RBI

RBI Increases UPI Lite Wallet and Transaction Limits

December 6, 2024

The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit from ₹2,000 to ₹5,000, which aims to encourage digital transactions. The new rules were announced recently and are effective immediately. New Wallet Limit The wallet limit for ..

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India and Maldives Enhance Currency Cooperation

November 23, 2024

The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have recently signed a very important agreement, which aims to facilitate transactions using local currencies. The Indian Rupee (INR) and the Maldivian Rufiyaa (MVR) will now be used ..

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Currency Demand Paradox

June 1, 2023

The currency demand paradox, often referred to as the “paradox of banknotes,” is a phenomenon where the value of banknotes in circulation increases despite a decline in their use for payments. This intriguing trend has been observed in several nations ..

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Lightweight Payment and Settlement System

May 31, 2023

The Reserve Bank of India (RBI) is paving the way for a lightweight payment and settlements system, which it aptly calls a “bunker.” The Purpose of the Lightweight Payment System The RBI envisions the lightweight payment system as a means ..

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RBI gives licenses for 32 payment aggregators

February 16, 2023

Payment Aggregator is a third-party payment solution provider. For instance, you use YONO SBI to shop on Amazon. Therefore, SBI is an online payment aggregator. Recently, RBI issued licenses to 32 payment aggregators to serve as online payment aggregators. This ..

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HARBINGER 2023: RBI announces 2nd global hackathon

February 16, 2023

The Reserve Bank of India recently announced the “HARBINGER-2023”. It is a hackathon. The theme of the hackathon is “Inclusive Digital Services”. Competitors from 22 different countries will participate in the hackathon. This includes Israel, the Philippines, Singapore, Sweden, the ..

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MobiKwik launches UPI Payment with RuPay Credit Card

February 11, 2023

UPI allows users to use multiple bank accounts on the same platform. Till 2022, credit cards couldn’t be used on UPI. In June 2022, the Reserve Bank of India allowed linking credit cards with UPI. Following this, MobiKwik is the ..

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RBI expands scope of TReDS platform

February 10, 2023

The TReDS is Trade Receivables Discounting System. It facilitates finances for MSMEs. The major drawback of the MSME platform is that they are unable to convert the trade receivables into liquid funds. The TReDS mainly addresses this issue. Trade receivable ..

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