Banks
RBI Proposes Cash Deposits Via UPI, Expands Digital Payments Scope For Retail
Finance Government News

RBI Imposes Monetary Penalties On 4 Banks For Non-Compliance

The Reserve Bank of India (RBI) took stringent measures against Dhanlaxmi Bank, Punjab and Sind Bank, and ESAF Small Finance Bank, imposing monetary penalties for various non-compliances, on 12 January. The penalties were issued based on identified deficiencies in regulatory compliance, emphasising the need for financial institutions to adhere to prescribed guidelines. Dhanlaxmi Bank faced […]

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India's Diamond Industry Faces Multi-Year Low As Exports Slump 25-30%
Government International News

G7 Tightens Grip, Russian Diamonds Face Import Ban Amidst New Sanctions

In the wake of the Russian invasion of Ukraine, the 12th package of sanctions over the import of Russian diamonds into G7 countries and restrictions on deliveries of diamonds to the European Union came into effect today, Russian News agency TASS reported on Monday. It said in its report that G7 nations announced the introduction […]

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Phonepe's Pincode Streamlines Focus On Food And Ticket Booking On ONDC
Companies Consumer Finance News

PhonePe To Launch Consumer Lending Platform In January 2024

The fintech platform PhonePe is likely to launch consumer lending on its platform by January 2024, according to a report from a leading media house. The Walmart-backed platform is expected to operate as a distributor for personal loans. The fintech is in the final stages of integration with five lenders from banks and non-banking financial […]

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