Rbi

The RBI also revealed that India's net Foreign Direct Investment (FDI) inflow during April-December 2023 was notably lower at $8.5 billion compared to $21.6 billion in the same period of the previous year.

Rajan cautioned against embracing exaggerated narratives of India's economic prowess prematurely. He highlighted the necessity for sustained efforts to bridge the gap between rhetoric and reality, emphasizing the imperative for India to focus on substantive progress rather than superficial acclaim.

NHAI has advised Paytm FASTag users to obtain a new FASTag issued by another bank before March 15, 2024, to prevent penalties or double fee charges at toll plazas. This action aligns with RBI guidelines restricting transactions through Paytm Payments Bank after the specified date.

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to establish a framework promoting the use of local currencies, the Indian Rupee (INR) and the Indonesian Rupiah (IDR), for cross-border transactions

The Reserve Bank of India has instructed credit card issuers to refrain from entering into agreements that limit customers' access to services provided by other card networks. This directive aims to enhance consumer choice and competition in the credit card industry

The total value of Rs 2000 banknotes in circulation, standing at Rs 3.56 lakh crore during the withdrawal in May last year, has substantially decreased to Rs 8,470 crore as of February 29, 2024. This reflects a notable decline in the prevalence of the high-denomination notes within the monetary system.

Due to persistent non-compliances and ongoing material supervisory concerns within the bank, the Reserve Bank has prohibited PPBL from accepting deposits and credits from any customer after March 15th.

The RBI's statement highlights that if NPCI grants TPAP status to OCL, the '@paytm' handles should seamlessly migrate from Paytm Payments Bank to newly identified banks to prevent disruptions.

Effective from March 15, Paytm Payments Bank will no longer allow further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc., as per the RBI directive.

The Reserve Bank of India (RBI) has released a comprehensive list of Frequently Asked Questions (FAQs) to address concerns and facilitate a seamless transition for users of Paytm Payments Bank

The FIU has submitted a detailed report to the RBI, highlighting concerns of potential money laundering and seeking additional information to enhance the understanding of the situation.

Paytm faces market turmoil as its shares plummet amidst regulatory scrutiny, potential license revocation, and a significant loss in market value, prompting caution among investors and eroding customer and partner trust.

The Enforcement Directorate on Wednesday initiated a probe into charges against Paytm Payments Bank, according to a NDTV report quoting sources.

Paytm assures users and merchants of uninterrupted services despite RBI order, emphasizing seamless transitions and customer support.

In a strategic move, India has introduced its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, expanding the cross-border reach of digital payments. The announcement was made by the Ministry of External Affairs on February 12, marking a significant development in India's financial connectivity with its neighboring countries.