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Two new RBI regulations have resulted in this situation.
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Two new RBI regulations have resulted in this situation.
No unsolicited issuance of cards, recovery agents should not harass card holders, and card issuers should not share customer data without consent are some...
Its trade report took aim at RBI's data localisation mandate for the second time in a row.
One such concern was the non-consensual sharing of personal credit card spending data with government agencies.
The finance minister also indicated the government's stance on digital banking and IP-related concerns.
A huge number of Indians have been using feature phones with no efficient way to digitally send and receive money.
The RBI circular mandates financial creditors like Amex to submit information related to debts to an information utility.
The Finance Minister has been pushing banks and other financial entities to join the Account Aggregator network.
The government first announced its plans for a CBDC in January 2021, but the progress has been sluggish.
The CBDC is seen as the RBI's response to the rapid growth in adoption of private cryptocurrencies among Indian investors.
