PayPal hikes cross-border remittance cap to USD50,000

PayPal has increased the limit of cross-border remittances to USD50,000, from USD25,000 in 2018 and USD10,000 in 2017, to keep up with demands of US...

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SBI offers more services for senior citizens

State Bank of India (SBI) has launched priced ‘doorstep banking’ for senior citizens over 70 years of age, as also for differently-abled...

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RBI to regulate payment gateway providers

Reserve Bank of India (RBI) proposes to regulate payment gateway service providers and payment aggregators

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RBI proposes umbrella body for Urban Cooperative Banks

RBI (Reserve Bank of India) has proposed to set up an umbrella organisation for urban cooperative banks to make them more financially resilient and...

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SBI alleges Aadhaar data misuse, UIDAI rubbishes charge

Officials of State Bank of India (SBI) have alleged that data of the Unique Identification Authority of India (UIDAI) has been misused

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Ombudsman for digital payments is now live

The Reserve Bank of India launched an ombudsman scheme for digital payments

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One lakh entries but 1-KYC project still a dream

Along the lines of Tolkein’s “One ring to rule them all”, one of India’s most ambitious projects is the Central KYC Registry...

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Amazon & Paytm have started physical KYC verification on their own

Amazon and Paytm are setting up physical infrastructure on their own to provide know-your-customer (KYC) services for users

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Bank of Baroda increases minimum balance limit for savings accounts

The bank for its metro, urban and semi-urban branches has increased the minimum quarterly average balance requirement for its savings account

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Complaints made to banking ombudsman from customers increase 25% in FY2017-18

The number of complaints registered at banking ombudsman offices have seen a 25% increase in the fiscal year 2018

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