All posts tagged "cheques"
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251Market InfrastructureBSP Designates Two “Prominently Important” Payment Systems
The designation of PESONet and InstaPay as Prominently Important Payment Systems will mean they are subject to closer BSP supervision and monitoring.
July 19, 2022 -
2.3KFintech / RegtechLack of Electronic Solutions Hindering Capital Market Access: ASIFMA
The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.
December 1, 2020 -
562EnforcementIndia Proposes to Decriminalise Bounced Cheques
Currently in India, bounced cheques can carry a jail sentence of up to two years and a fine up to twice the value of the cheque, or both.
June 16, 2020 -
652Fintech / RegtechMPFA to Complete eMPF Platform Bidding Process by Year-End
Hong Kong’s MPF System relies on cheque settlement, manual handling and paper transactions. The MPFA aims to launch a new 'eMPF Platform' in 2022.
October 9, 2019 -
761AML / KYCRBI Orders Banks to Review Controls on Internal Accounts
Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.
September 16, 2019 -
639India
RBI Publishes Payment Systems Benchmarking Report
Further efforts are needed to reduce paper clearing and improve acceptance infrastructure (e.g. PoS devices) to enhance digital payments.
June 7, 2019 -
512IndiaSEBI Blocks Cash Payments To Stock Brokers
Stock brokers are no longer allowed cash payments either directly or deposited into their bank accounts, as India aims to promote digital payments and a cashless economy.
July 16, 2018 -
748ChinaPBOC Develops Blockchain System to Digitise Paper Checks
Central bank to reduce fraud by tokenising checks with blockchain and having operations conducted by smart contracts; new system will remove manual cross-checking process, shorten transaction times to about 3 seconds.
June 7, 2018
