Travellers from India will be able to directly use INR in Sri Lanka. Trade settlements between the two countries can also occur in INR.
July 26, 2023The relative ease with which Russia can accept yuan payments has led to adoption of the Chinese currency for some 10% of payments.
July 12, 2023The service is available in Singapore via DBS and Liquid Group, and in India via Axis Bank, DBS India, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India.
February 21, 2023The RBI will also commence testing of a retail CBDC "within a month" in select locations in "closed user groups comprising customers and merchants".
November 1, 2022At least five Indian banks are reportedly in talks with Singapore's DBS regarding the PayNow-UPI linkage, which was initially meant to launch in July 2022.
September 12, 2022Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
August 31, 2022Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.
June 22, 2022SBI, ICICI Bank and HDFC Bank continue to be identified as D-SIBs, under the same bucketing structure as in the 2020 list.
January 6, 2022Eight banks have joined the account aggregator network, which enables consumers to share financial data with third parties in a safe and secure manner.
September 13, 2021The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.
August 26, 2021