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Official Website of Reserve Bank of India	
ಪತ್ರಿಕಾ ಪ್ರಕಟಣೆಗಳು
												ಫೆಬ್ರವರಿ 08, 2021
                                                    
                                            
                                            
                                                
                                                    
																													RBI releases Annual Report of Ombudsman Schemes, 2019-20
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank of India (RBI) today released the Annual Report of the “Ombudsman Schemes of the Reserve Bank for the year 2019-20”. The Banking Ombudsman Scheme (BOS) was first notified by the Reserve Bank in 1995 under Section 35 A of the Banking Regulation Act, 1949. It is administered by the Reserve Bank through 22 Offices of Banking Ombudsman (OBOs) covering all states and union territories. The Annual Report covers the activities under the Banking Ombudsman Sch
                                                        
                                                        
                                                    
                                                    The Reserve Bank of India (RBI) today released the Annual Report of the “Ombudsman Schemes of the Reserve Bank for the year 2019-20”. The Banking Ombudsman Scheme (BOS) was first notified by the Reserve Bank in 1995 under Section 35 A of the Banking Regulation Act, 1949. It is administered by the Reserve Bank through 22 Offices of Banking Ombudsman (OBOs) covering all states and union territories. The Annual Report covers the activities under the Banking Ombudsman Sch
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಜನವರಿ 25, 2021
                                                    
                                            
                                            
                                                
                                                    
																													RBI releases Booklet on Payment Systems in India
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank today released the Booklet on Payment Systems covering the journey of Payment and Settlement Systems in India during the second decade of the millennium, viz., from the beginning of 2010 till the end of 2020. This Booklet captures the transformation of India in the sphere of payment and settlement systems and describes, inter-alia, the legal and regulatory environment underpinning the digital payments systems, various enablers, payment options availab
                                                        
                                                        
                                                    
                                                    The Reserve Bank today released the Booklet on Payment Systems covering the journey of Payment and Settlement Systems in India during the second decade of the millennium, viz., from the beginning of 2010 till the end of 2020. This Booklet captures the transformation of India in the sphere of payment and settlement systems and describes, inter-alia, the legal and regulatory environment underpinning the digital payments systems, various enablers, payment options availab
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಜನವರಿ 13, 2021
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank constitutes a Working Group on digital lending including lending through online platforms and mobile apps
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	Digital lending has the potential to make access to financial products and services more fair, efficient and inclusive. From a peripheral supporting role a few years ago, FinTech led innovation is now at the core of the design, pricing and delivery of financial products and services. While penetration of digital methods in the financial sector is a welcome development, the benefits and certain downside risks are often interwoven in such endeavours. A balanced approach
                                                        
                                                        
                                                    
                                                    Digital lending has the potential to make access to financial products and services more fair, efficient and inclusive. From a peripheral supporting role a few years ago, FinTech led innovation is now at the core of the design, pricing and delivery of financial products and services. While penetration of digital methods in the financial sector is a welcome development, the benefits and certain downside risks are often interwoven in such endeavours. A balanced approach
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಜನವರಿ 01, 2021
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank of India introduces the RBI-Digital Payments Index
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	As announced in the Statement on Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020, the Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country. The RBI-DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time p
                                                        
                                                        
                                                    
                                                    As announced in the Statement on Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020, the Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country. The RBI-DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time p
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಡಿಸೆಂ 24, 2020
                                                    
                                            
                                            
                                                
                                                    
																													Regulatory Sandbox (RS) - First Cohort on Retail Payments - Test Phase
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	Under the first cohort of Regulatory Sandbox (RS), two entities commenced testing of their products from November 16, 2020, which was communicated vide Press Release dated November 17, 2020. Remaining four entities selected for the ‘Test Phase’, have started testing of their products as per details below: Sr. No. Sandbox Entity Description 1 Tap Smart Data Information Services Private Ltd. (CityCash) Mumbai The product is a set of Near-Field Communication (NFC) based
                                                        
                                                        
                                                    
