Now, in many cases, they give no old jewellery but the bills they get show gold as provided by them, the jeweller's making charge and the GST on that.
UPI transactions are growing faster, but wallets remain relevant for those without a bank account and seeking cashbacks.
While mobile wallets are still busy exploring the multiple facets of interoperability, experts believe that bringing in new customers would be costly affair and the numbers of new wallet users might not see a major hike anytime soon.
In DigiLocker, a user can get different government departments to issue documents in digital format. At present, there are 117 such issuers. You can get PAN, Aadhaar, vehicle fitness certificate, vehicle tax receipt, class ten and twelve mark sheets, driving licence, caste certificate, ration card, birth certificate, college degrees and diplomas, marriage certificate, and many more.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
The information containing relevant client details and photograph made available from UIDAI as a result of e-KYC process shall be treated as sufficient proof of Identity and address of the client.
Physical KYC takes anywhere between two to five working days to get done, V-KYC, only a few minutes.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
Fully know your customer-complaint Jan Dhan account holders will be allowed to withdraw Rs 10,000 per month from their account, while limited or Non KYC compliant account holders can withdraw Rs 5,000 per month.
Overseas funds have been spooked by several policy measures taken by the government in the past few years
Now you can check your Aadhaar authentication history online to track if anyone misused your unique identity.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
The recently approved government scheme provides both liquidity and returns.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
The CBDT has begun the process of matching the deposits in accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), or Jan-Dhan accounts, with the profile of the depositors.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
At the time of filling the KYC (Know Your Customer) documents (when joining), do not sign wherever you are asked to. In particular, look closely at the power of attorney (PoA) section, experts tell Sanjay Kumar Singh
Limit your investment in cryptocurrencies and make sure you have current holdings in your own custody until regulatory cloud blows over, experts tell Sanjay Kumar Singh.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
Following the surge in demand, Bitcoin is being quoted on Indian exchanges at 25-28 per cent higher than the international price, reports Rajesh Bhayani.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Don't share information over phone with anyone. Use only official apps. Keep Aadhaar locked unless needed.
The partnership will initially focus on the Future Group fashion brands.
The Home Ministry said that 'Aadhaar' is strong on ensuring unique identity, 'however, uniqueness of identity is not a necessary condition to ensure authenticity of identity or genuineness of other entries or records of Aadhaar number', sources said.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
A Cabinet note is expected to be moved to use Aadhaar numbers for electronic Know Your Customer verification of mobile subscribers.
Based on the holding period, the profit you make is liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.
Railway passengers can book their tickets and do shopping using RuPay pre-paid debit cards.
The IT services company is building underlying tech for connected cars
The use of Aadhaar on Skype Lite and LinkedIn will allow Microsoft to bring on board millions in small towns and rural areas lacking e-mail IDs.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
SC raised questions over the government's decision ordering mandatory seeding of mobile numbers with Aadhaar.
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