Data processing compliance is the main reason behind the delay. The government, on several occasions, has made it clear that Indian financial data needs to be stored exclusively onshore and if it is processed outside, it needs to be brought back in 24 hours.
Read the numbers carefully because no one can offer a credit card at zero cost or give a loan at a simple interest of 9%.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
One way to bring down the cost is selling off old furniture.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
Gullible bank customers are getting fooled by callers who scare or lure them.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
While Indian IT has known what is coming and has a strategy ready to combat it, the same can't be said about the country and the government.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
With a sole mandate of inflation targeting, RBI wears many hats.
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