Finance

In the dynamic world of finance, investment banks play a crucial role in providing insights and recommendations on various countries and markets. Morgan Stanley, a prominent global financial institution, often releases ratings that can significantly influence investor sentiment. We will delve into the meaning and implications of Morgan Stanley's "Overweight" rating for India and "Equal Weight" rating for China. What is an Overweight Rating? An "Overweight" rating is an investment recommendation given by analysts when they believe a particular asset or market is expected to outperform its peers or the overall market. In this context, Morgan Stanley's "Overweight" rating for India suggests a positive outlook on the Indian market, indicating that they believe India's investment prospects ...

Prime Minister Narendra Modi dedicated 75 Digital Banking Units(DBU) via video conferencing on Sunday 16th October. This step has been taken to enhance the financial inclusion in every nook and corner of the country as announced in the Union Budget of 2022-23. What are Digital Banking Units? As the name goes, these units are specialized business units for delivering digital banking products and services as well as servicing existing financial products and services digitally in self service mode. Currently only Commercial banks (other than regional rural banks, payment banks and local area banks) with past digital banking experience are permitted to open DBUs in tier 1 to tier 6 centres In simple terms, you can avail the below services from these DBU's Savings Bank Account (Unde...

A cooperation between NPCI International Payments Ltd (NIPL) and European payment services provider Worldline, will soon enable Indians to make payments through UPI (United Payments Interface) across Europe. The National Payments Corporation of India's global arm is called NIPL (NPCI). According to a Tuesday joint press release, the alliance between NIPL and Worldline aims to increase the adoption of Indian payment methods throughout Europe. By enabling merchant point-of-sale (POS) systems to accept payments from both RuPay, NPCI's proprietary card payment network solution, and UPI, an instant real-time payment system, Worldline will increase convenience for Indian customers in the European markets. As a result of an increase in foot traffic and expenditure from Indian tourists, t...

The Reserve Bank of India has announced that it will not extend the October 1 deadline for the implementation of the card tokenization.The deadline has been extended twice previously. Before October 1, the RBI mandated that all merchants destroy all customer debit and credit card information and switch to using one-of-a-kind tokens instead. It requires masking all sensitive details like 16-digit card numbers, names, expiry dates, and codes with a unique card number called token. The token can be an autogenerated encrypted code like how we see the passwords are stored traditionally across major websites. Except for card issuers and card networks, all parties must abide by this guideline.These regulations allow authorized card payment networks to provide card tokenization services to ...