The Finance Ministry, in consultation with the RBI, has omitted Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, thus effectively including forex spending through international credit cards under the LRS.
The Madras High Court's landmark ruling mandates RBI to ensure Paytm compensates a doctor who lost INR 3 lakh to hackers, raising questions on the liability of digital payment platforms., Technology & Science News, Times Now
In a chat with Moneycontrol, Anil Pinapala, Founder & CEO of Vivifi India Finance, a non-banking financial company, urged people to borrow money only from registered lenders. He lists out ways to check a lender’s credentials.
The Central bank has also proposed several measures to strengthen and improve the efficacy of grievance redress mechanisms and customer service provided by credit bureaus.
Inflation in India remains above the RBI's upper tolerance limit of 6%, reaching 6.52% in January and easing only slightly to 6.44% in February, a key reason for the RBI to hike again.