People are already familiar with the stock and equity markets in India. However, the currency market in India is still a subject of confusion
This is largely happening because people withdraw in larger quantities and prefer to hoard, pre-empting medical or any other form of emergencies, which has ultimately increased cash in circulation
Bengaluru-based software company Juspay has assured that its customers' transaction-related data is safe. The data compromised in August 2020’s cyberattack on JusPay did not contain any transaction information, and customers' card numbers and passwords remain secure, JusPay said in a blogpost. According to the blog, the data breach was restricted to an isolated system, and only records of non-sensitive masked card information were infringed. All customers’ full card numbers, order information, card PINs or passwords are secure. The data that was compromised does not contain any transaction or order information, PTI quoted Juspay as saying. Reportedly, 10 crore cardholders’ data was breached in the attack that took place on August 18, 2020. The company, however, termed this as "grossly inaccurate". The company also said that its merchant partners were informed about the cyberattack and it worked with them to take various precautionary measures to safeguard information. In its blogpost, Juspay also said that it is in close contact with relevant government authorities and the Reserve Bank of India regarding this matter. The company is engaged with threat intelligence experts and has invested in enhanced threat-monitoring tools. Further, it has also tightened various internal systems access control protocols.
The Reserve Bank of India (RBI) has decided to build an Automated Banknote Processing Centre (ABPC) in Jaipur to dispatch and store, and for receipt of currency notes.
RBI raises limit for contactless card transactions to Rs 5,000 from Jan 1, NPCI hails the announcement
As a part of its bi-monetary policy announcement, the Reserve Bank of India (RBI) has proposed to increase the limit for contactless card transactions to Rs 5,000 from Rs 2,000 per transaction from January 1, 2021. According to the RBI's statement on developmental and regulatory policies, contactless card transactions and e-mandates on card (and UPI) for recurring transactions have enhanced customer convenience in general while benefitting from increased use of technology. These are also well-suited to make payments in a safe and secure manner, especially during the current pandemic. The recent instructions on disablement of contactless feature on cards and empowering customers to control the limits on their cards have also brought in added safety for users. To further the adoption of digital payments in a safe and secure manner, it is proposed to enhance, at the discretion of the user, the limits for contactless card transactions and e-mandates for recurring transactions through cards (and UPI) from Rs 2,000 to Rs 5,000 from January 1, 2021. Operational instructions will be issued separately. The National Payments Corporation of India (NPCI) has hailed this announcement. In a statement, Dilip Asbe, MD and CEO, NPCI, said “This is a welcome step by RBI to...
At present, the RTGS System is available for customer transactions from 8 am to 6:00 pm in the evening. For inter-bank transactions it is available from 8 am hours to 7:45 pm
The Reserve Bank of India (RBI) has proposed to come out with a mobile application to aid visually impaired persons in identifying Indian currency notes.
Putting speculation to the rest, RBI Governor Urjit Patel has stepped down citing 'personal reasons'.
RBI effect: Big giants falling in line on data localisation, WhatsApp to store payments data in India
WhatsApp which is testing its payment services in India said that it has built a local system to store payments-related data to comply with the RBI’s data localisation requirement.
The level of difficulty in both the shift of RBI Assistant Prelim 2017 Exam was easy. Most of the questions were from syllabus.
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