Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
The service is available not only on high-end Symbian smartphone devices, but also on Nokia's Series 40 feature phones and Series 30 entry level devices. The service is supported by keyboard devices, touch devices and a combination of the two.
There are over 200 million people worldwide who live and work away from their homes and these people, in 2005, remitted over $230 billion.
Salil Dhawan of Investment-Mantra.in evaluates Airtel Money -- a mobile money transfer service started by mobile service operator Bharti Airtel.
The average cost of data breaches in India reached $2.18 million in 2023, marking a 28 per cent increase since 2020, according to the Reserve Bank of India's (RBI) Currency and Finance report for 2023-24. The report said that India's average data breach cost was still below the global average. The most common attacks in India are phishing which was at 22 per cent and stolen or compromised credentials was 16 per cent. The automotive industry is highly vulnerable to cyber attacks, whereas the banking and financial services sector, benefiting from stringent regulations, enjoys comparatively stronger protection.
Under this initiative, ICICI Bank's customers can transfer money anytime and anywhere in the country to people having an account in the bank using their Reliance mobile phones, it said.
From small kiranas to banks to potentially entire FMCG chains all have a digital date with money transfers on cellphones.
Finance Minister Arun Jaitley might next month launch mobile banking services for people not using smartphones.
According to a nation-wide survey on financial behaviour, India has the highest account dormancy rate even more than countries like Kenya, Tanzania, Uganda, Nigeria, India, Pakistan and Bangladesh.
Provisional RBI data for November-December show a steady increase in card usage.
Feature phones still hold the majority of the 270 million handsets market in the country/
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
The mobile payments market has gained traction in recent years, because of factors such as higher penetration of handsets in comparison to coverage of population with banking services and benign regulatory environments.
MMID is a seven-digit number issued by your bank for transactions through mobile banking.
For the last 15 years, Pitroda and Desai's team is working on the technology to pay through mobile phones. Pitroda already has 11 patents with him and some 20 patents related to this technology are pending for registration.
'Right now, politics is operating in a state of suspended animation. That works to Modi's advantage.'
Unified Payments Interface launched to simplify mobile banking.
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During his last visit to India, Khosla had said the focus of Khosla Labs would be to fund innovations around Aadhaar.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
Watal panel had suggested an independent payments regulator be set up.
Chillr App allows users to send money to any contact in phone books.
Over the short to medium term, valuations are more likely to move down than up.
20 inspiring quotes from Indian start-up journeys
Money transfers and merchandise purchases are expected to account for about 71 per cent and 21 per cent respectively, of total transaction value in 2013.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Policymakers should consider the challenges of beneficiary identification, distributor opposition and beneficiary financial inclusion.
Vodafone's Kisan Mitra will provide a spectrum of services for India's small farmers, simple mobile service interventions that can increase a farmer's income by Rs 8,000 per year.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
Fund transfer through Facebook is meant for tech-savvy customers.
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