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UPI transactions surpass mobile wallets in September

In September, the number of transactions made through Unified Payments Interface (UPI) has surpassed transactions done through mobile wallets for the first time this...

Reserve Bank bans virtual currencies, including Bitcoins

The Reserve Bank of India (RBI) made an announcement yesterday that it has barred all financial institutions from dealing with Bitcoins or other such...

Reserve Bank allows priority loans to be classified as standard debt

The Reserve Bank of India (RBI) has notified banks that priority loans that have been offered to defaulting companies can be classified as standard...

SBI to reintroduce penalty for accounts without minimum balance

From the next financial year (i.e. as of 1st April 2017), the State Bank of India (SBI) will reintroduce penalties for failure to maintain...