Page-2 of Banking Current Affairs

RBI: Cardless cash withdrawal facilities at all ATMs

The Reserve Bank of India (RBI) has directed all banks, ATM networks, and White Label ATM Operators (WLAOs) to provide their customers with the option of Interoperable Card-less Cash Withdrawal (ICCW) across all ATMs in the country. How does this facility work? For Card-less Cash Withdrawal transactions, the Unified Payments Interface (UPI) facility will be ..

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NEFT, RTGS facility for Post Office Savings Account

The Department of Post has recently rolled out the NEFT and RTGS facility for Post Office Savings Bank Account (POSB) holders. The NEFT facility has been made available from May 18th, 2022, whereas the RTGS facility will be available from May 31st, 2022. What are the benefits? With the launch of the service, Post Office ..

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MSME RuPAY Credit Card- Phase 2

Union Minister for Micro, Small, and Medium Enterprises (MSMEs) launched the second phase of the MSME RuPay Credit Card with the National Payments Corporation of India (NPCI) and 4 banks- Kotak Mahindra Bank, Bank of Baroda, SBM Bank (India), and HDFC Bank. What are the benefits offered by MSME RuPAY Credit Card to MSME borrowers? ..

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What are new Guidelines issued by RBI on Issuance of Credit and Debit Cards?

On 21st April 2022, the Reserve Bank of India (RBI) issued a fresh set of guidelines for the issuance of debit and credit cards. These newly issued guidelines will come into effect from July 1 2022 and will be applicable to all banks except state cooperative banks, payments banks, and district central cooperative banks. These ..

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What are New LEI Guidelines by RBI?

The guidelines on Legal Entity Identifier (LEI) for large borrowers of Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs) have been extended by the Reserve Bank of India (RBI). Overview: The RBI has further advised that any non-individual borrowers enjoying aggregate exposure of Rs 5 crore and more from financial institutions (FIs) and ..

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Launch of UPI in UAE

The international arm of the National Payment Corporation of India, NPCI International Payments Ltd (NIPL) has announced that across the UAE, BHIM UPI is live on NEOPAY terminals. Overview: This initiative will be empowering the millions of Indians who travel to the UAE to make payments in a convenient and safe manner. The payments can ..

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