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

‘REs should incorporate secure, safe usage guidelines for digital payments’ February 18, 2021 × The Reserve Bank of India (RBI) wants regulated entities (REs) to make it mandatory for the consumer to go through secure usage guidelines vis-a-vis digital payment applications. REs (all Scheduled Commercial Banks,excluding Regional Rural Banks/ Small Finance Banks/Payments Banks/ Credit Card issuing non-banking finance companies) should incorporate secure, safe and responsible usage guideline...

RBI tightens payments security norms for banks, digital payment operators SECTIONS Last Updated: Feb 18, 2021, 09:15 PM IST Share Synopsis “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 central bank said in a circular. Reuters The new rules come at a time when India’s burgeoning payments ecosystem has seen increased instances of outages...

 43 It is over a decade now that, we, Indians have been putting up with the harassment, humiliation and mental agony of banks arrogantly freezing savings and current accounts for technical reasons, the most common one being non-compliance with frequent updation of know-your-customer (KYC) documents mandated by the government. Banks blame it on the Reserve Bank of India (RBI). RBI washes its hands off any responsibility by pointing to the Prevention of Money Laundering Act, 2002 (PMLA) and the ...

Non-convertible Debentures: Entry Routes for Foreign Investors A. Introduction 1 public issues of non-convertible debentures ( NCDs) and over 1,600 2 private placements of corporate bonds in India, which is encouraging given the COVID-19 pandemic and brief loss of investor appetite in the initial phase of the pandemic.  An increasing number of M&A transactions also now involve NCDs as a form of consideration/funding.  As such, the rising popularity of NCDs as a preferred mode of structured de...

To print this article, all you need is to be registered or login on Mondaq.com. Towards the end of 2019, Indias central bank (Reserve Bank of India) introduced significant changes in its regulations covering External Commercial Borrowings or ECBs. While ECBs are governed by the Foreign Exchange Management Act, 1999 (FEMA), the most recent Master Direction covering ECBs was updated in August 2019. The Master Direction significantly simplified ECB regulations, opening ECBs...

HFCs are on firmer ground now December 21, 2020 Strong foundation: The new rules will provide a further fillip to the housing sector and stimulate demand generation in the economy   -  NAGARA GOPAL Strong foundation: The new rules will provide a further fillip to the housing sector and stimulate demand generation in the economy   -  NAGARA GOPAL× The new RBI norms will strengthen the capital base of housing finance companies and usher in best practices In yet another spell of reforms, the ...