Fema / RBI : National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Schem...
Company Law : Currently MCA21 payments are allowed via Credit Card, Internet Banking & Physical Challan. The Ministry has authorized 5 banks (In...
Fema / RBI : High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be ph...
Fema / RBI : Review of Charges for RBI-operated Payment Systems The Reserve Bank levies minimum charges on banks for transactions routed throug...
Fema / RBI : The Reserve Bank of India (RBI) has told banks not to charge more than Rs 5 for any cash deposit made at a non-home branch (other ...
Fema / RBI : The Reserve Bank of India, or RBI, has told a bunch of top bank executives to push the use of electronic transactions among custom...
Finance : One lakh rupees is no longer considered ‘high value’ in banking parlance. Until recently, a cheque amounting to over...
Fema / RBI : High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be ph...
Fema / RBI : RBI introduces a beneficiary account name look-up facility for RTGS and NEFT transactions to help prevent errors and fraud, effect...
Fema / RBI : In order to facilitate smooth settlement of NEFT transactions in the accounts of the member banks maintained with the Reserve Bank...
Fema / RBI : RBI may Mandate banks not to charge savings bank account customers for online transactions in the NEFT system with effect from Jan...
Fema / RBI : Under the overall guidance of the Board for Payment and Settlement Systems, the Reserve Bank over the last few years, has been tak...
Fema / RBI : You are aware that there has been a remarkable growth of customer transactions in RTGS over the years, with currently more than 1,...
High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]
The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers.
