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[ad_1] American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a “payment system operator” under the Prevention of Money Laundering Act (PMLA) and has to thus comply with “reporting obligations” under it. Senior counsel appearing for PayPal argued before a bench headed by Chief … Read more
[ad_1] Reserve Bank of India on Thursday announced to increase the transaction payment limit from Rs. 200 to Rs. 500 for UPI Lite in offline mode. UPI Lite was first introduced in September 2022, allowing users to make transactions for a small amount limit in offline mode. Since then, the feature has been adopted by … Read more
[ad_1] The Reserve Bank of India (RBI) is aiming to clock one million transactions in India’s under-trial CBDC, the eRupee, daily by December. In order to accelerate number of CBDC transactions, the RBI is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the eRupee. India has been … Read more
[ad_1] Amazon, earlier this week, made an announcement to allow customers to exchange their Rs. 2,000 notes. The statement came after the Reserve Bank of India on May 19 decided to withdraw all the Rs. 2,000 currency notes from circulation under its Clean Note Policy. The central bank of India has announced that the existing … Read more
[ad_1] Amazon, earlier this week, made an announcement to allow customers to exchange their Rs. 2,000 notes. The statement came after the Reserve Bank of India on May 19 decided to withdraw all the Rs. 2,000 currency notes from circulation under its Clean Note Policy. The central bank of India has announced that the existing … Read more
[ad_1] Amazon customers can now use their Rs. 2,000 notes to top up their Amazon Pay balances during cash-on-delivery orders, as it offers a doorstep solution to ease the stress of exchanging such currency. Customers can deposit cash of up to Rs. 50,000 per month, including notes of Rs. 2,000 denomination, Amazon said. The cash … Read more
[ad_1] Amazon said on Wednesday it will collect soon-to-be-withdrawn Rs. 2,000 rupee notes from customers in India and credit them to online wallets to help people struggling with the exchange process. India’s central bank (RBI) decided last month to withdraw the largest denomination notes from circulation, asking people to deposit or exchange them at banks … Read more
[ad_1] India is planning to introducing its own blockchain-based eRupee CBDC for commercial use. The country is mulling more ways to make this process simple for adoption. On Thursday, May 8, RBI Deputy Governor T Rabi Sankar hinted that existing UPI QR codes could become interoperable with the Indian CBDC in the months to come. … Read more