Banking

RBI Adds FASTag, NCMC Auto-Replenishment to E-Mandate Framework

The Reserve Bank of India (RBI) has updated its e-mandate framework to include the auto-replenishment of balances in FASTag and the National Common Mobility Card (NCMC). Under the new rules, these auto-replenishment transactions, which occur when balances fall below a...

Bandhan Bank Launches Avni Savings Account for Women

On August 22, 2024, Bandhan Bank, celebrating its Foundation Day, introduced Avni, a savings account tailored specifically for women. This launch is accompanied by the Bandhan Bank Delights loyalty program, designed to offer rewards, discounts, and exclusive benefits. Avni Savings...

PhonePe’s ‘Credit Line On UPI’ Revolutionizes Digital Transactions

PhonePe on August 22, announced the launch of Credit Line on UPI on its platform. Consumers who avail credit lines from their banks can now link these credit lines to UPI on PhonePe and seamlessly make merchant payments. Benefit of...

RBI Forecasts Private Capex to Rise to ₹2.45 Trillion in FY25

The Reserve Bank of India (RBI) study forecasts a substantial increase in private capital expenditure, projecting it to reach ₹2.45 trillion in FY25, up from ₹1.59 trillion in FY24. This rise is attributed to robust investment intentions and the ongoing...

Airtel Payments Bank Enhances Security with AI-Powered Face Match

Airtel Payments Bank has introduced a new security feature called Face Match, leveraging AI to enhance account protection. This advanced tool uses machine learning algorithms to detect potential threats and prompts facial recognition verification when needed. How Face Match Works...

RBI Governor Shaktikanta Das Ranked Top Central Banker for 2nd Year

Reserve Bank of India (RBI) Governor Shaktikanta Das has been recognized as the top central banker globally for the second straight year by the US-based Global Finance magazine. He was awarded an 'A+' grade in the prestigious Global Finance Central...

RBI Releases Draft Norms for Fintech Self-Regulatory Organisations

The Reserve Bank of India (RBI) has unveiled a draft framework for the establishment and recognition of self-regulatory organizations (SROs) in the fintech sector. The draft rules aim to strike a balance between fostering innovation within the industry and ensuring...

RBL Bank Announces Vijay Fixed Deposits to Honor 78th Independence Day

RBL Bank has introduced a special "Vijay Fixed Deposits" scheme to commemorate India's 78th Independence Day. The bank offers a 500-day fixed deposit tenor with highly competitive interest rates, providing an opportunity for customers to grow their savings while paying...

Axis Bank and Visa Launch Exclusive ‘PRIMUS’ Credit Card for India’s Elite

Axis Bank, in partnership with Visa, has unveiled the 'Primus' credit card, an ultra-premium offering tailored exclusively for India's ultra-high-net-worth individuals (UHNWIs). This invite-only card is designed to meet the discerning needs of the wealthy elite, offering unparalleled luxury, exclusivity,...

PNB Launches Special Braille Debit Card for Visually Impaired Customers

Punjab National Bank (PNB) has introduced the PNB ANTAH DRISHTI Braille Debit Card, a new initiative aimed at enhancing financial accessibility for visually impaired individuals. This contactless National Common Mobility Card (NCMC) debit card operates on the RuPay network and...