The Union government to bear MDR charges to promote digital transactions

To promote digital transactions, the union cabinet has recently decided to bear the Merchant Discount Rate (MDR) applicable on digital payments via debit cards, etc., up to Rs 2,000. The MDR applicable on transactions made through debit cards, the Unified ..

India to host 3rd Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank (AIIB)

India will host the 3rd Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) at Mumbai in June 25-26, 2018. The theme of the meeting will be ‘Mobilizing Finance for Infrastructure: Innovation and Collaboration. For this, ..

OBOPAY secures PPI license from Reserve Bank of India (RBI)

OBOPAY, the global mobile payment solutions company, has recently secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India (RBI) to operate a semi-closed loop wallet in India. Using the PPI license, OBOPAY will solve various ..

5th bi-monthly Monetary Policy Review (MPR) of RBI

The Reserve Bank of India (RBI) has kept the key interest rate “repo rate” unchanged at 6% and reverse repo at 5.75% in its fifth bi-monthly monetary policy review for the year 2017-18 on December 6, 2017, as it feared ..

India’s first crypto-currency exchange “Coinome” by Billdesk

India’s first crypto-currency exchange “Coinome” has been launched by Mumbai-based payment gateway Billdesk. Coinome is incorporated under Hatio Innovations Pvt. Ltd, a wholly owned subsidiary of BillDesk. It will allow users to be on-boarded via Instant e-KYC. It means that ..

Bank of Baroda launches digital Supply Chain Finance solution

The Bank of Baroda (BoB) has launched a digital supply chain finance solution to offer working capital loans to small and medium enterprise and large corporate clients. The solution will cover pre and post shipment products – dealer or channel ..

Axis Bank launches ripple-powered instant payment service for retail and corporate customers

Private sector lender Axis Bank has recently launched instant international payment services using Ripple’s enterprise blockchain technology solution for retail and corporate customers. The bank has launched a service for its retail customers in India to receive payments from RAKBANK ..

Moody’s Investors Service upgrades India’s sovereign ratings

International rating agency Moody’s Investors Service has recently upgraded the Government of India (GoI)’s local and foreign currency issuer ratings to Baa2 from its lowest investment grade (Baa3) and changed the outlook on the rating to stable from positive. Moody’s ..