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Non-banks can issue prepaid instruments: RBI

MUMBAI: RBI said non-banks can issue prepaid payment instruments to commuters of transit services after its approval. ....

National Common Mobility Cards , National Common Mobility , Transit Services , Prepaid Instruments , Non Banks ,

Nifty hits new high before closing at day's low

Domestic equities traded lackluster on Friday despite Nifty touching a new high of 22,297 intra-day for the fifth consecutive session, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. ....

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RBI GSTN data: GSTN to share data with RBI's frictionless credit platform

The Indian government has allowed the GST Network to share data about GST-registered businesses with the Reserve Bank s Public Tech Platform for Frictionless Credit based on their consent. This move aims to facilitate quicker loan processing for entities by providing lenders with shared Goods and Services Tax (GST)-related information. ....

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Payments banks to knock on RBI's door to seek permission for small-value deposits: Report

The need to enhance the scope of activities of these ‘vertically differentiated banks’ comes in the backdrop of five out of the 11 applicants who were given in-principle approval to start a PB in 2015, either not commencing operations or voluntarily giving up their certificate of registration. ....

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RBI wants to keep inflation vigil, MPC's external members see room to ease a bit

External members of the Monetary Policy Committee suggest reducing policy interest rates due to temporary food shocks and high real interest rates. However, caution is advised as markets are running ahead of policy makers and inflation history suggests challenges in bringing it down. ....

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