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The Reserve Bank of India (RBI) has introduced a revised and consolidated framework for e-mandates on digital payments, designed to make recurring transactions more seamless while enhancing user control and security. Effective immediately, the updated rules are expected to streamline auto-debit processes, making them more efficient and user-friendly. The move aims to benefit millions of…
Starting November 1, 2025, several key financial and administrative changes will take effect across India, impacting banking, GST, Aadhaar, pensions, and more. These updates aim to simplify processes but may also introduce new charges if not followed in time. Here’s a simplified breakdown of what’s changing and how it affects you. Banking – Multiple Nominees…
The Reserve Bank of India has taken action against another cooperative bank in Maharashtra, ordering its complete closure. Following the decision, thousands of account holders have been unable to access their funds. The RBI cancelled the license of Jijamata Mahila Sahakari Bank in Satara, citing inadequate capital and a lack of earning prospects. The Reserve…
Boston Consulting Group (BCG) in association with FICCI and the Indian Banks’ Association has released a report titled “Banking for a Developed India” at FIBAC 2024. As per the report, India’s ambition to achieve a $30 trillion GDP by 2047 will require a 20 times growth in the financial services sector, with banks playing a…