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 ..



What are Prepaid Payment Instruments?

The Reserve Bank of India recently made three main changes to the Prepaid Payment Instruments. What are Prepaid Payment Instruments? The Prepaid Payment Instruments or PPI are means through which purchase of goods and services shall be made against the ..


National Common Mobility Card – Update (December, 2020)

On December 28, 2020, PM Modi launched the National common Mobility Card. The National Common Mobility Card will allow passengers with RuPay debit card to be swiped for Metro level. Key Features of National Common Mobility Card The National Common ..


What is National Common Mobility Debit (NCMC) card of Karnataka Bank?

Karnataka Bank Ltd. has launched the National Common Mobility Debit (NCMC) card. It is the first-ever contactless debit-cum-prepaid Rupay Card of the bank and is an inter-operable transport card. This debit card has been launched in-line with the Ministry of ..


Finance Minister announces Festival Advance scheme, LTC Cash Voucher Scheme

On October 12, 2020, the Finance Minister Nirmala Sitaraman Announced the Special Festival Advance Scheme and LTC Cash Voucher Scheme. The schemes were launched to boost the demand in the country. In all, the GoI has allocated Rs 73,000 crores ..


RBI extends authorization issued to Vakrangee to own and operate WLA

The Reserve Bank of India (RBI) has extended the validity of authorization issued to IT service management company Vakrangee, to setup, own and operate the White Label ATMs (WLA) in India. The validity of authorization has been extended till 31 ..