Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
Semi-high-speed 'Namo Bharat' train services on the 17-km priority section of India's first Regional Rapid Transit System (RRTS) rail corridor will be opened for people from Saturday morning.
The Indian cyber security agency has issued a warning against 'Royal ransomware' virus that attacks critical sectors like communications, healthcare, education and even individuals and seeks pay-off in Bitcoins for not leaking personal data in the public domain.
Barely six months before the Ashes, the England and Wales Cricket Board finds itself in a pay dispute with star players, including skipper Andrew Strauss, who are unhappy with the new central contracts tabled last October.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
Prime Minister Narendra Modi on Friday expressed hope that G20 will draw inspiration from the vibrancy of the Indian economy and work towards bringing back stability, confidence and growth on the global landscape.
In significant push towards a less-cash economy, Prime Minister Narendra Modi on Friday announced starting a biometric payment system using Aadhar platform within two weeks even as he exhorted citizens to adopt digital currency from the new year.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
The addition of a mobile payments service to Apple Inc's next iPhone could help to boost sales of the larger-screen phones and claw back market share lost to mobiles running on Google Inc's Android platform.
The main differences between NEFT and RTGS are the time taken for transfer of funds and in the way it operates.
India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
Liquidity in the banking system has slipped into a deficit for the first time in three weeks, prompting banks to borrow the largest quantum of funds from the Reserve Bank of India (RBI) in around a month and a half. The key catalyst for the sudden tightening in liquidity was due to outflows on account of advance tax payments, which occur towards the end of a quarter. Analysts also cited other factors such as a currency leakage and possible interventions by the RBI in the foreign exchange market, which contributed to the tighter liquidity conditions.
UAE Exchange partners ElectraCard Services to launch 'gocash', which enables cardholders to use appropriate currency loaded on the card.
Ramalingam Kalirajan explains the pros and cons of both investment types.
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
The CAD was brought under control in 2013-14 after government imposed restrictions on import of gold. Following, this in 2014, certain restrictions were withdrawn.
The high-level talks took place in the backdrop of indications that India could buy greater volumes of discounted Russian oil and both sides were keen on having a rouble-rupee arrangement for bilateral trade.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
UIDAI has asked police to investigate, it was not fully convinced about nature of the incident
Benefiting from higher credit off-take and loan repricing, listed commercial banks are expected to post 43.9 per cent year-on-year (YoY) growth in their net profit in the quarter ended June 30 (Q1FY24), analysts have said. Controlled credit costs due to a healthy asset quality profile and a steady treasury book will also support a strong bottom line for the lenders in the first quarter. However, net profit may shrink sequentially, according to analysts' estimates for 13 banks sourced from Bloomberg data.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Available data obscures the true stress in bank books, and the pandemic will result in balance sheet impairments and capital shortfalls at lenders, RBI Governor Shaktikanta Das said on Monday. Balance sheet impairment and capital shortfalls will be more evident once the regulatory reliefs are rolled back, Das said in the bi-annual Financial Stability Report, asking lenders to augment capital.
The RuPay card is accepted at all ATMs (1.6 lakh plus), 95 per cent of PoS terminals (9.45 lakh plus) and most of the eCom merchants (about 10,000) in the country.
The Supreme Court on Tuesday asked the Maharashtra government to apprise it about whether compensation has been paid to the legal heirs of 168 people, who were stated to have gone missing during the 1992-93 communal riots in Mumbai.
The RBI may grant licences for setting up small finance and payment banks by April 2015.
The CBI said the software enables the user to save all required details to book Tatkal tickets beforehand.
'Indian and Iranian sources both confirmed to me that India and Iran are moving ahead to implement a payment system on buying oil from Iran and hope to finalise it very soon,' says Aveek Sen.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
Encore Software has entered into a strategic partnership with Datanet Systems Ltd to develop a unique application that will enable transfer of funds between two countries, using Encore's mobile, hand-held devices and Datanet's properietary smart-card
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
