rbi circular

RBI released a circular today to increase frequency of reporting. How will this impact us? The new rule says: Banks and lenders must share information with credit bureaus more often (every two weeks instead of every month). Credit bureaus must process this information faster. Banks and...

Hi Technofino Community, I want to share my experience with a failed transaction on Mobikwik and the process I went through to get compensated, hoping it might help others facing similar issues. On 1st July 2022, I made a transaction on Mobikwik for ₹2500, but the transaction failed. After the...

The Reserve Bank of India (RBI) on Friday came out with guidelines for the voluntary conversion of small finance banks (SFBs) into universal banks. “Such conversion shall be subject to the SFB’s fulfilling minimum paid-up capital/net worth requirement as applicable to universal banks...

Earlier, in 2023, the RBI drafted a circular regarding card network agreements and card network changes, wherein they mentioned that banks and non-banking card issuers should not sign any agreements with card networks that prevent them from issuing cards on other card networks. Now, on March 6...

Dear Team Members , I have requested credit card closer on September 2022 my card is closed on card level but in account level it is not closed so 500 rs penalty rules apply or not. Please help me Edit On 16-02-2024 Now Card is also Cancelled On Account Level And New Credit card Statement...

This is from Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 Chapter-II, 6, (a),: vi. Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more...

I have been trying from last many years for getting HSBC credit card but after initial online approval with 4+ lakh limit my application getting rejected after video KYC . Mailed them about actual reason for application decline but everytime i got response as 'Banks Internal Policy'. So i moved...

Ref RBI Circulars: - https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1574 - https://rbi.org.in/Scripts/NotificationUser.aspx?Id=3315&Mode=0 RBI says this. Now, how we can use this for the benefits of consumers. Basically, banks have the habit of giving a blanket...