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RBI allows NBFCs to auction gold pooled from multiple branches

Wednesday, January 22, 2020, 9:58 AM

The RBI allowed non-banking finance companies(NBFCs) engaged in lending against gold to auction gold jewellery pooled from multiple branches in a single district. Earlier, NBFCs were allowed to conduct the auction in the same town or taluka in which the branch that had extended the loan was located. The relaxation in auction rules will be subjected to the condition that the first-auction has failed.
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RBI cancels Certificate of authorization of Vodafone m-pesa

Tuesday, January 21, 2020, 3:59 PM

The Reserve Bank of India on Tuesday said it has cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa on account of voluntary surrender of authorization. Following the cancellation of the CoA, the company cannot transact the business of issuance and operation of prepaid payment instruments, the central bank said. Vodafone m-pesa, a Payment System Operator (PSO), had voluntarily surrendered the authorization, it said.
 
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RBI says crypto not banned, but don't bank on it

Tuesday, January 21, 2020, 10:19 AM

The Reserve Bank of India has said it had not banned cryptocurrencies such as Bitcoin in India, but only ringfenced regulated entities like banks from risks associated with the trading of such virtual-instruments. The central bank said this in a response to a petition filed by the IAMAI, which wanted it to reconsider the 2018 circular directing regulated entities not to deal in cryptocurrencies.

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