rbi

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...

Recently, I have visited multiple different Bank, and they all have different different timing likes HDFC close at 3:30, BOB work till 4:30 Is there any rule regarding working hours for a branch or Bank And in practical life, do branch or Bank follow them or not? And as a aware customer, how...

I had paid 21k credit card payment through mobiwik but transaction got failed and money is also debited from my bank account. Now on complaining mobiwik they asked me to raise a complaint through in app " help" section, but even after doing so my complaint is not raising. Mailed them and got...

RBI join PROJECT NEXUS: Next-generation cross-border Instant payment: If you dnt know what's PROJECT NEXUS, Here are all the details - In over 70 countries today domestic payments reach their destination in seconds at near-zero cost to the Sender or Recipient. This is thanks to the growing...

"The Reserve Bank of India (RBI) has mandated that all credit card payments be processed through the Bharat Bill Payment System (BBPS) by June 30" - TAKEN FROM NEWS WEBSITE **This will remove Phonepe, cred etc from credit card payment, which is a lose to us as well becoz these platforms...

This is regarding IndusInd platinum Rupay credit card which was issued to me on 30th March. Statement for the same is also generated on 5th April but card was undelivered physically to me as i was not there in that location, due to this Bank has blocked my credit card, on top of this i have not...

First ignore my English and paragraph Today I share my 2 experience again bank. 1) axis Bank I got WhatsApp message if i Spend 5k axis bank will give me 500 rs voucher last 4 digit of credit card mentioned. As per terms and conditions during 90 days voucher will be given. After 90 voucher...

Dear Friends, Happy to share with you all that I have received a compensation of Rs. 10,000 from Canara Bank for harassment. Canara Bank gave 0.5% less ROI on 4 FDs auto renewed in Dec 2023. When complained to BM over phone, he asked me to visit branch with the certificates. On reaching...

WTO: USA vs India | US and Switzerland are opposing UPI to reduce the cost of cross-border remittances: The remittance costs are about 6.18 per cent globally which is well above the United Nation's target of 3 per cent RBI, NPCI officials discuss remittance cost analysis with WTO member The...

Where we pay joining fees and annual fees for a card, there should not be any change allowed in credit card benefits even with 30 days notice. In most of the cases, I agree joining is covered by welcome benefits but it cannot be the case for all credit cards. Further in case of annual charges...

National Common Mobility Card can be issued with a limit of 3000 without any kyc specifically for transit payments. Once customers complete the KYC process, these cards can be can be used for regular transactions...

Read more: RBI ombudsman sees 68% rise in complaints in FY23 https://www.livemint.com/news/india/rbi-ombudsman-sees-68-rise-in-complaints-in-fy23/amp-11710176669137.html #jagograhakjago

Amazon Pay get RBI's payment aggregator license How will this benefit retail customers? How will it lead to higher rewards/ utility of amazon pay?

Dear Members, There is a clause regarding Re-KYC in the comprehensive document on KYC released by RBI that is Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on January 04, 2024), in Part V, 38. it states: I found the highlighted clause interesting. Use case: I have...

Im completely pissed with this mobikwik, I did a wallet to upi transaction a 15 days back and it was pending after some time it showed failed as the status. And I asked mobikwik and they said they have processed the refund .. after enquiring they said that they have processed it as refund to...

In the interest of customers, the RBI on Friday gave Paytm Payments Bank Ltd (PPBL) 15 more days till March 15, 2024 Do you think this extension will continue further and save Paytm? Or will they sort their documents and continue to function? The shareholders' excitement continues... Reminder...

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...

Axis Bank gave compensation of Rs 47500 for delay in closing the credit card: This story is shared by one tweeter, Username - Credofly on his twitter handle. Success Story - A win against Axis Bank - Requested for credit card closure in August 2023. Credit card closed in November 2023...

Paytm now tieup with 3rd party banks to continue Paytm Payment Gateway business: Update: Paytm Payments Bank Limited, an associate of Paytm receives RBI directions. Paytm to expand its existing relationships with leading third-party banks to distribute payments and financial services products...

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...