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Payment and Settlements

RBI Mobikwik Fine BBPS
FinTech 

Why has RBI issued Rs. 1 Cr fine on Mobikwik & Spice Money?

December 24, 2021December 24, 2021 Rohit Ranjan Praveer 0 Comments Bharat Bill Payment System, fintech, Mobikwik, Payment and Settlements, RBI, Spice Money

The Reserve Bank of India (RBI) has issued a monetary penalty of Rupees 1 crore on Mobikwik and Spice Money.

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sbi crypto exchanges upi
Blockchain & Crypto 

SBI blocks crypto exchanges from receiving funds via UPI

September 16, 2021September 16, 2021 Rohit Ranjan Praveer 0 Comments Crypto Exchange, cryptocurrency, Cryptocurrency Law, Payment and Settlements, RBI, SBI, supreme court

Indian banks have once again started to block transactions related to cryptocurrencies. The State Bank of India (SBI) has reportedly

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RBI tokenisation IoT
FinTech 

RBI extends the scope of tokenization to wearable and IoT devices

August 26, 2021August 26, 2021 Rajat Chawda 0 Comments digital payments, Internet of Things, Payment and Settlements, RBI, Tokenization

On Wednesday, the Reserve Bank of India (RBI) expanded the scope of ‘tokenization’ to include laptops, desktops, wearables such as

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New Umbrella Entity license
FinTech 

RBI puts the New Umbrella Entity (NUE) Framework on hold

August 26, 2021August 26, 2021 Rajat Chawda 0 Comments new umbrella entities, Payment and Settlements, Payment Systems, RBI

The Reserve Bank of India (RBI) has put a hold on the proposed New Umbrella Entity (NUE) framework. The reason

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contactless payments
FinTech 

BENEFIT to power RuPay acceptance at ATM and PoS in Bahrain

August 14, 2021August 14, 2021 Pukhraj Biala 0 Comments BENEFIT, NPCI, NPCI International, Payment and Settlements, Rupay

NPCI International (NIPL) has collaborated with BENEFIT, Bahrain’s leading Fintech and electronic financial transactions company. The collaboration will enable the

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RBI data storage rules
FinTech 

Mastercard submits New Report to RBI seeking overturn of Ban

August 2, 2021August 2, 2021 Pukhraj Biala 0 Comments Data Localisation, Data Storage Rules, fintech, Payment and Settlements, RBI

Global payment tech company Mastercard has submitted a new audit report to the RBI, seeking an overturn of the ban

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RBI data storage rules
Data Protection & Privacy FinTech 

Foreign banks yet to comply with data storage rules RBI issued in 2018

June 1, 2021June 1, 2021 Shuvangi Das 0 Comments Cert-In, Data Localisation, data protection, digital payments, Payment and Settlements, RBI

The Reserve Bank of India has said in a recent communication that many banks are yet to submit system audit

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Payment Systems compliances
FinTech 

RBI relaxes timeline for Payment Systems compliances

May 24, 2021May 24, 2021 Pukhraj Biala 0 Comments fintech, Payment and Settlements, Payment Systems, PPI, RBI

The Reserve Bank of India, through its circular dated 21st May, 2021, has relaxed timeline for a number of payment

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RBI American Express
FinTech 

RBI punishes American Express for violating Data Localisation Guidelines

April 26, 2021April 26, 2021 Rajat Chawda 0 Comments American Express, Data Localisation, Diners Club, fintech, Payment and Settlements, Payment System Operators, Reserve Bank of India

RBI has restricted American Express and Diners club from onboarding new customers. With these restriction from the RBI, American Express and Diners

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Tech Verdicts ✒️

Maridhas Twitter FIR Madras High Court
Tech Verdicts 

FIR against Maridhas for objecting to joy over Gen. Rawat’s death quashed

December 15, 2021December 18, 2021 Rohit Ranjan Praveer 0

The Madras High Court has quashed an FIR against YouTuber Maridhas who objected to the celebration of CDS Bipin Rawat’s

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About Us

My Lawrd is a knowledge portal that attempts to simplify key technology law & policy concepts for the masses.

The portal enjoys good readership from legal and policy professionals, corporate counsels, and students looking for credible, fair, and complete information on a diverse range of sub-topics within the wider technology law domain.

For any grievance:
Mr. Rohit Ranjan Praveer: [email protected]

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