UPI is an interoperable instant fund transfer technology created by NPCI that enables interbank fund transfer. There are currently 140 member banks using the UPI rails to enable payments for customers across the banking sector. The NPCI is RBI's payment governance arm and is owned by a consortium of top Indian banks.
‘Tap to Phone’ will allow merchants to process payments made through contactless cards directly on their smartphones.
Benchmark bond yield gained five basis points to close at 6.76 per cent on Wednesday.
With the headwinds unlikely to dissipate soon, non- banks, especially the wholesale-focused ones without strong parentage, would need to make structural changes and reorient their business models, leading to a recalibration of their asset under management mix, Crisil said on Wednesday.
Jefferies highlighted high valuations and downside margin risks for private life insurers.
RBI action disappointed the market as traders anticipated a cut following New Delhi’s sluggish economic growth.
Bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16, the Reserve Bank of India announced on Friday.
RBI has held several internal discussions and consulted with other central banks on possibility of launching India’s own digital currency.
Following the outage, several HDFC customers were unable to access their salary accounts to make bill payments.
The private lender, however, didn’t provide any timeline for an expected resolution.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon