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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 2013Acquiring bankBankCommercial bankCredit cardIndiaPoint of SaleReserve 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: cibilCICCredit cardCredit Information CompaniesCredit scoreLoanReserve Bank of IndiaRun 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 BankCanara BankCredit cardFinance MinisterIndiaLoomTextiles MinistryUnited 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 machineCredit cardDebit CardFee (remuneration)June 30 2013Master Circulars 1st July 2013MasterCardSAKAStored-value cardUnited 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: AuthorisedPersonCredit cardForeign Exchange Management ActIndiaIndian rupeeMoney changerRudra Narayan Kar

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