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The Reserve Bank of India (RBI) has showcased its innovations — ‘Frictionless Credit’ and ‘Central Bank Digital Currency’ — at the innovation pavilion on the sidelines of the 3rd meeting of Finance Ministers and Central Bank Governors (FMCBG) under India’s G20 presidency here at the Mahatma Mandir Convention Centre. The G20 event is underway in Gujarat’s […]

Gender is the most critical element for Reserve Bank Innovation Hub (RBIH), CEO Rajesh Bansal said offering frictionless access to financial services to every adult woman in India is a national priority. “We have a unique opportunity in India for banks, financial service providers, and fintech firms to offer products to 350 million women. It

Over 10,000 woman entrepreneurs have dispensed more than Rs 900 crore of financial services in the last financial year, according to a report by branchless banking and digital network PayNearby. The report said over 76 per cent of woman customers, who availed basic banking services at PayNearby’s retail outlets, preferred biometric authentication as a mode

Union Bank of India, the country’s fifth largest public sector bank, in collaboration with Reserve Bank Innovation Hub (RBIH), simplified the annual submission of Form 15G & H for its customers by enabling online submission via the Bank’s WhatsApp channel, Union Virtual Connect (UVConn). Union Bank of India customers can avail banking services in 7 different

Digitalisation of KCC is a fintech initiative of the bank in collaboration with Reserve Bank Innovation Hub (RBIH) under guidance of the RBI, aimed at overcoming the challenges faced by farmers like in-person visit to a bank branch, submission of land ownership and other documents, and high turn -around time in getting the KCC.

Rajesh Bansal, CEO, Reserve Bank Innovation Hub spoke exclusively to WION’s Molly Gambhir on the future of fintech. Watch this video to know more.

Private sector lender Federal Bank has teamed up with Reserve Bank Innovation Hub, a subsidiary of the central bank, as scale up partner for the second phase of Swanari TechSprint programme. The programme is aimed at advancing digital financial inclusion for women in India and to create digital solutions for bridging the gender gap. Reserve

The ‘wow’ experience is missing from financial services apps in India and the BFSI sector should focus on providing a Spotify-type experience to users, said the top RBI Innovation Hub official.   Banks apps are cluttered. The wow experience is largely missing. We have found apps in Brazil and Africa having the experience,” Rajesh Bansal,

Over the last thirty years, India has seen strong economic growth. In the last decade, the country has also witnessed rapid advancement and adoption of mobile technology at low data usage cost. However, there remain large sections of the population as well as micro and small businesses that have limited access to essential financial services

Rural finance encompasses a range of financial services offered to rural customers, including farmers, at all income levels. In a country like India, rural credit is closely related to inclusive economic growth, as it caters to the requirements of agriculture and allied activities, ancillary industries, small businesses, etc. At present, the process for getting such