RBI Circular Current Affairs - 2020

What is Positive Pay System for Cheques Payments?

The Reserve Bank of India has introduce  a “Positive Pay System”  that will come into effect from January 2021. The system has been launched to make the cheque payment more secure. The system will make mandatory to re-confirm key details of cheques for the payments beyond Rs 50,000. Key facts As per the new system, Read More…

Banks not to charge for failed transactions, balance enquiry: RBI

Every month banks provide certain number of free transactions at ATMs to their customers and exceeding which charges are imposed. Reserve Bank of India (RBI) has asked banks not to count failed transactions at ATMs due to technical reasons as part of ‘free ATM transactions’ permitted every month. Circular issued by RBI The central bank Read More…