Reserve Bank of India

72 results about this entity

Period: 28 Jul 2006 - 12 Feb 2024

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India and Singapore to link faster payment systems

/payments

India and Singapore to link faster payment systems

The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) have unveiled a project to link their respective fast payment systems, enabling users to make instant, low-cost fund transfers on a reciprocal basis without a need to get onboarded onto the other payment system.

India launches Account Aggregator system

/inclusion

India launches Account Aggregator system

India's big banks have taken the open banking plunge, launching an Account Aggregator (AA) data sharing system.

India and Nigeria push ahead with CBDC plans

/crypto

India and Nigeria push ahead with CBDC plans

India and Nigeria, two of the world's largest emerging economies, are ramping up their plans to launch central bank digital currencies.

Mastercard barred from onboarding customers in India for breaking data storage rules

/regulation

Mastercard barred from onboarding customers in India for breaking data storage rules

The Reserve Bank of India has told Mastercard to stop onboarding all new credit, debit and prepaid card customers in the country, accusing the firm of violating data storage rules.

RBI takes action against AmEx for breaking Indian data storage rules

/regulation

RBI takes action against AmEx for breaking Indian data storage rules

The Reserve Bank of India has banned American Express and Diners Club from onboarding new customers in the country, accusing the firms of violating data storage rules.

HDFC Bank feels RBI wrath over power outage

/regulation

HDFC Bank feels RBI wrath over power outage

The Reserve Bank of India has barred HDFC Bank from adding new credit card accounts or launching fresh digital banking products until it fixes problems that caused a 12-hour outage last month.

RBI plans offline digital payments pilot, sets up innovation hub

/inclusion

RBI plans offline digital payments pilot, sets up innovation hub

The Reserve Bank of India is prepping an offline digital payments pilot to encourage the migration from cash in rural areas that lack internet connectivity.

RBI gives $66 million shot in the arm to remote payments infrastructure

/payments

RBI gives $66 million shot in the arm to remote payments infrastructure

The Reserve Bank of India is to contribute $33 million to the creation of a Payments Infrastructure Development Fund (PIDF) with the aim of improving the digital and physical point-of-sale infrastructure in remote regions of the continent.

Indian court overturns RBI cryptocurrency bank

/crypto

Indian court overturns RBI cryptocurrency bank

India's Supreme Court has overturned a two-year old central bank ban on financial institutions facilitating services related to cryptocurrencies.

Indian central bank digital currency proposed

/crypto

Indian central bank digital currency proposed

Indian non-for-profit organisation, the National Institute for Smart Government (NISG), has proposed a digital rupee in its draft National Strategy on Blockchain.

India requires cardholders to opt in to contactless payments

India requires cardholders to opt in to contactless payments

All new cards sent out by issuers in India will not be contactless enabled or capable of online or international payments until the customer turns on these features, under new central bank rules.

RBI paves the way for remote customer onboarding

/regulation

RBI paves the way for remote customer onboarding

Indian banks and fintech startups have been given the go-ahead to use video calls to complete KYC compliance checks, following a ruling by the country's central bank.

/regulation

Reserve Bank of India publishes framework for regulatory sandbox

The Reserve Bank of India today placed on its website the final ‘Enabling Framework for Regulatory Sandbox’.

India to review payments data storage rule

India to review payments data storage rule

The Indian central bank has been persuaded to reconsider a controversial law that mandates payments data should not be allowed to leave India's borders.

RBI publishes vision for e-payments growth

The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision 2019 – 2021”.

RBI fines Indian banks over Swift compliance failures

/regulation

RBI fines Indian banks over Swift compliance failures

The Reserve Bank of India (RBI) has fined at least 19 banks, including ICICI, State Bank of India and Yes Bank, for failing to comply with rules on using the Swift network.

US payments giants struggle to meet Indian data storage deadline

/regulation

US payments giants struggle to meet Indian data storage deadline

Visa, Mastercard, American Express, PayPal and Amazon all look to have failed to meet the deadline to comply with new rules that require information about transactions in India to be stored in the country.

RBI tires of slow progress by banks in switching off XP-based ATMs

RBI tires of slow progress by banks in switching off XP-based ATMs

The Reserve Bank of India has given the nation's banks a one-year deadline to migrate ATMs away from the Microsoft XP operating system, more than five years after support for the O/S was switched off by the Redmond-based tech giant.

India's central bank issues cryptocurrency ban

India's central bank issues cryptocurrency ban

The Reserve Bank of India (RBI) has banned regulated banks and its account holders from dealing in cryptocurrencies.

RBI panel calls for regulatory shake-up to handle fintech innovation

RBI panel calls for regulatory shake-up to handle fintech innovation

A fintech working group set up by the Reserve Bank of India has called for the establishment of a regulatory sandbox and innovation hub where startups can roadtest their products ahead of commercial launch.

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