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DEPARTMENT OF PAYMENT AND SETTLEMENT SYSTEMS
Egg prices in USA artificially spiked? Three producers accused of price-fixing agree to pay $3.3 million, donate 53,000,000 eggsAmerica's egg supply chain is shaken as three major producers agree to a $3.3 million settlement and donate 53 million eggs. Accused of sec...- Global Market: ECB says Target 2 payment system back to normal after brief processing disruptionThe European Central Bank said its Target 2 (T2) payment system resumed normal operations after a brief technical disruption delayed paymen...
- Is enforcement of banking regulations ownership neutral?Bank of Baroda settled a $600 million dispute with NMC Healthcare administrators, ending a protracted legal battle. This significant payout...
- Centre scraps TDS on aircraft lease rentals at IFSCsA significant tax relief has been granted to airlines, with India now exempting tax deducted at source (TDS) on aircraft lease rentals paid...
- EPFO's New PF Rules Explained: Faster withdrawals, three-day settlement and other key changesEPFO Rule Changes Explained: The Centre has revamped EPF rules, promising faster claim settlements within three days for withdrawals and 20...
- Bank of Baroda to pay $600 million to settle NMC Health insolvency claimsBank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of g...
- Americans were told bird flu caused soaring egg prices, then an investigation uncovered these text messages from US egg producers - here's what we know so farEgg price investigation explained: US egg giants are accused of secretly coordinating to inflate prices during the bird flu crisis. Prosecu...
- RBI backs crypto containment and keeps ban on table, officials tell house panelThe Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending that banks and financial institutions...
- Tax department steps up scrutiny of charitable trusts over disclosure mismatchesThe Income Tax Department is intensifying its review of charitable trusts and non-profits, demanding detailed fund utilisation and governan...
- Standard Chartered processes real-time remittance to India in 37 seconds using Swift's new frameworkStandard Chartered has achieved a world first, processing a cross-border remittance to India in a mere 37 seconds using Swift's new retail ...
- Bank of Baroda settles NMC Health dispute for $600 million; Q1 credit grows 17%Bank of Baroda has settled a significant legal dispute with NMC Health entities for USD 600 million, resolving claims under UAE and UK regu...
- MNRE opposes uniform DSM norms for renewable projectsThe Ministry of New and Renewable Energy is pushing for a distinct deviation settlement mechanism for wind and solar projects, arguing they...
- UPI, India's epic odyssey continuesThe immediate benefit to India from the cross-border expansion of UPI is reduction in remittance costs. This is a key concern for a nation ...
- NPCI partners with HSBC India to enable real-time FX settlement for global UPI paymentsExciting news for Indian travelers! A groundbreaking partnership between NPCI and HSBC India is set to streamline international UPI payment...
- UPI transactions moderate to Rs 28.9 lakh crore in June, up 20% YoYUnified Payments Interface (UPI) transactions saw a slight dip in June, reaching Rs 28.9 lakh crore, down from May's record high. Despite t...
- NPCI partners with HSBC India & JP Morgan Payments to enable real-time FX settlement for international UPI paymentsIndia's UPI is set for a global upgrade! The National Payments Corporation of India (NPCI) has partnered with HSBC India and J.P. Morgan Pa...
- EPFO 3.0 promises a digital PF experience, but can it fix years of legacy problems?EPFO 3.0 aims to modernize provident fund services through upgraded technology, faster claim processing, simplified withdrawals, digital re...
- Bitcoin, Solana or XRP? The best performing crypto asset of 2026 so farCrypto prices may have corrected sharply in 2026, but underlying trends suggest growing maturity. Institutional participation, stronger blo...
- Alera Group data breach settlement: Americans could get up to $3,500 in settlement payouts-know who’s eligible and the claim deadlineA significant data breach settlement from Alera Group Inc. offers thousands of Americans a chance for compensation, with a filing deadline ...
- What should Dubai residents know about new ‘flexi rent’ plan that will allow tenants to pay monthlyDubai is revolutionizing its rental system with the 'Flexi Rent' program, allowing tenants to pay rent in monthly, quarterly, or semi-annua...
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