For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
The start of BHIM's declining share coincided with the launch of Google Tez in mid-Septem
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
'In the next 14 years, 100% of US energy will be clean and solar.'
Unified Payments Interface launched to simplify mobile banking.
At a time when the Modi government is attempting to push cashlessness with coercive means, Devangshu Datta explains why cash usage is popular even in nations with good cashless infrastructure.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Companies are innovating with tech tools to ensure that you spend less time at the cash counter.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
The cap of Rs 10,000 on daily withdrawal has also been removed.
The RBI has created a stunted business model by which payment banks are supposed to shoulder the noble objective of financial inclusion without being able to make much money.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
A mobile wallet may offer discounts but allows transactions of limited amounts. And, while a bank app or internet account allows larger transactions, it might be less convenient
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.
'With technology advancing rapidly, the need for branches is declining.'
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
StanChart India CEO Zarin Daruwala is building a culture of 'celebrating liabilities,' the tough negotiator tells Niraj Bhatt and Anup Roy over lunch.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
Watal panel had suggested an independent payments regulator be set up.
'If your data is hacked you cannot go to court. Only UIDAI can go to court.' 'UIDAI is lying that Aadhaar is completely secure.'
New offerings by banks are changing the way you transact.
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