JAMMU — Jammu and Kashmir has registered over 17.20 lakh unclaimed accounts with an outstanding amount of Rs 465.79 crore, prompting the Reserve Bank of India (RBI) to encourage banks to actively contact rightful claimants of these deposits for the return of funds in a time-bound manner. RBI Regional Director Chandra Shekhar Azad said Jammu […]
NEW DELHI — Paytm’s associate Bank recently received the Reserve Bank of India’s (RBI) directions in response to which Paytm’s Founder and CEO Vijay Shekhar Sharma assured users that Paytm app will continue to work beyond February 29. In a tweet, Vijay Shekhar Sharma said: “To every Paytmer, Your favourite app is working, will keep […]
MUMBAI — In a major action against Paytm Payments Bank (PPBL), the Reserve Bank on Wednesday directed the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29. However, any interest, cashbacks, or refunds may be credited back to customers anytime. The direction follows persistent non-compliances […]
MUMBAI — The rupee breached its seven-day gaining streak and depreciated 4 paise to 83.05 against the US dollar in early trade on Friday as foreign investors rushed to withdraw funds amid a sharp rise in crude oil prices. Despite a weak American currency and surging equity markets, overall sentiment was dented after the US […]
NEW DELHI — The Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation. However, the Rs 2,000 currency notes will continue to be legal tender. The RBI has also advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect. The existing Rs 2,000 currency notes in […]