RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
The last few months have been hard on digital wallets which had a short-lived dream run post-demonetisation.
With the arrival of new players such as Amazon Pay, Google Tez and Flipkart's PhonePe, digital money companies are now changing their business pitch.
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
Sai Manish & N Sundaresha Subramanian offer a fresh perspective on the digital wallet business.
Future Group said customer acquisition costs, fulfilment costs and other expenses in e-commerce add up to 50 per cent of overall business costs, making it unviable
Cricket South Africa on Monday unveiled the Proteas T20 squad's theme song and campaign ahead of the 2016 ICC World Twenty20 tournament which takes place in India next month.
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.
Things are expected to change dramatically in a few years for urban consumers.
BBPS allows you to pay electricity, telephone, water supply, gas and DTH bills. Its scope will be expanded to include other payments like school and university fees, government taxes, insurance premiums, mutual fund investments, even credit card bills.
Sachin Tendulkar is now set to adopt Donja village in Osmanabad, where he will oversee the development of a new school building, a water supply scheme that would provide potable water to each household, concrete roads and a sewage line attached to the same.
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
SBI Cards on Tuesday launched a credit card especially meant for transactions on e-commerce websites.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
When selecting a liquid fund, stick to schemes with an AUM of above Rs 1,000 crore.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
Don't reveal any information to strangers.
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Reliance, Birla Group, Airtel eye small finance banks.
He has driven into the Limca Book of Records twice. Tamanna Naseer finds out more about the battles Eric Paul fights despite being paraplegic.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Today, India is one of the fastest-growing eCommerce markets in Asia/Pacific along with China.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
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