Electronic Banking Transactions Current Affairs, GK & News

NPIC to export UPI, sets up subsidiary: RBI Governor

The Unified Payment Interface was introduced in India in 2016. Based on its performance, Google has recommended similar service called FedNow to the US Federal Reserve Board. With its growing popularity, the RBI on December 16, 2019 announced that NPCI will set up a subsidiary to export UPI. India is already extending the app to ..

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RBI limits Customer liability in Online Banking

RBI has issued directions on ‘Customer Protection – Limiting Liability of Customers in unauthorised Electronic Banking Transactions’. RBI has issued the revised directions amidst a recent increase in customer grievances related to unauthorised transactions. Salient Highlights The following are the salient highlights of the revised directions: If the customers report to the banks regarding the loss they suffer through online banking transactions within three days, then the ..

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