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E-cheques coming soon? RBI unveils Payments Vision 2028, plans wider oversight of digital players – The Times of India

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E-cheques coming soon? RBI unveils Payments Vision 2028, plans wider oversight of digital players – The Times of India


The Reserve Bank of India (RBI) on Friday unveiled its ‘Payments Vision 2028’ document, outlining a roadmap that includes exploring electronic cheques, expanding regulatory oversight to digital platforms, and strengthening safeguards in the fast-growing payments ecosystem, PTI reported.The central bank said it will examine the introduction of e-cheques to combine the advantages of paper instruments with the speed and reliability of digital payments. “To leverage the unique benefits of paper-based instruments and the speed and reliability of electronic payments, and cater to new business use cases, the introduction of electronic cheques in India shall be explored,” the RBI said.Alongside, the RBI is considering widening the regulatory ambit to include entities such as e-commerce marketplaces and centralised platforms that play a growing role in facilitating digital transactions.“In addition, e-commerce marketplaces and centralized platforms have been assuming significant responsibilities that could have implications on the orderly functioning of the payments ecosystem. These aspects shall be examined in detail and, if required, the scope of direct regulations shall be extended to cover such entities,” the document said.The vision document also proposes allowing users to enable or disable transactions across digital payment modes, similar to controls available for card transactions.To address fraud risks, the RBI is exploring a “shared responsibility framework” under which both the issuing bank and the beneficiary bank would share liability in cases of unauthorised digital transactions.The central bank also plans to review cheque design and security features, introduce a Domestic Legal Entity Identifier (DLEI) framework for better transaction traceability, and bring in a Cyber Key Risk Indicators (KRI) framework for non-bank payment system operators.Other initiatives include exploring white-label solutions in the Aadhaar Enabled Payment System (AePS), developing interoperability in the Trade Receivables e-Discounting System (TReDS), and introducing a ‘Payments Switching Service’ to ease customer migration across platforms.The RBI said it will also review the cross-border payments ecosystem to improve efficiency and streamline authorisation processes, alongside publishing periodic reports on global and domestic payment trends.Additionally, the central bank aims to enhance access to payment data and reimagine the card payments ecosystem by promoting secure tokenisation, improved transparency in pricing, and greater choice for users and merchants.



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Asda boss rejects profiteering claims as petrol price tops 150p

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Asda boss rejects profiteering claims as petrol price tops 150p



Motorists are facing higher fuel prices ahead of Easter break due to the conflict in the Middle East, the RAC says.



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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India

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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India


Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.



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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India

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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India


Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.



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