Although, mobile wallets do not have account numbers, but the prepaid instruments—mobile wallets—can become part of centralized payments systems:
On April 7, the RBI had said it will put in place a secondary market government securities acquisition programme or G-SAP 1.0 for this fiscal to enabl
Payment banks are offering interest rates as high as 7.5%. Also, most of the payment banks have the facility of zero balance account.
RBI Governor's assurance to provide adequate credit by ensuring liquidity and announcement of Rs 10,000 crore additional liquidity to NHB must be pass
The growth forecasts appear to be encouraging and the economic activity momentum will be further consolidated, says an expert
At the interbank forex market, the local unit opened at 73.52 against the greenback and traded in the range of 73.52 to 74.50 during the day
Industry body Assocham said that this decision would also get immense support from a slew of other critical measures announced by RBI
In addition, RBI has enhanced the aggregate WMA limit of states and Union Territories (UTs) to Rs 47,010 crore per year
The central bank also doubled the maximum balance a single account in a payments bank can carry to Rs 2 lakh at the end of the day
It will form the basis for setting rules for India's fast-growing digital lending sector