RBI waives off charges on NEFT & RTGS. Cooperative banks go digital. Stress on DHFL highlights funding risk in NBFCs, reports Fitch. Facebook plans to unveil cryptocurrency “Libra” on June 18. Wipro’s Executive Chairman to retire after over 50 years, hands company to this son. Blackstone-Embassy JV to acquire Chairman Gehlaut’s stake in IBREL. ShareChat may raise $100m from Twitter and Hillhouse Capital.
Moving on to the top Business news today:
BANKING
RBI waives off charges on NEFT & RTGS. Cooperative banks go digital.
Waiving Off: RBI is set to remove charges on bank transfers carried out either through National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement System (RTGS), in an attempt to boost digital transactions in the country.
The Central Bank also announced that it is setting up a panel to review charges imposed by banks on ATM withdrawals.
The announcements were made at the end of the RBI's bi-monthly monetary policy meeting.
Staying Relevant: In a bid to stay relevant in the fast changing times, cooperative banks are fast turning to technology, providing a business opportunity for leading information technology service providers.
DHFL