all NBFCs operating in India should follow the…
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