Proposed rules governing the intraday liquidity facility are being circulated among banks and non-banks.
November 10, 2022MAS proposes that financial institutions collectively cease the issuance of new cheque books to all corporates by end-2024.
November 3, 2022The designation of PESONet and InstaPay as Prominently Important Payment Systems will mean they are subject to closer BSP supervision and monitoring.
July 19, 2022The 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, 2020Currently 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, 2020Hong 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, 2019Transitory 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, 2019Further efforts are needed to reduce paper clearing and improve acceptance infrastructure (e.g. PoS devices) to enhance digital payments.
June 7, 2019Stock 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, 2018Central 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