Want to transfer money between mobile wallets? Now use UPI


Now it would be easier for you to transfer money between wallets. Users of portable wallets now will able to transfer money to exchange from one wallet then onto the next, with the Reserve Bank of India (RBI) discharging rules for the equivalent. The standards on interoperability of prepaid payment instruments (PPIs) don’t force PPIs, for example, wallets to allow…

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Customer Guidelines – New KYC rules for banks


There are times when the customers in various banks feel insecure about their money or they are ignored when they visit the banks. These things have continuously kept haunting people and they are yet to get any results on this. There have been so many changes where RBI asked the banks to take strict actions on increasing problems, be it…

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Rs. 75 coin coming soon as notified by Finance Minister


The Government declared that it will disclose the Rs 75 coin on the event of 75th commemoration of lifting the Tricolor by Netaji Subhash Chandra Bose at Port Blair. A notice regarding the same has been issued by the Ministry of Finance.   “The coin of seventy-five rupees will just be instituted at the Mint for issue under the expertise…

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Visa, Mastercard and American Express may be taxed on India income


Worldwide Credit card companies, for example, Visa, Mastercard and American Express may need to pay around 15% government taxes on their India pay as they set up servers locally to consent to a national bank order on information stockpiling.   The Reserve Bank had requested payment organizations to locally store information on all exchanges occurring inside India from October 15.…

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Fixed deposit rates by various banks and NBFCs


Fixed deposits have turned into an alluring investment and speculative alternative for a dominant part of hazard loath specialists and in addition senior residents as far back as their loan fees began rising again this year. Furthermore, the FD rates will undoubtedly go up in this rising financing cost administration, or, in other words for speculators hoping to put resources…

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ATM transaction got declined but amount got deducted? Here’s what you should do


Have you ever faced the problem, where the ATM machine fails to dispense cash, but your account gets debited? This, however, doesn’t happen as such, but if this ever happens to you then following are the steps to follow right away. No one would want to lose money without any reason. All the following steps are guided by the Reserve…

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How to file an online complaint with RBI’s Banking Ombudsman?


The Banking Ombudsman Scheme of RBI was formed the year 2006 to let people file their disputes in the form of complaints to resolve any kind of banking of banking problems that they have faced. The main agenda of this scheme to resolve the complaints related to banks and provide a satisfaction in favour of these complaints. Basically, the Banking…

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Cash-on-delivery deals not authorized, says RBI


It seems that the payment method that is the COD (Cash on delivery) which we all see on platforms like Amazon and Flipkart may not be authorized according to the RBI (Reserve Bank of India) as reported to RTI. This is as per the report in The Economic Times. As per the report, it seems that the RBI has made…

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