Customers of selected banks from India and Singapore will be able to undertake cross-border remittances. At present, there is a daily limit of Rs 60,000 (around SGD 1,000). The Reserve Bank of India (RBI) and the Monetary Authority Singapore (MAS) recently announced the UPI- Pay Now linkage – the real-time payment system linkage between India’s […]

The previous budget 2022 has focused on digital and technology to gear up the banking and finance sector which has helped the sector to scale, better and faster service delivery, ease of access to credit and participation in the financial market. The budget 2023 proposes further measures to continue the digitalization as part to reform […]

The Union Budget 2023 presented in February. The budget was no exception as it rewrapped with old schemes in new avatar. However, finance minister Nirmala Sitharaman has announced five major changes for tax payers. Tax rebate limit is raised to ₹7 lakh from ₹5 lakh. The new tax rates are as below. Income Slab Income Tax Rate […]

Among the chosen 190 countries2, India ranked 63rd in Doing Business 2020(Ease of Doing Business). It means that India is a favorable country for starting up a business. More and more people are working on start-ups. The Government of India is also inspiring to start a business with its various schemes, program, education, workshop, seminar, […]

The Reserve Bank India released a report before start of 2023 on banking frauds that has increased in number terms, but the amount involved more than halved in FY 2021-22. The number of financial frauds rose to 5,406 in the first six months of the financial year 2022-23 compared with 4,069 in the corresponding period […]

Union Finance Minister Nirmala Sitharaman has presented the fifth budget of Modi 2.0. In fact, this is the full budget of the second term of the Narendra Modi government before the general elections next year. The government has envisioned laying a strong foundation to steer the Indian economy. Here we are providing some highlights of […]

The Reserve Bank of India has revised instructions in the circular dated on 18th August 2021 for safe deposit locker/safe custody articles to banks to enter into revised agreements with the existing locker holders by January 2023. However, The Reserve Bank of India has noticed that since many customers are yet to sign the revised […]

The year 2022 was not so momentous but a rollercoaster ride for the Indian Banking Industry due to RBI’s unprecedented aggression on inflation, the arrest of a top banker in a loan scam, and continuing collapse of India’s cooperative banks. 2023 will be a challenging year in many ways for financial institutions such as innovative […]

With the use of technology, the risk of fraud is also increased. When it comes to banking and finance, the digitalization for every service is increasing, and getting an online loan is no exception. However, that is associated with multiple risks. Before installing or using a digital loan app, you should check the authenticity of […]