Payments Current Affairs, GK & News

RBI formulated new regulations framework for Umbrella entity for retail payments

The Reserve Bank of India formulated a new framework for the establishment of a new umbrella entity for retail payments. According to RBI, the entity will be handed over the responsibility of setting up, managing, and operating new payment systems in the retail space following the same way as the National Payments Corporation of India ..

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Update : Digital Transactions in India

India’s largest bank, the State Bank of India, has waived the NEFT and RTGS transactions on the payments carried on the internet and mobile banking from July 1. This comes on the heels of an earlier Reserve Bank of India order to do away these charges to promote a cash less-cash economy in the country. ..

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India unfurls 7-point strategy to boost exports to $360 bn in 2012-13

The Govt with an aim to thrust exports up by 20% in 2012-13 announced a series of initiative as part of 7-point strategy including interest subsidy and market diversification programmes. It announced extension of Interest Subsidy Scheme by 1 year till March 31, 2013 for labour intensive sectors. The government also decided to bring new ..

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