HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it "increasingly challenging" to operate.
September 11, 2023Money remitters are using third-party bank accounts to deliver their money remittance services without advising the bank of this purpose.
August 17, 2023The first MoU will promote the use of local currencies for cross-border transactions. The second is aimed at interlinking India and UAE's payment and messaging systems.
July 17, 2023Stablecoins are only beneficial to linked economies, such as the US and Europe, but not to India, said T Rabi Sankar.
July 14, 2023A coalition of companies has called on the government to require banks to disclose all the costs of international money transfers upfront.
June 19, 2023India's NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.
June 14, 2023Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.
June 13, 2023Report says unbacked crypto assets such as Bitcoin and Ether do not have intrinsic value and pose significant risks to consumers.
May 19, 2023Regulations could be introduced to require FIs to take financial inclusion into consideration in the design of their AML/CFT programmes.
April 26, 2023The RBI and CBUAE will conduct PoC and pilots on a bilateral bridge to facilitate cross-border CBDC transactions.
March 17, 2023