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ICICI Lombard and Mobikwik collaborates to provide Insurance cover of Rs 50,000

ICICI Lombard and Mobikwik has announced a partnership to avail cyber-insurance cover of Rs 50,000 crore to defend against online frauds. This partnership aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets. This cyber-insurance can be availed digitally through an app at only Rs 99 per ..

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RBI prohibits Mobile network operators from offering mobile wallet facility

The RBI asserted that it will not permit mobile network operators to offer cash-out or mobile wallet service. Why RBI has asserted this? As per RBI, mobile wallet is basically an e-money product and therefore permitting mobile network operators provide this facility may bypass banking regulations. However, RBI allows transactions if mobile network operators operate ..

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