Reserve Bank of India - News, Articles & Research

RBI bars Kotak Mahindra from digitally onboarding new customers

The Reserve Bank of India has ordered Kotak Mahindra Bank to stop onboarding new customers via digital channels and to pause issuing new credit cards because of failures with the lender's IT systems.

12 hours

Company announcement/regulation

PayU gets RBI approval to operate as payment aggregator

PayU, one of India’s leading digital financial services providers, today announced that it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA) under the Payment Settlements Act, 2007. With this approval, PayU can start onboarding new merchants on its platform.

23 April 2024

News/payments

India tests offline and programmable CBDC

India is moving ahead with the next stage of its digital rupee pilot, adding programmability and offline payment capability.

12 February 2024

News/regulation

Paytm shares plummet on RBI curbs

Indian payments giant Paytm has seen its shares price drop 20% for the second day running - knocking around $2 billion off its market value - after its banking business was hit with strict curbs by the RBI.

02 February 2024

News/regulation

RBI effectively kills off Paytm Payments Bank with fresh curbs

India's central bank has imposed stringet new curbs on Paytm Payments Bank following a critical compliance review by external auditors.

31 January 2024

News/regulation

Paytm Payments Bank fined over KYC lapses

The Reserve Bank of India has fined Paytm Payments Bank about $650,000 for know your customer failings.

13 October 2023

Company announcement/startups

BIS and Reserve Bank of India announce winners of G20 TechSprint 2023

The Bank for International Settlements (BIS) and the Reserve Bank of India (RBI) today announced the winners of the G20 TechSprint 2023 challenge during an award ceremony in Mumbai.

04 September 2023

News/crypto

YES Bank eRupee app gets UPI interoperability

YES Bank has gone live with Unified Payments Interface (UPI) interoperability on the Reserve Bank of India's CBDC app.

04 September 2023

News/retail

India central bank to launch credit tech platform

The Reserve Bank of India (RBI) is planning to develop a public technology platform for credit transactions.

21 August 2023

News/payments

India to add AI-powered conversational payments to UPI

The Reserve Bank of India has set out plans for a host of new fintech developments, including AI-powered "conversational" payments on the country's UPI system and a public digital platform for the provision of frictionless credit.

11 August 2023

Company announcement/payments

RBI and BIS open applications for cross-border payments TechSprint

The RBI and the BIS today jointly launched the fourth edition of the G20 TechSprint Initiative, a global technology competition to promote innovative solutions aimed at improving cross-border payments, under India's G20 presidency.

10 May 2023

Company announcement/crypto

Central banks of UAE and Indian to collaborate on interoperable CBDCs

Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) signed today a Memorandum of Understanding (MoU) in Abu Dhabi, United Arab Emirates to enhance cooperation and jointly enable innovation in financial products and services.

15 March 2023

News/regulation

RBI fines Amazon Pay over KYC non-compliance

India's central bank has fined Amazon Pay around $375,000 for non-compliance with pre-paid payment instruments and KYC rules.

03 March 2023

Company announcement/payments

Singapore and India link real-time payment systems

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) today launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will enable customers of participating financial institutions in Singapore and India to send and receive funds between bank accounts or e-wallets across the two countries in real-time.

21 February 2023

News/inclusion

India begins digital rupee pilot

The Reserve Bank of India has begun a wholesale digital rupee pilot, with a retail trial set to follow within weeks.

01 November 2022

News/crypto

India preps digital rupee pilot

The Reserve Bank of India is preparing to launch a limited pilot testing a digital rupee for specific use cases.

10 October 2022

News/regulation

India lifts ban on AmEx issuing new cards

The Reserve Bank of India has lifted a ban on American Express onboarding new card customers in the country after assessing that the US firm is now complying with data storage rules.

24 August 2022

News/regulation