Under the Regulatory Sandbox (RS) ‘On Tap’ facility on the theme ‘Retail Payments’, Exto India Technologies Pvt. Ltd. successfully completed the Test Phase of its offline digital payment product.

The Governor of the Reserve Bank of India (RBI) held meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks today in Mumbai. The interactions form part of RBI’s ongoing engagement with the senior management of its supervised entities. Deputy Governors Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, and Shri Swaminathan J., along with Executive Directors-in-Charge of Regulation and Supervision, also attended. The previous meeting was held on July 3, 2024.

The Reserve Bank of India (RBI) has published the Payment System Report, December 2024, providing a comprehensive analysis of trends in payment transactions across India over the past five calendar years.

The report covers developments in the payment ecosystem, with a special focus on Unified Payments Interface (UPI), examining usage patterns, growth, and emerging trends in digital transactions.

The International Monetary Fund (IMF) has released the latest Financial System Stability Assessment (FSSA) report for India, based on the 2024 Financial Sector Assessment Program (FSAP) conducted jointly with the World Bank. The report evaluates India’s financial system across banks, non-banking financial companies (NBFCs), insurance, and securities markets, highlighting resilience, regulatory improvements, and areas for further strengthening.

The Governor of the Reserve Bank of India (RBI) today held a meeting with the Chairmen, Managing Directors, and CEOs of select Urban Cooperative Banks (UCBs) from across the country. Representatives from industry bodies, including the National Urban Cooperative Finance and Development Corporation (NUCFDC) and the National Federation of Urban Co-operative Banks & Credit Societies (NAFCUB), also participated.