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RBI working on light weight, portable payment system for critical transactions during catastrophic events

Mumbai: Reserve Bank of India is working on a light weight and portable payment system, a “bunker equivalent in payment systems”, that can be used for critical transactions during catastrophic events like natural calamities and war. The proposed Light weight and Portable Payment System (LPSS) will be independent of conventional technologies and can be operated…

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MFI sector portfolio up 21pc in FY’23

Kolkata: Portfolio size of the microfinance institutions increased by 21.3 per cent to Rs 3.51 lakh crore in the 2022-23 financial year, an industry body said on Tuesday. The portfolio of all microlenders was Rs 2.89 lakh crore by the end of the 2021-22 fiscal. The number of loan accounts in the MFI industry increased to…

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Mamata seeks Central permission to visit Manipur

Kolkata: Expressing her wish to stand by the people of the violence-hit state of Manipur, West Bengal Chief Minister Mamata Banerjee has written to the Centre seeking permission to visit the northeastern state, a senior official said on Tuesday. “The CM has written to the central government seeking permission to visit Manipur. She wants to…

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