RBI Places Restrictions on Pratapgarh Co-op Bank
In a move to safeguard depositors and ensure financial stability, the Reserve Bank of India (RBI) imposed significant restrictions on the National Urban Co-operative Bank Ltd., located in Pratapgarh, Uttar Pradesh, on April 15, 2024. This decisive action by the RBI stems from concerns over the bank’s deteriorating financial health. Limited Account Access for Customers […]
Port Restrictions Imposed on Essential Exports to Maldives
Recent reports suggesting a complete halt on essential commodity exports from India to the Maldives caused unnecessary panic. In a surprising move on April 5th, 2024, India’s Directorate General of Foreign Trade (DGFT) announced it would allow the export of essential supplies to the Maldives for the 2024-25 fiscal year. This decision comes amidst ongoing […]
India Post Bank Introduces AePS Service Fees
India Post Payments Bank (IPPB) introduced service charges for Aadhaar Enabled Payment System (AePS) transactions in June 2022. This article details the revised charges, services offered through AePS, and additional functionalities like NEFT/RTGS transactions for IPPB customers. Understanding AePS and Its Services AePS, a bank-led model, allows users to conduct various financial transactions at Point […]