No MDR charges are applicable on transactions through RuPay and UPI platforms since January 1, 2020. This was to promote digital payments, Finance Minister Nirmala Sitharaman said. The Department of Revenue (DoR) has notified RuPay and UPI as the prescribed mode of payment for digital transactions without any Merchant Discount Rate (MDR). Accordingly, all companies […]
Mumbai :The Reserve Bank said it has imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms, and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations, says a PTI report (March 5). RBI said it had carried out a statutory inspection of private […]
NEW DELHI: The central bank will soon issue 200-rupee note the Finance Ministry has confirmed today. The move will help fill the vast demand for cash after the notes ban, which wiped out over 85 per cent of the cash in circulation. The Finance Ministry, in a notification, said that on the recommendations of the […]
Seema Kumari asks whether the banks are out to rob the poor and profit the rich. Bihar is one of the poorest states in India. There are many people who earn less than Rs 3000 per month. They live from hand to mouth. Some of them even don’t get two square meals in a day. […]
New Delhi, Mar 9 (PTI) In yet another case in a month, an automated teller machine in south Delhi’s Amar colony area dispensed a fake Rs 2,000 currency note with “Children Bank of India” printed on it, police said today. The fake bank note of Rs 2,000 denomination was dispensed from a private bank ATM […]
New Delhi: Is it the Chief Election Commissioner versus the Governor of the Reserve bank? The EC asked the Reserve Bank to raise the cash withdrawal limit for those contesting Assembly Polls. RBI refused point blank! The Reserve Bank of India (RBI) has rejected the request of the Election Commission to enhance the weekly cash-withdrawal […]
