Indian commercial banks are considering using iris scans for transaction verification, especially for senior citizens, due to reliability issues with fingerprints and thumb impressions. Discussions are ongoing with the Reserve Bank of India and other stakeholders regarding implementation challenges and cybersecurity concerns. Source link
April 2024 bank holidays: Banks in several states across India will be closed on April 17, Wednesday, in observance of Ram Navami, a Hindu festival celebrating the birth of Lord Rama. According to the Reserve Bank of India’s holiday list, banks in states such as Gujarat, Maharashtra, Madhya Pradesh, Orissa, and others will be closed…
Paying in rupees in Thailand soon? Imagine the possibility of using Indian rupees to tip at a beachside bar in Pattaya or a luxurious spa in Bangkok. This scenario could become a reality if India successfully negotiates a currency agreement with Thailand. The Indian government and the Reserve Bank of India (RBI) are exploring the…
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…
NEW DELHI: Paytm Payments Bank’s managing director and CEO Surinder Chawla resigned from the company, as per a regulatory filing on Tuesday. Chawla’s resignation coincides with Paytm Payments Bank facing regulatory action from the RBI.In a regulatory filing, Paytm’s brand owner One97 Communications said, “Surinder Chawla, Managing Director and CEO of PPBL has tendered his…
New Delhi: The Delhi High Court has set aside Union Bank of India‘s decision declaring PP Jewellers (Export) as a ‘wilful defaulter‘, accepting the city-based jewellery exporter’s argument that the bank’s review committee made the decision without hearing the company. The High Court in its recent order granted time to the company to put forth…