                                                    Under the first cohort of Regulatory Sandbox (RS), two entities commenced testing of their products from November 16, 2020, which was communicated vide Press Release dated November 17, 2020. Remaining four entities selected for the ‘Test Phase’, have started testing of their products as per details below: Sr. No. Sandbox Entity Description 1 Tap Smart Data Information Services Private Ltd. (CityCash) Mumbai The product is a set of Near-Field Communication (NFC) based
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಡಿಸೆಂ 16, 2020
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank announces opening of Second Cohort under the Regulatory Sandbox
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	Post announcement of commencement of Test Phase under the First Cohort on Retail Payments vide Press Release dated November 17, 2020, the Reserve Bank now announces opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme. 2. India is the largest recipient of inbound remittances across the globe accounting for 15% of global share; in the year 2019, India received $83 bn and in the first half year of 2020, has received $27.4
                                                        
                                                        
                                                    
                                                    Post announcement of commencement of Test Phase under the First Cohort on Retail Payments vide Press Release dated November 17, 2020, the Reserve Bank now announces opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme. 2. India is the largest recipient of inbound remittances across the globe accounting for 15% of global share; in the year 2019, India received $83 bn and in the first half year of 2020, has received $27.4
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ಡಿಸೆಂ 09, 2020
                                                    
                                            
                                            
                                                
                                                    
																													RBI announces date for launching of RTGS 24x7
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	Reserve Bank had announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System (RTGS) will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020. India will become one of the few countries in the world to operate its RTGS system round the clock throughout the year. This comes within a year of operational
                                                        
                                                        
                                                    
                                                    Reserve Bank had announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System (RTGS) will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on December 14, 2020. India will become one of the few countries in the world to operate its RTGS system round the clock throughout the year. This comes within a year of operational
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ನವೆಂ 20, 2020
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank of India imposes monetary penalty on (1) Sodexo SVC India Private Limited, (2) Muthoot Vehicle & Asset Finance Limited, (3) QwikCilver Solutions Private Limited, (4) Phonepe Private Limited, (5) Delhi Metro Rail Corporation Limited and (6) Punjab National Bank
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following entities for non-compliance of regulatory guidelines. Sr. No. Name of the Entity Speaking Order dated Amount of Penalty (₹ lakh) Non-bank Prepaid Payment Instrument Issuers 1. Sodexo SVC India Private Limited 03-08-2020 200.00 2. Muthoot Vehicle & Asset Finance Ltd. 12-08-2020 34.55 3. QwikCilver Sol
                                                        
                                                        
                                                    
                                                    In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following entities for non-compliance of regulatory guidelines. Sr. No. Name of the Entity Speaking Order dated Amount of Penalty (₹ lakh) Non-bank Prepaid Payment Instrument Issuers 1. Sodexo SVC India Private Limited 03-08-2020 200.00 2. Muthoot Vehicle & Asset Finance Ltd. 12-08-2020 34.55 3. QwikCilver Sol
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ನವೆಂ 17, 2020
                                                    
                                            
                                            
                                                
                                                    
																													Regulatory Sandbox (RS) - First cohort on Retail Payments - Test Phase
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank had announced opening of the first cohort under Regulatory Sandbox vide Press release dated November 04, 2019. The Reserve Bank received applications from 32 entities of which six have been selected for the ‘Test Phase’. The commencement of testing was delayed on account of the present COVID-19 situation. Two entities, as per details below, have started testing of their products from November 16, 2020. The remaining four are expected to start the test
                                                        
                                                        
                                                    
                                                    The Reserve Bank had announced opening of the first cohort under Regulatory Sandbox vide Press release dated November 04, 2019. The Reserve Bank received applications from 32 entities of which six have been selected for the ‘Test Phase’. The commencement of testing was delayed on account of the present COVID-19 situation. Two entities, as per details below, have started testing of their products from November 16, 2020. The remaining four are expected to start the test
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ನವೆಂ 17, 2020
                                                    
                                            
                                            
                                                
                                                    
																													Reserve Bank Innovation Hub
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank in its Monetary Policy Statement on Development and Regulatory Policies dated August 06, 2020, had announced that the Bank will set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation. RBIH would be guided and managed by a Governing Council (GC) led by a Chairperson. The Reserve Bank has appointed Shri Senapathy (Kri
                                                        
                                                        
                                                    
                                                    The Reserve Bank in its Monetary Policy Statement on Development and Regulatory Policies dated August 06, 2020, had announced that the Bank will set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation. RBIH would be guided and managed by a Governing Council (GC) led by a Chairperson. The Reserve Bank has appointed Shri Senapathy (Kri
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
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