Page 18 - Master Direction News Today

RBI caps age at 70 for bank MD, CEO, director positions Updated: Updated: Regulator fixes upper limit of 15 years for post tenures Share Article Regulator fixes upper limit of 15 years for post tenures The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector bank at 15 years and prescribed the maximum age of 70 years for such functionaries. These directives form part of the instructions issued by the RBI on Monday with regard to th...

RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claim and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that I can get my shipping bill closed in the E...

RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claims and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that without I can get my shipping bill closed...

Highlights Increase from Rs 1 lakh to Rs 2 lakh. Maximum end-of-day balance hiked. New Delhi: The Reserve Bank of India (RBI) has doubled the limit of maximum balance that an individual customer can hold with Payments Banks. Additionally, while your mobile wallets may soon turn into a bank as they will be allowed to transfer and get funds, just like you do with your bank account. Henceforth, Payments Banks can hold a maximum balance of Rs 2 lakh per individual customers at the end of the day. T...

Know the law: What are the legal restrictions involved in wiring money from India?

The RBI circular on digital payments rules comes at a time when outages, frauds and data breaches have spiked in Indias burgeoning payments ecosystem.

Startup news and updates: daily roundup (Feb 19, 2021) YourStory presents this daily roundup of the latest startup news and updates from the Indian startup ecosystem and beyond. Heres the roundup for Friday, February 19, 2021. 0 claps WhatsApp will display a banner on the app providing users with more information on privacy policy and terms of use updats that have drawn massive criticism over concerns on data sharing with parent Facebook. The contentious policy, whose rollout date was pushed to...

RBI tightens digital payment security norms for lenders; issues new rules The Master Direction lays down guidelines for internet banking, mobile payments, card payments, customer protection, and grievance redressal mechanism BusinessToday.In | February 19, 2021 | Updated 16:30 IST The new norms come at a time when Indias thriving payments ecosystem has witnessed increased occurrences of frauds, outages, and cyber breaches The Reserve Bank of India (RBI) has toughened digital payment security n...

The Reserve Bank of India (RBI) has published detailed guidelines to strengthen Indias digital payments architecture and improve security, control and compliance among banks, gateways, wallets and other non-banking entities. RBI noted that the Master Direction provides necessary guidelines to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services. The guidelines are technology and platform agnostic and shall cr...