About two years ago the Times Group launched Wallet365 with a lot of hype only to have it stalled by the RBI. It is now believed to be considering the regularization of internet payment options. An approach paper on the subject is under consideration by the RBI.

In a newly circulated guidelines, Reserve Bank of India (RBI), India’s banking authority, has instructed all banks to include their derivatives on their respective bank balance sheets. According to the new release