Category: NEWS CATEGORIES

The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. At present, UPI facilitates transactions by linking savings or current accounts through users’ debit cards. ” it is proposed to allow linking of credit cards to UPI,” RBI Governor Shaktikanta Das said while announcing the regulatory moves, along with the bi-monthly policy review. He said that to start with Rupay credit cards issued by the RBI-promoted National Payments Corporation of India…

 Home, auto and other loan EMIs will rise after Reserve Bank of India on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in rise in prices that it saw continuing to hurt consumers in the near term. With inflation persistently hovering above the upper tolerance limit of 6 per cent, the RBI’s six-member rate-setting panel voted unanimously to raise the lending rate of the repurchase (repo) rate by 50 basis points to 4.90 per cent, Governor Shaktikanta Das said. The…

 Union Minister Nirmala Sitharaman on Tuesday said regulators and other entities should be well advanced and ahead of the curve in understanding digitisation to ensure that there is no misuse of technologies. Sitharaman, who is in charge of finance and corporate affairs ministries, also emphasised the need to have firewall mechanisms in the context of digitisation. The decade from 2020 and upwards will be infused with digital methods, she added. Sitharaman was speaking at the event to flag off Iconic Day celebrations of the corporate affairs ministry as part of…