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Startups can raise up to $3 mn from foreign lenders, new norms for pre-paid instruments: RBI

Tuesday, October 4, 2016 | More »

The Reserve Bank of India (RBI) will allow startups to raise up to $3 million (Rs 20 crore), everyfinancial year from overseas, it said on Tuesday. The RBI said that startupswill be allowed to raise External Commercial Borrowings (ECBs) in equivalentIndian rupees, any other convertible currency or a...


MobiKwik scraps 6% annual profit scheme

Mobile wallet MobiKwik has scrapped a scheme that promised a so-called annual profit to its users after regulatory intervention, less than a week after announcing the offer. Gurgaon-based One MobiKwik Systems Pvt Ltd had only last week announced a plan to offer 6% annual profit to users who maintain...

7 June, 2016 | More »


Read what P2P lenders have to say about RBI’s proposed norms

The Reserve Bank of India’s (RBI) move to regulate online peer-to-peer lending (P2P) platforms augurs well for the nascent sector but needs greater clarity to ensure they don’t choke the startups that are helping provide funds to those who are outside formal banking channels. P2P lending ven...

26 May, 2016 | More »


Paytm ropes in ex-RBI exec Vipin Surelia for payments bank

In a major move for its proposed payments bank, One97 Communications Pvt Ltd, which runs mobile payments and commerce platform Paytm, has roped in former Reserve Bank of India (RBI) deputy general manager Vipin Surelia as vice president to spearhead its risk and compliance division. Paytm, which rai...

14 April, 2016 | More »


A look at key recommendations of RBI committee on mobile banking

The central bank has been both lauded and criticised by different sections of the industry over its moves related to allowing mobile banking in the country. It had constituted a technical committee under the chairmanship of B Sambamurthy, director, Institute for Development and Research in Banking T...

14 February, 2014 | More »


Virtual nature of Bitcoin raises questions about how its value would be governed: Raghuram Rajan

Reserve Bank of India (RBI) governor Raghuram Rajan expressed concerns over the regulation of digital currency Bitcoin which has suddenly become popular, mentioning that the virtual nature of the currency raises questions about how its value would be governed, according to a Livemint report. While d...

13 February, 2014 | More »


Citizens with no bank accounts may be able to withdraw cash from ATMs, using feature phones

Reserve Bank of India (RBI) governor Raghuram Rajan has said that apex bank is working on a proposal to launch a payment system that will allow the citizens having no bank accounts to withdraw cash from ATMs, using feature phones. The RBI chief has also hinted at a Nasscom conference that some mobil...

12 February, 2014 | More »


Bitcoin traders resume operations on a trial basis amid regulatory concerns

Some Bitcoin traders, who had suspended operations after the Reserve Bank of India’s (RBI) warning against the use of digital currencies, have resumed operations on a trial basis. Those who have resumed operations include BitQuick and Unocoin, while BuySellBitco.in, INRBTC, and Real Bitcoin still ...

15 January, 2014 | More »


Bitcoin operators seek legal clarity on digital currency trading in India

Bitcoin operators in India have sought legal clarity on trading of the virtual currency, in the wake of Reserve Bank of India’s (RBI) warning against the use of digital currencies (including Bitcoin) in the country, according to a PTI report. Bitcoin Alliance India, a Bitcoin traders’ body, ...

6 January, 2014 | More »


Bitcoin traders shut operations after RBI warns against use of virtual currencies

Bitcoin operators in India have temporarily shut down operations after Reserve Bank of India (RBI) issued a warning against the use of virtual currencies, including Bitcoin in the country. Among the ones who have suspended operations include BuySellBitco.in and NRBTC. The development was first re...

27 December, 2013 | More »

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