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Merchant Transaction Fee Structure
Fee incentives for merchants using LANKAQR
Primary Sources
Five key areas that the central bank will focus on to further push ...
[CAI MENG/CHINA DAILY] During the 13th Five-Year Plan period (2016-20), the People's Bank of China, the central bank, had concentrated on serving the real economy, preventing and controlling financial risks, and deepening financial reforms. During that period, China's financial industry had further strengthened, steadily improving its ability to promote economic and social development. In the 14th Five-Year Plan period (2021-25), there are five key areas that the PBOC will focus on to push forward financial reforms. Financial adjustment We will strive to improve the system of modern central banking, which requires improvements to the central bank's long-term mechanism for adjusting liquidity, capital and interest rate constraints, and ensuring the growth rates of money supply and total social financing match the nominal GDP growth rates. The central bank will strengthen the rules and transparency of monetary policy operations, through the establishment of an institutionalized Monetary policy communication mechanism, and by effectively managing and guiding expectations. The central bank's interest rate system will adopt the open market operations' interest rates as the short-term policy rates and will make the medium-term lending facility or MLF rates as the medium-term policy rates. Based on that, the so-called interest rate corridor mechanism will be improved, guiding the market interest rates to fluctuate around the central bank's policy rates. The loan prime rate or LPR, a new benchmark of the lending rate, will deepen its reform, which will drive the deposit rate to gradually become market-oriented, so that the central bank's policy rates can be smoothly transmitted to both the lending and deposit rates through changes in the market interest rates. Reforms require strengthening of the coordination of macroeconomic policies, especially for monetary and fiscal policies, to effectively serve the macroeconomic development. That needs to strengthen the overall coordination of monetary policy and employment, and the industrial, investment, consumption, environmental protection, and regional policy fields. The central bank will firmly implement an independent financial budget management system to prevent the monetization of fiscal deficits, and build a "firewall" between the fund sources in terms of the fiscal financing and the central banking. Institutional system In accordance with the principles of market forces, rule of law, and internationalization, a m...
Batanes goes cash-lite powered by LANDBANK, provincial gov't
BASCO, Batanes - LANDBANK, in partnership with the Provincial Government of Batanes, is leading this Province's shift towards a cash-lite economy by expanding access to innovative digital ...
People's Bank supports National QR Payment Adoption Programme
Accelerates Sri Lanka's cash-lite economy Marking a significant milestone in Sri Lanka's digital transformation journey, the National QR Payment Adoption Programme was recently launched with ...
People's Bank embraces Lanka QR payments mode
People's Bank recently received certification from the Central Bank (CB) to launch Lanka QR payments that aims to revolutionize the payments landscape in Sri Lanka. As a bank in the forefront of IT and innovation, People's Bank's digitalisation drive has witnessed a number of ground-breaking digital initiatives being launched in the local market in the recent past. As an extension of this ...
