RBI Security and Risk Mitigation Measures for Card Present Transactions
RBI/2013-14/296 DPSS (CO) PD No.719/02.14.011/2013-14 September 27, 2013 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks Madam / Dear Sir, Security and Risk Mitigation Measures for Card Present Transactions A reference… Read More
Tags: 30 September 2013, Acquiring bank, Bank, Commercial bank, Credit card, India, Point of Sale, Reserve Bank of India
Complaints Against CIBIL
Cases of providing inaccurate Credit Information Reports by CIBIL are reported to the Reserve Bank of India (RBI). The Credit Information Companies (Regulation) Act, 2005 (CIC Act), under which CIBIL functions, has a provision for alterations/corrections or updation of credit information on borrower/client™s request. The prescribed procedures are followed by Credit Information Companies for updation… Read More
Tags: cibil, CIC, Credit card, Credit Information Companies, Credit score, Loan, Reserve Bank of India, Run batted in
Textiles Minister Exhorts Banks to Sort Out Sector Issues
Textiles Minister Exhorts Banks to Sort Out Sector Issues - 70,000 Weaver Credit Cards Issued Sanctioning Rs. 210 Crore Loan In order to ensure the availability of subsidised credit to handloom weavers, Union Textiles Minister Dr. K S Rao met heads of major banks here today. He was informed that around 70,000 weaver credit cards have… Read More
Tags: Andhra Bank, Canara Bank, Credit card, Finance Minister, India, Loom, Textiles Ministry, United Bank of India
Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card operations of banks
RBI/2013-14/60 DBOD.No.FSD.BC. 4/24.01.011/2013-14 July 1, 2013 Ashadha 10, 1935 (Saka) Dear Sir/Madam Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card operations of banks Please refer to the Master Circular No.DBOD.FSD.BC.23/24.01.011/2012-13 dated July 2, 2012 consolidating the instructions/guidelines issued to banks and NBFCs on credit card operations of banks till June 30, 2012.… Read More
Tags: Automated teller machine, Credit card, Debit Card, Fee (remuneration), June 30 2013, Master Circulars 1st July 2013, MasterCard, SAKA, Stored-value card, United States
Money Changing Activities – RBI Clarifications
RBI/2012-13/473 A.P. (DIR Series) Circular No. 96 April 5, 2013 To, All Authorised Persons Madam/ Dear Sir, Memorandum of Instructions governing money changing activities Please refer to Para E 2(ii) of Annex I of {A.P.(DIR Series) Circular No. 57 [A.P.(FL/RL Series) Circular No.04] } dated March 09, 2009 on the captioned subject. 2. On a review, it… Read More
Tags: AuthorisedPerson, Credit card, Foreign Exchange Management Act, India, Indian rupee, Money changer, Rudra Narayan Kar