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FAQs on chit funds and why they were seen as ponzi schemes
If the chit fund is carrying out business without registration, it is an unrecognised entity where investors have no protection from any quarters in c
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Close some ATMs, but don’t sacrifice customer interest
Banks are reducing the number of ATMs but they should be done only after a careful consideration of the convenience they offer to vast sections of cus
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Failed digital transactions bothering you? Here’s how the Ombudsman can help you
The Reserve Bank Of India had introduced an Ombudsman Scheme for Digital transactions in 2019, under Section 18 of Payment and Settlement Systems Act
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Systemic risk in Indian banks to remain high: S&P
S&P Global Ratings believes systemic risks facing banks in India are likely to remain high in the wake of the second wave of COVID-19 infections and a
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Remain watchful of evolving situation, push credit flows: RBI Governor Shaktikanta Das to banks
Shaktikanta Das also highlighted the recent policy measures taken by RBI to further support the ongoing recovery while preserving financial stability
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How will users withdraw money from mobile wallets at ATMs?
Although, mobile wallets do not have account numbers, but the prepaid instruments—mobile wallets—can become part of centralized payments systems:
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ATM industry continues to shrink, SBI shuts 873 in December quarter
The second wave of Covid-19 pandemic and the increased digitisation may choke cash machines, already reeling under unviable operations
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Growth is good, but it cannot be a single-minded pursuit
Earlier this week, RBI governor Shaktikanta Das said growth is of “paramount importance” but putting inflation in the backburner will be disastrou
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Everything you need to know about RBI’s latest decision for digital wallets
RBI said it will allow cash withdrawal from digital wallets as well as non-bank entities via prepaid cards
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Fitch Solutions sees RBI holding interest rates through FY22
Fitch Solutions also revised its inflation rate forecast to an average of 5% in FY22, up from 4.6% previously, due to elevated inflationary pressures
