The Reserve Bank of India (RBI) has developed guidelines for establishing Digital Banking Units (DBUs). This is in accordance with the Indian finance minister Nirmala Sitharaman’s announcement in...
Apr 11, 2022
As announced in the Statement on Developmental and Regulatory Policies in the first Bi-monthly Monetary Policy Statement for 2021-2022 dated April 07, 2021, the Reserve Bank of India (RBI) has...
Aug 17, 2021
With the appointment of new Deputy Governor, T Rabi Sankar, the Reserve Bank of India has reshuffled the portfolio of responsibilities among all the deputy governors. The new Deputy Governor...
May 05, 2021
The Reserve Bank of India (RBI) has issued an order to HDFC Bank to not just temporarily stop the launch of digital business generating activities under its Digital 2.0 program but also put a hold on...
Dec 03, 2020
Former Reserve Bank of India (RBI) governor, Raghuram Rajan, and his erstwhile colleague, former deputy governor, Viral Acharya, have suggested significant reforms for the Indian public sector banks...
Sep 22, 2020
Modernization of its structured financial messaging system, augmentation of infrastructure security layer and adoption of Wi-Fi 6 across the organization are among the Reserve Bank of India’s...
Aug 28, 2020
The stock market regulator, Securities & Exchange Board of India (SEBI) has decided to allow live testing of new fintech products, services and business models by companies on select customers....
Feb 17, 2020
The Reserve Bank of India (RBI) has released a draft approach paper to roll out Regulatory Sandboxes (RS), a mechanism to facilitate technology-leveraged innovation in the financial sector in a...
Apr 24, 2019
The Reserve Bank of India (RBI) has imposed a monetary penalty of INR 10 million on Indian Bank for contravention of RBI circular on Cyber Security Framework in banks issued by the regulator in...
Dec 11, 2018
In what could be seen as a very progressive stance by the Indian regulator, BP Kanungo, Deputy Governor of Reserve Bank of India (RBI), called for creating regulatory sandbox to support innovation in...
Jun 04, 2018
After years of announcements regarding blockchain Proofs of Concept and Pilots, a first successful enterprise grade deployment that includes multiple financial services organizations has taken place...
Apr 04, 2018
With the Institute for Development and Research in Banking Technology (IDRBT), the nodal technology research centre set up by RBI announcing a successful trial of blockchain technology involving a...
Jan 25, 2017
Reserve Bank of India governor Raghuram Rajan singled out payment systems to highlight the big changes that are taking place through technology. He was speaking at the IDRBT Banking Technology...
Jul 21, 2016
The Reserve Bank of India has set up an inter regulatory Working Group (WG) to study the entire gamut of regulatory issues relating to Fin Tech and Digital Banking in India. RBI’s financial stability...
Jul 15, 2016
The Indian central bank, Reserve Bank of India, is known globally for its balanced, no-nonsense approach to regulation. So, when it comes out with a guidelines/circular regarding some new...
Jun 27, 2016
There is no new ‘vision’ or specific shifts in the just released payment and settlement system vision of Indian central bank Reserve Bank of India (RBI). Instead, the entire thrust seems to be on...
Jun 26, 2016
Banks should immediately put in place a cyber-security policy approved by their respective boards, Indian banking regulator Reserve Bank of India has said in a circular sent to all CMDs/CEOs of...
Jun 07, 2016
A combination of factors such as convenience, awareness and growing penetration of smart phones are driving the usage of mobile banking in India. According to latest data available from Reserve Bank...
May 16, 2016
When RBI governer Raghuram Rajan warned against hasty implementation of NDA’s flagship financial inclusion plan, Pradhan Mantri Jan Dhan Yojana and urged banks not to run after numbers alone, it was...
Dec 10, 2015
Where do Indian chief information security officers (CISOs) stand in the organizational structure? Who do they report to? What is their relationship with other functional departments, especially IT...
Nov 23, 2015
Yesterday, Immediate Payment Service (IMPS) in India completed five years of its existence. It was on 22 November 2015 that National Payment Corporation of India had launched this real time money...
Nov 23, 2015