Search Results for: bank fraud

Yesterday was a historic day in Karnataka when Prime Minister Mr Modi visited the sacred town of Dharmasthala and offered his prayers to Lord Manjunatheshwara. The humility with which Mr Modi appeared not only in the temple but also before … Continue reading →

The Payment Instruments industry which consists of many of the mobile wallet operators have raised objection to the recent Master Guidelines issue by RBI on several counts such as a) KYC requirement made more or less mandatory for all Semi … Continue reading →

Under the Master Directions for PPIs (MD-PPI), three types of PPIs are recognized namely a) Closed System PPIs b) Semi-Closed System PPIs c) Open System PPIs Closed System PPIs are those PPIs  which are issued by an entity for facilitating the purchase … Continue reading →

The Prepaid Instrument Eco System in India under the Payment and Settlements Act 2007 has licensed several “Payment System Operators” under the Act. The list of such operators is available here. The list consists of Two Financial Market Infrastructure operators … Continue reading →

On 11th October 2017, RBI came out with a comprehensive “Master Direction” applicable to all Prepaid Payment Instrument Issuers, System Providers and System participants. This was mainly a consolidation of all earlier guidelines. However, it appears that some of the … Continue reading →

This is in continuation of the earlier article The essence of the judgement in the case of Shapoorji Pallonji & Company Private Limited vs State of Maharashtra in the disputed e-Tender rejection case is that An e-tender cannot be denied … Continue reading →