Taxmann's Analysis | RBI Unveils Key Regulatory Reforms – Beneficiary Name Look-up for RTGS/NEFT | Hikes UPI Transaction Limits

· Taxmann Publications Private Limited
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About this ebook

This article analyses the latest regulatory and developmental initiatives announced by the Reserve Bank of India (RBI) in its press release dated October 9, 2024. These initiatives, designed to strengthen financial stability and sustainability, span multiple areas, such as payment systems, regulatory reforms, and climate risk management. The key highlights of the proposals include:

‣ Introduction

‣ Beneficiary Name Look-Up Feature for RTGS/NEFT Transactions

‣ Increased Transaction Limits for UPI123 Pay and UPI Lite Wallets

‣ Extension of 'Foreclosure Charge Guidelines' to Micro and Small Enterprises

‣ New Capital Raising Opportunities for Primary (Urban) Cooperative Banks

‣ Establishment of the 'Reserve Bank Climate Risk Information System' Data Repository

‣ Conclusion

Ratings and reviews

5.0
10 reviews
Akash Ahmad
December 20, 2024
good 👍
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Bejoe Sangma
December 19, 2024
Bejoe a sangma
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Kokila ben Lalit bhai
November 20, 2024
lalit bhai Kanti bhai vasaiya
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About the author

At the heart of Taxmann Publications lies the Research & Editorial Team, established from a cadre of Chartered Accountants, Company Secretaries, and Lawyers. This group, operating under the guidance of Editor-In-Chief Mr Rakesh Bhargava, is the cornerstone of Taxmann's commitment to delivering unparalleled content accuracy and reliability.

The team's mission is anchored in the principles of the Six Sigma methodology, with a steadfast goal of eradicating errors and upholding the highest standards of excellence in all publications and research outputs. Their rigorous content development process is informed by core guidelines, ensuring every piece of work is authoritative and insightful. These guidelines include:

• Sourcing – All statutory materials are derived exclusively from authorized and credible sources, guaranteeing the integrity of the information provided

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