Banks are closed on the second and fourth Saturdays of the month in India as those days are government and national holidays. The bank will be open on the fifth Saturday of a month if the month has five Saturdays.
New Delhi: India’s total digital payment transactions volume increased from Rs 2,071 crore in FY 2017-18 to 13,462 crore in FY 2022-23 at a CAGR of 45 percent.
"With regard to the standing facilities of the Reserve Bank under the LAF (Liquidity Adjustment Facility), we have noticed simultaneous high utilisation of both MSF (Marginal Standing Facility) and SDF (Standing Deposit Facility) by the banks," RBI Governor Shaktikanta Das said while detailing the central bank s monetary policy statement on Friday.
With a robust domestic payments system in place, a central bank digital currency has limited appeal among resident Indians. Where it holds considerable promise is in cross-border payments
India Business News: Kolkata-based UCO Bank has temporarily suspended online Immediate Payment System (IMPS) transfers after experiencing issues where funds from transacti