Latest News for: Banking system


India’s financial sector banks on IDRBT to neutralise threats, beef up security

The Times of India 03 Aug 2021
Prof D Janakiram, director of Hyderabad-based Institute for Development and Research in Banking Technology (IDRBT) this year, speaks to Swati Rathor about the threats facing our banking systems and the work IDRBT is doing to beef up their security ... in their systems.

Earnix Enhances its Rating and Pricing Solutions to Maximize Transparency and Governance

The Marshall News Messenger 03 Aug 2021
Today, , a leading provider of advanced rating, pricing and product personalization solutions for insurers and banks, announced robust enhancements to the rating and pricing system designed to increase transparency, assure compliance, and build consumer trust ... Earnix is a leading provider of mission-critical systems for global insurers and banks.

Explainer: What is e-Rupi, how does it work and who benefits?

Sify 03 Aug 2021
Prime Minister Narendra Modi has unveiled the e-Rupi system ... The Prime Minister in his address shared examples of how the system could be used ... The government subsidies on education, agriculture and nutrition could also be routed via e-Rupi system ... e-Rupi does not need a smartphone, a digital payments app, a card, or even internet banking.

China CB assures liquidity

The Manila Times 03 Aug 2021
A total of 100 billion yuan (about $15.47 billion) was injected into the market via the medium-term lending facility (MLF) last month to maintain liquidity in the banking system at a reasonably sufficient level, according to the People's Bank of China ... in the banking system.

FinTech Platform ChangeFi is Crafting a New Banking Blueprint for Black and Brown America

Vibe Magazine 03 Aug 2021
Unbanked [refers to] the people entirely outside of the banking system ... The ripple effect is, if you’re in the banking system, you have an opportunity to develop credit, you have an opportunity to secure a credit card, and you also don’t pay any additional fees [to access your money] like you would at a check-cashing place.

US banks urged to include Bitcoin, crypto in their plans for this crucial reason

Cryptoslate 03 Aug 2021
Some of the suggested partnerships for the banks include payment systems where a blockchain-powered payment network would allow for faster and more efficient international transactions or how the blockchain technology could be utilized to allow for cheaper and secure lending processes.

Now get salary, pension credited on Sundays and bank holidays

The Times of India 03 Aug 2021
Starting August 1, all the important banking transactions like salary, pension and EMI payments will happen 24X7, as the National Automated Clearing House (NACH) system has been made available on all days, including Sundays and bank holidays ... So far, banks were enjoying the float, where they used the fund in those two days.

Realme launches MagDart, a MagSafe-style wireless charger for its Android phones

Digital Trends 03 Aug 2021
Realme has launched MagDart, a wireless charging system which it says is the first magnetic wireless charger for Android phones ... It hasn’t stopped at the charging disc either, but has also announced a MagDart power bank, a case, a wallet, and even a selfie light that uses the system.

Reserve Bank eyes tighter mortgage lending

TVNZ 03 Aug 2021
The Reserve Bank is consulting on ways to tighten mortgage lending, following an update to the agreement between the Government and the Reserve Bank on addressing housing issues.  ... Robertson said it was "sensible for the Reserve Bank to consult on lending rules designed to ensure the stability and soundness of the financial system".

S&T Bank Live on nCino Platform Across Multiple Lines of Business

Omaha World-Herald 03 Aug 2021
NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that S&T Bank is now live on the nCino Bank Operating System ® ... The nCino Bank Operating System® empowers financial institutions with scalable ...

What is e-RUPI and how does it work? List of banks live with this payment option

Live Mint 03 Aug 2021
Even if one does not have a bank account or a digital payment app or a smartphone can benefit from these vouchers ... InfrasoftTech provides an e-RUPI technology stack to banks by helping them in implementing the technology - right from integration with the existing systems to deployment as per their target beneficiaries.

BoG expands list of institutions to participate in Credit Reporting System

Joy Online 03 Aug 2021
The Bank of Ghana has expanded the list of institutions required to participate in the Credit Reporting System established under the Credit Reporting Act, 2007 (Act 726) ... The Bank of Ghana urged institutions to take steps to comply with the provisions of Act 726 by October 31, 2021.

Iran cenbank launches legal action against Bahrain over confiscated funds

Press TV 03 Aug 2021
The central Bank of Iran ... Central bank ... However, it said that Bahraini banks have refused to return the rest of the funds since then while rejecting CBI’s repeated requests to use them for funding humanitarian missions to help Iran avoid US sanctions targeting its banking system.

India seen holding rates low, clues awaited on normalising liquidity

Reuters 03 Aug 2021
To help the economy through the hard times caused by the pandemic, the RBI has maintained excess rupee liquidity in the banking system with the daily surplus currently exceeding 6 trillion rupees ($80.78 billion) ... "Any RBI action on fine-tuning banking system liquidity as ...

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