Reserve Bank of India recently clarified the applicability of foreign exchange risk reserve for banks. The requirement does not apply to banks engaging in market-making or proprietary trading. It will also not affect interest on External Commercial Borrowings or dividends payable to non-resident in»»»

The charges, delayed until after Deepavali, could prompt some retailers to encourage other payment methods, even as experts argue they are needed to sustain the fast-growing network. India’s Unified Payments Interface, or UPI, lets people send money to a business or individual instantly - using a m»»»