Business Standard

Reserve Bank partially relaxes restrictions on SBM Bank up to March 15

Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice

Photo: Bloomberg

Photo: Bloomberg

Reuters BENGALURU
BENGALURU (Reuters) - The Reserve Bank of India (RBI) said on Tuesday it had decided to partially relax the restrictions on SBM Bank (India) up to March 15, by allowing ATM and point-of-sale transactions on internationally active debit cards issued by the bank.
Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice.
 
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2023 | 5:57 PM IST

Explore News