Tag: Reserve Bank of India

Breaking News: More than 2,500 fraud connections being cut daily, say DoT officials | Economy & Policy News – Business StandardBreaking News: More than 2,500 fraud connections being cut daily, say DoT officials | Economy & Policy News – Business Standard
News & Events

Breaking News: More than 2,500 fraud connections being cut daily, say DoT officials | Economy & Policy News – Business Standard

The Department of Telecommunications’ (DoTs’) Sanchar Sathi portal is discontinuing more than 2,500 fraudulent connections on a daily basis, officials said on Monday.  The portal, launched last year, is the government's primary tool to protect mobile phone users from frauds.   Sanchar Saathi detects fraudulent connections and triggers re-verification. Failing to reverify, the number is disconnected.  Questions have been raised on the process followed by the government. But the DoT claims the established process of built-in checks and balances has resulted in zero complaints or grievances till date against the portal.    The portal will launch an app version soon. However, the DoT is working on introducing a grievance redress...
Business

Latest: Regulatory action on Paytm Payments Bank, not app, clarifies RBI

The Reserve Bank of India’s (RBI’s) directive issued last month concerns Paytm Payments Bank, not the Paytm app, the banking regulator clarified in a press conference on Thursday. This was after the RBI, after a meeting of its monetary policy committee (MPC), announced the status quo on policy rates earlier in the day. The banking regulator had last month barred Paytm Payments Bank from conducting most of its operations, including deposit-taking and fund transfers, with effect from March 1, over several instances of non-compliance and continued material supervisory concerns. The RBI said it would next week come out with a list of frequently asked questions (FAQs) on the Paytm Payments Bank issue. “This particular action is against the payments bank, not the app. We will cl...
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