Ayodhya Is In Incomparable Bliss
This is the fruit of the hard work and sacrifices made by the people of the country for so many years, he said in a series of posts on X.
New Delhi: On the occasion of Ram Navami on Wednesday, Prime Minister Narendra Modi greeted the public and remarked that Ayodhya is experiencing unparalleled joy as this is the first year the festival is being observed there following the dedication of the Ram temple.
He said in a series of posts on X that this is the result of the nation’s citizens’ years of hard labor and sacrifice.
Ram Navami honors the birth of Lord Ram, and a temple was just dedicated in Ayodhya at the site of his alleged birth. Ayodhya Is In Incomparable Bliss
PM Modi said he feels overwhelmed and grateful on this occasion as he along with a huge number of people in the country witnessed the consecration ceremony in Ayodhya. Ayodhya Is In Incomparable Bliss
He said the memories of that moment continue to pulsate within him with the same energy. Ayodhya Is In Incomparable Bliss
Lord Ram is deeply embedded in the hearts of Indians. Ram Navami is also a time to remember and respect those saints and devotees who dedicated their lives to the construction of the temple in Ayodhya, PM Modi said. Ayodhya Is In Incomparable Bliss
The life and values of Maryada Purushottam Bhagwan Ram, I am sure, will serve as a solid foundation for building ‘Viksit Bharat’. “His blessings will give ‘Aatmanirbhar Bharat’ new impetus,” the prime minister declared. Ayodhya Is In Incomparable Bliss
RBI Issues Draft Guidelines On Payment Aggregators
The payments ecosystem in India includes online PAs and PAs, which facilitate face-to-face/proximity payment transactions.
New Delhi : In an effort to bolster the payment ecosystem, the Reserve Bank released draft guidelines for payment aggregator regulations on Tuesday.
The physical point-of-sale operations of payment aggregators (PAs) are also included in the draft.
The RBI stated that the current directions on PAs are proposed to be updated and cover, among other things, merchant KYC and due diligence, operations in escrow accounts, and intended to strengthen the payment ecosystem. This is because of the growth in digital transactions and the significant role that PAs play in this space.
Online PAs and PAs that enable in-person or close proximity payments are part of India’s payments ecosystem.
In terms of KYC and due diligence, the draft stated that payment aggregators should investigate merchants they onboard by conducting due diligence in compliance with the Customer Due Diligence (CDD) guidelines outlined in the 2016 Master Directions on Know Your Customer (MD-KYC).
The draft, on which the RBI has requested feedback by May 31, 2024, stated that “PAs shall ensure that marketplaces they onboard do not collect and settle funds for services not offered through their platform.”
The draft said that, starting on August 1, 2025, no party in the card transaction/payment chain—aside from card issuers and/or card networks—shall store the Card-on-File (CoF) data for in-person or close-quarters card payments.
The proposal further said, “Any such data stored previously shall be purged.
According to the proposal, non-banks offering PA-P services must have a minimum net value of ₹ 15 crore when they apply for authorization from the RBI, and by March 31, 2028, they must have a minimum net worth of 25 crore.
