Tag: Reserve Bank of India

Delhi Meat Shop Offers Goods Worth 2100 For Rs 2000 Note, Internet Applauds Marketing Move
24May By adminNo Comments
Health

Delhi Meat Shop Offers Goods Worth 2100 For Rs 2000 Note, Internet Applauds Marketing Move

[ad_1] The Reserve Bank of India (RBI)  recently announced the withdrawal of Rs 2000 notes from circulation, allowing people to exchange or deposit them in their bank accounts by September 30, 2023. Although these notes will remain legal tender until September 30, the news has caused a frenzy on the internet. Memes flooded various platforms, but one meat shop cleverly used this announcement to boost its sales. A Twitter user shared a picture of a message displayed outside the shop, featuring colourful print-outs of the Rs 2000 notes. The message stated, "Give us Rs 2000 note and take goods of Rs 2100 from sardar, a pure meat shop, G.T.B Nagar." The tweet praised the shop owner's innovative advertising strategy, highlighting the smartness of Delhiites compared to the RBI. Take a look at t...
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Zomato’s Take On RBI’s Rs 2000 Note Withdrawal Strikes A Chord With Twitter Users
21May By adminNo Comments
Health

Zomato’s Take On RBI’s Rs 2000 Note Withdrawal Strikes A Chord With Twitter Users

[ad_1] The Reserve Bank of India (RBI) recently announced the withdrawal of Rs 2000 notes from circulation on May 19, 2023. While the banknotes will still remain legal tender, the RBI has advised all banks to provide exchange and deposit facilities until September 30, 2023. After this date, individuals will no longer be able to get their banknotes exchanged. This sudden announcement has left people extremely confused, and they have taken to social media to share their viewpoints, along with hilarious memes. Food delivery application, Zomato, too joined the bandwagon to share their take on the decision, and it has certainly struck a chord with Twitter users.Also Read: Twitter Compares Food Order Costs On ONDC With Zomato And SwiggyZomato took to the micro-blogging platform to share a hila...
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India’s digital rupee fails to excite interest, bankers say
1Dec By adminNo Comments
Technology

India’s digital rupee fails to excite interest, bankers say

[ad_1] A month into India's pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. A month into India's pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. Seven bankers told Reuters that using the e-rupee of the Reserve Bank of India (RBI) was much the same as internet-based banking that users were already satisfied with. The RBI has devised the e-rupee basically as a digital alternative to cash - one using blockchain distributed-ledger technology, to some degree anonymous and most relevant to consumers and retailers. But in the initial trial banks have been using it for settle...
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RBI to launch digital rupee today: Know what it is, how it will work
1Dec By adminNo Comments
Technology

RBI to launch digital rupee today: Know what it is, how it will work

[ad_1] RBI will launch the first pilot for digital Rupee today to test the robustness of the entire process of its creation, distribution and retail usage in real time. Check details here. The Reserve Bank of India (RBI) will be launching the first pilot for digital rupee on Thursday. RBI had earlier on October 31 indicated that the pilot in digital rupee would commence in a month's time. According to the information provided by the RBI, eight banks have been identified for phase-wise participation in this pilot. The first phase will begin with four banks namely- State Bank of India (SBI), ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country.While, four more banks, that is, Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank will join this pilo...
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Killing the fintechs? After India’s digital lending rules setback, firms plan pushback
26Aug By adminNo Comments
Technology

Killing the fintechs? After India’s digital lending rules setback, firms plan pushback

[ad_1] India's stricter digital lending rules have disrupted card services of foreign-backed fin-tech firms and jeopardised loan offerings of Amazon, prompting companies to chart a lobbying pushback, according to industry sources and a document seen by Reuters.Citing concerns over high rates and unfair practices, the Reserve Bank of India (RBI) this month said a loan borrower must deal directly with a bank, dealing a blow to prepaid card providers and shopping websites which act as intermediaries and instantly process deferred loan payments. India's digital lending market has grown quickly and facilitated $2.2 billion in digital loans in 2021-22, with startups attracting foreign backers and giving traditional banks a run for their money in the credit business. The n...
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