Payments Banks

Visa results beat Wall Street estimates on resilient consumer spending

Credit card giant American Express also beat expectations for first-quarter profit last week

Payments banks bat for new model, pin hopes on lending licence amid stress

Payments banks can receive deposits of up to ~2 lakh per customer, but cannot lend

Paytm discontinues inter-company ties with payments bank amid RBI scrutiny

Paytm founder Vijay Shekhar Sharma owns 51 per cent of Paytm Payments Bank, while the remaining 49 per cent is owned by One97 Communications Ltd (OCL)

RBI directs private banks to have at least two wholetime directors

Payments banks and local area banks are kept out of the minimum WTD requirements

DICGC asks banks to display its logo, QR code on their websites by Aug 31

Deposit Insurance and Credit Guarantee Corporation (DICGC) has asked all banks to prominently display its logo and QR code on their websites and internet banking portals by August 31 with a view to create awareness about the deposit insurance scheme. Deposits up to Rs 5 lakh in banks are insured by the DICGC. The scheme covers deposits in commercial banks, local area banks (LABs), payments banks (PBs), small finance banks (SFBs), regional rural banks (RRBs), and co-operative banks. In a circular, the Reserve Bank's subsidiary said deposit insurance plays an important role in protecting especially the small depositors, instill confidence in the banking system and maintain financial stability. "With a view to enhance the awareness about deposit insurance in a focused and sustained manner and in consultation with the RBI, it has been decided that all banks registered with DICGC shall henceforth display the logo of DICGC and QR code linked to the DICGC website prominently on their websi

Banks' overnight SDF balances eligible for LCR computation: RBI

Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks

UK's Winvesta offers Indian exporters alternative payment gateway

UK-headquartered Winvesta, a neobank building cross-border banking and wealth management solutions, has launched a foreign payment collections system for Indian exporters.

RBI keeps on hold suggestion to give bank licence to big businesses

The RBI has so far issued eight bank licensing guidelines to harmonise the rules and regulations

Fino Payments Bank's September quarter net rises 74%, revenue up 35%

Its revenue during the reporting quarter was up by 35& YOY to Rs 242 crore from Rs 179 crore in the quarter ended September 2021

Policybazaar's Rs 5.8k-crore IPO to open on Monday: Check details here

The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders

Payments banks' search for right business model

Sandwiched between commercial banks and pure-play payments service providers, payments banks do not enjoy a level playing field

Hike in deposit limit: Payment banks likely to attract bigger clients

Industry sources said banks had made a case for increasing the limit to Rs 5 lakh in line with the hike in deposit insurance cover

Payments banks can now hold max balance of Rs 2 lakh per customer

The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect

Payments banks may also join private banks to offer tax, pension services

The finance ministry has now made it clear that there is now no bar on the RBI's authorisation of private-sector banks to offer government business

Aditya Birla Idea Payments Bank ceased to be banking company: RBI

In November last year, the RBI had said that Aditya Birla Idea Payments Bank was headed for liquidation after the company's application for voluntary winding up

Vodafone Idea to shut m-pesa biz, waives Rs 210 cr to close payments bank

Vodafone Idea CEO Balesh Sharma attributed regulatory changes for the payments bank business and deterioration in health of telecom sector to the decision

RBI Governor to hold meeting with heads of payments banks later this week

The governor said that guidelines on regulatory sandbox will be issued in the next two months to promote FinTech in the country

Letter to BS: Payments bank is falling foul of RBI's guidelines so early

Coming weeks and months are likely to see clearer demarcation between urban and rural oriented payments banks

Here's how payment banks are likely to impact on your financial life soon

By foraying into distribution, forex and digital lending, they are creating more touch points with customers

Heavy set-up costs hurt payments banks' profitability: RBI

Payments banks were created to improve access to formal financial channels or services for small depositors, businesses, low-income households and others, who typically reside and/or work in the rural