the rbi

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...

We are aware that most of the small merchants have disabled UPI payments via Rupay CC on their merchant QR, even for small value transactions below ₹2000. For small merchants below ₹20 lakh turnover, the MDR charges are 0% for Rupay CC payments below ₹2000. I believe there shouldn't be an...

edited th h h

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...

The credit reporting system in India needs improvement to match the standards of developed countries like the USA. As a leader in digital payments, India should strive to have a world-class credit reporting system to complement its digital banking infrastructure. Several issues have been...

On review, the RBI has observed that the existing arrangements between card networks and card issuers (banks and non-banks) limit the availability of choices for customers. As a result, the RBI has drafted a set of guidelines and is seeking feedback. It is expected that the implementation of...

On June 26, 2023, the Reserve Bank of India (RBI) imposed penalties on several credit information companies. CRIF High Mark Credit Information Services was fined Rs 25.75 lakh, Equifax Credit Information Services Rs 24.25 lakh, TransUnion CIBIL Rs 26 lakhs, and Experian Credit Information...