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Tag Archives: Reserve Bank of India

Amazon India gets RBI nod to operate digital wallet

Amazon India has received a nod from the Reserve Bank of India (RBI) to operate a digital wallet or a prepaid instrument, a report by The Times of India (TOI) said. The licence to operate a digital wallet will be valid till fiscal year 2022, it added. Amazon’s rival Flipkart is also looking to invest in digital payments under the ... Read More »

Reason to cheer: No more limits on cash withdrawals at ATMs

All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month. In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to cease from March ... Read More »

Old Notes Valid For 10 More Days Amid Dash For Cash: 10 Developments

New Delhi:  Old Rs. 500 and Rs. 1,000 notes, scrapped last week in a sudden announcement by Prime Minister Narendra Modi, will be accepted at government hospitals, petrol stations and toll booths till November 24, the government announced on Monday morning, extending the deadline for the second time amid a nationwide scramble for cash. The government has also increased the ... Read More »

Accept Rs 500/1,000 notes only after careful scrutiny: RBI

MUMBAI: Worried over circulation of fake currency notes of Rs 500 and Rs 1,000 denomination, the RBI today asked the public to make it a habit to examine the notes before accepting them in the usual course of transactions. “It has come to our notice that unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in ... Read More »