India's government has asked public sector banks to explore consolidating the business they conduct through overseas branches to GIFT City.
May 5, 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, 2023156 containers that were supposed to contain nickel turned out to contain carbon steel, which is worth a fraction of the price.
February 18, 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, 2022The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.
October 20, 2022Russia still has to identify its own corresponding banks to help facilitate trade with India, but this is expected to be announced in the next two weeks.
September 16, 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.
September 6, 2022The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.
September 5, 2022Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
August 23, 2022