coin vending machines: QR code-based coin vending machines to be launched; what is it and how will it work [ad_1] Shaktikanta Das, in the latest Reserve Bank of India (RBI) MPC meeting, announced that QR code-based coin vending machines in 12 cities soon. This will enhance the ease of access to coins, and distribution of coins using machines, said the ...

RBI Governor Shaktikanta Das continues to bat for policy rate hikes In line with expectations, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday increased the policy repurchase or repo rate by 25 basis points (bps) to a four-year high of 6.5 per cent. The committee retained its stance ...

RBI Loan Penal Charges Review: RBI to review arbitrary penal charges on loans; to release draft guidelines soon [ad_1] The Reserve Bank of India (RBI) today announced that it will issue draft guidelines for transparency in the penal charges or penal interest charged on loans. Currently, the penal amount levied varies within banks and also among NBFCs.The penal charges levied ...

Moderation of pace of rate hikes gives RBI room to assess impact: Das The Reserve Bank of India’s Monetary Policy Committee (MPC) on Wednesday raised the repo rate by 25 basis points to 6.50 per cent in order to bring inflation back towards the central bank’s 4 per cent target. The RBI management, including Governor Shaktikanta Das ...

Mahila Samman Savings Certificate: Who can invest; interest, investment limit, and more [ad_1] [ad_2]

RBI to launch pilot project for QR-based coin vending machines in 12 cities Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the central bank would launch a pilot project on QR code-based coin vending machines (QCVM). These vending machines will dispense coins against a debit to the customer’s account using Unified Payments ...

NPS PRAN: New process to make reclaiming ‘withdrawn but unclaimed NPS amount’ easier [ad_1] With regards to NPS, the Pension Fund Regulatory and Development Authority (PFRDA) has stated that any funds remaining after one month without being transferred to the beneficiary’s bank account will be reinvested in the same PRAN. NPS subscribers can reclaim the withdrawn but unclaimed amount using ...

Rupee appreciates 19 paise to end at 82.51 against US dollar The rupee appreciated 19 paise to close at 82.51 (provisional) against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. A rally in the domestic equity markets and weakness in the greenback against ...

Who are the eligible nominees under EPF, EPS and EDLI [ad_1] With regards to Employees’ Provident Fund (EPF), EPS and Employees’ Deposit-Linked Insurance (EDLI) accounts, nominees get their part of PF accumulations/EDLI and pension payments in the event of a member’s death. This is why nominees are crucial to all savings, insurance, and pension schemes. When joining the Employees’ Provident ...

Ahead of ban order, RBI gave a list of apps working with NBFCs to govt The Reserve Bank of India gave a list of apps, which were working with non-bank lenders registered with the central bank, to the government ahead of the ban imposed on some apps earlier this week, officials said on Wednesday. “We ...