RBI Update – RBI Empowers Cardholders to Choose Their Preferred Network The Reserve Bank of India (RBI) has taken a significant step by introducing a draft circular that allows debit, credit, and prepaid card users to select their preferred card network. This move challenges the current practice of predetermined card network options and aims to…
The Reserve Bank of India (RBI) has requested credit rating firms to identify companies that are withholding important information necessary to assess a borrower’s creditworthiness. This move by the country’s central bank aims to understand the extent of the issue and gather specific details. RBI’s Concern and Information Requirements The RBI is keen to know…
The Reserve Bank of India (RBI) has announced its decision to withdraw the ₹2000 denomination banknotes from circulation, while still maintaining their legal tender status. Effective immediately, banks have been instructed to cease issuing ₹2000 notes. RBI withdraws ₹2000 note from circulation Introduced in November 2016 to address the currency requirement after the withdrawal of…
