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There will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transactions up to Rs 2,000 in line with the RBI direction. Nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000, it noted. MDR is the cost paid by a merchant to a bank for accepting payment from their customers via credit or debit cards every time a card is used for payments in their stores. The merchant discount rate is expressed in the percentage of the transaction amount. National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks Association (IBA). NPCI Headquarters: Mumbai MD & CEO: Dilip Asbe Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform.
What is the minimum investment required for an investor to participate in an Angel Fund under Category I AIF?
The stage of communication model in which easy and less technical jargons are used before the communication for smooth flow of communication is ______
Consider the following statements related to the Atal Pension Yojana (APY) in India:
1) APY is a social security scheme for the unorganized secto...
As per the RBI’s guidelines for scale based regulation of NBFCs , a NBFC - MFI is required to have _____ net owned funds by March 31, 2027.
Which of the following types of credit risks is most relevant when an MSME has difficulty recovering dues from corporate clients, particularly when the ...
In the context of NBFC financing , which of the following is an example of secured financing ?
A matured term deposit is to be shown under which of the following?
Under the Stand-Up India Scheme, banks are required to provide loans to which category of entrepreneurs?
Which bank has been assigned the Lead Bank Responsibility for the newly formed district of Maihar in the state of Madhya Pradesh?
Which country introduced new 'world first' laws to secure internet connected smart devices against cyberattacks?