Delhi HC: Writ Petition Not Maintainable Against Provisional Attachment When PMLA Remedy Exists  ||  Rajasthan HC: Magistrate Can’t Order Secured Creditor to Pay Police Expenses For Asset Possession  ||  Orissa HC: Court Can’t Permit Intervenors Without Reason or Compel Plaintiff to Join Unrelated Party  ||  Delhi HC: Section 498A IPC Applies Even if Marriage is Later Declared Invalid  ||  AP HC: State Can’t Cite Financial Constraints to Withhold Gratuity, Denying Retirees Violates Art 21  ||  Madras HC: Marriage Does Not Grant Men Absolute Authority, Woman’s Endurance is Not Consent  ||  Delhi HC: Ordinary Marital Friction or Taunts Do Not Constitute Cruelty under Law  ||  Punjab & Haryana HC: Family Property Disputes Cannot Be Resolved under Maintenance of Parents Act  ||  Delhi HC: Bribe Profits Invested in Shares Are Proceeds of Crime and Attachable under PMLA  ||  Delhi HC: 'No Coercive Steps' Does Not Mean Stay or Suspension of Investigation    

Linking of SWIFT to the Core Banking System- (Press Information Bureau) (22 Mar 2018)

MANU/PIBU/0584/2018

Banking

Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para 75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-a-vis other emerging economies and to focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs. The first meeting of committee was held on 10.3.2018.

Reserve Bank of India (RBI) has informed that it has reiterated its instructions regarding "Cyber Security Controls - SWIFT" and "Cyber Security Controls - frauds related to trade finance transactions - misuse of SWIFT", and mandated banks to implement the prescribed measures for strengthening the SWIFT operating environment in banks within the stipulated deadlines. These instructions aim to strengthen SWIFT-related operational controls and reinforce fraud prevention and detection frameworks in place in banks, with a view to avoid misuse of SWIFT.

Tags : SWIFT   LINKING   BANKING SYSTEM  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved