The Reserve Bank of India on Friday gave a 15 day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 from the earlier date of February 29. In its release the Central Bank said “No further deposits credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, … Read more
Speaking about RBI’s order against Paytm Payments Bank (PPB), Reserve Bank of India Deputy Governor Swaminathan J. asserted that the action was taken against the fintech player after persistent non-compliance. “We don’t want to discuss details of action on Paytm Payments Bank. This is supervisory action for persistent non-compliance. Such action is invariably preceded by months and sometimes years … Read more
On Saturday (10th February), the Employees’ Provident Fund Organisation (EPFO) recommended a hike in the interest rate on deposits under the Employees Provident Fund (EPF) scheme for the financial year 2023-2024. As per the recommendations, the retirement fund body fixed a three-year high-interest rate of 8.25% on EPF deposits for FY 2023-24. The recommendation to hike the EPF interest … Read more