The RBI (Reserve Bank of India) is reportedly tracking mobile wallet companies and their monthly status reports pertaining to the number of customers who have completed their authentication procedures or KYC (know-your-customer) as per its directives. Mobile wallet companies are providing reports on a monthly basis to the RBI with information on the number of […]
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Bajaj Finserv comes out with specialized SME and MSME loans
Bajaj Finance Limited, the lending division of Bajaj Finserv, has come out with customized SME and MSME loan solutions. There will be easy eligibility criteria and hassle free, minimal documentation processes. MSMEs and SMEs can easily take loans up to Rs. 30 lakh by providing their registration certificate for the organization and the income tax […]
KYC regulations made more stringent for Indian payments banks
The RBI (Reserve Bank of India) has already issued its notification for the payments banks in the country. The KYC (Know Your Customer) regulations have been made even more stringent. Payments banks are required to ensure that all customers of the mobile phone companies should adhere to KYC norms. KYC, if conducted by any telecom […]
Paytm inaugurates Payments Bank
Paytm Payments Bank has been officially inaugurated by Arun Jaitley, the Union Minister of Finance. This is billed to be the first ever mobile-only bank in the country which will have absolutely zero charges for online transactions and no requirement for minimum balance. This move is aimed at ensuring greater financial inclusion throughout the country. […]
RBI emphasizes on doorstep banking for senior citizens
The RBI (Reserve Bank of India) has directed banks in the country to offer specific doorstep services for the benefit of disabled individuals and senior citizens. Banks have been directed to offer these special services through doorstep banking and dedicated counters at branches. The RBI has stated that complaints have been received from these groups […]
