RBI Imposes Monetary Penalties on Co-operative Banks The Reserve Bank of India (RBI) has recently taken a decisive step by imposing monetary penalties on several co-operative banks across the country. This move comes as part of the RBI’s ongoing efforts to enforce regulatory compliance and maintain the stability of the banking sector. Background of the…
RBI Grants Payment Aggregator Licences to Innoviti Payments and Concerto Software The Reserve Bank of India (RBI) recently granted payment aggregator licenses to Innoviti Payments and Concerto Software. This move marks a significant development in the fintech sector, providing new opportunities for payment processing companies in India. Innoviti Payments and Concerto Software have secured payment…
RBI Releases Draft Norms for Fintech Self-Regulatory Organisations The Reserve Bank of India (RBI) has taken a significant stride towards fostering a robust fintech ecosystem by releasing draft norms for the establishment of self-regulatory organizations (SROs) in the fintech sector. This move aims to streamline and regulate the burgeoning fintech industry, providing a framework for…
RBI Raises UPI Limit for Healthcare and Education to Rs 5 Lakh The Reserve Bank of India (RBI) has recently announced a significant elevation in the transaction limit for the Unified Payments Interface (UPI) in specific sectors, particularly healthcare and education. This change entails a surge in the maximum transaction limit from the previous cap…
RBI Cancels License of The Kapol Co-operative Bank Over Inadequate Capital In recent news, the Reserve Bank of India (RBI) has taken a significant step by canceling the license of The Kapol Co-operative Bank. This move comes in response to concerns regarding the bank’s inadequate capital reserves. Let’s delve deeper into why this news is…
