rbi guidelines

My sbm bank saving account permanently closed on 2023 but yesterday I received WhatsApp message from sbm bank to reactivate my closed account by doing vkyc but I heard that once saving account closed permanently we cannot reopen the same account so I want to know that any one reopened their...

I recently encountered a concerning issue with BoBCard, which seems to be violating RBI guidelines on credit card activation and reporting. After applying for the Eterna Credit card, I got an approval, and the card was reflected in the banking app instantly. However, here’s where things went...

Hello TFCians, Recently, I applied for the IDFC First Mayura Credit Card just for review purposes, as this card is not value for money, as I mentioned in my review article. I only planned to hold it for the first year. I've written a detailed review of this product, which you can check here...

It was a concern regarding a failed UPI transaction of 100₹ made using my ICICI Rupay Credit Card on September 14, 2023. I sent one email on October 7, 2023 because my refund was delayed and Then after my mail, they refunded 100₹ on October 8, 2023, after 24 days. As per RBI guidelines...

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India P2P has temporarily halted withdrawals and new investments on its platform following new RBI guidelines on NBFC-P2P lending, issued on August 16. The company informed customers that bulk withdrawals will be limited in compliance with these rules. It reassured that no non-compliance has...

I had opened a savings account in Bandhan Bank (Rs 5000 AMB). I had opened it just to keep extra money there and to link it to my stockbroker. I opened it only after seeing on the NPCI website that it supports Aadhaar-OTP UPI registration. However, I was unable to register using the said method...

In 2023, I set up autopay in my Lazypay account using my Axis Bank account. Things were smooth until I decided to take advantage of pre-approved offer from ICICI Bank. To make this happen, I transferred all my funds from Axis Bank to ICICI Bank in order to increase transactions, and that's when...

Hi TFians My father had taken a vehicle loan in 2007 and paid it off in few years. He had even obtained an NOC certificate and last payment date is in March 2013. However when I refreshed his CIBIL report today, the account still shows as active in CIBIL, though outstanding amount is 0. I have...

Hi Friends, As we all know BBPS is mandated. Unfortunately Telangana Electricity Board ( TGSPDCL ) has not signed up for it yet, leaving us to pay the electricity bills via their website using Billdesk or TA Wallet. Until last bill - I used to pay using Amazon Pay Balance, acquired from...

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...

As expected from ICICI Bank, I found that they are not following a particular RBI guideline. Recently, I was looking at my ICICI Bank Emeralde Private Metal Credit Card statement and noticed a problem. The problem: The RBI directed all credit card issuers in India to follow this guideline: "v...

We all know about credit cards, but we often don't bother to learn about the RBI guidelines for credit cards and their issuers. When we encounter problems, we contact the bank and trust them blindly. But banks don’t always tell you the truth. In fact, people lose more money to banks than to...

As per new RBI guid lines If customer have some refund on credit card for which customer have already paid credit card bill customer have option to get that refund amount on his/her bank account. One of my friend received refund amount of ICICI cc into his saving account. I don't see this...

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...