Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
In a scathing attack on the Opposition for stalling Parliament over demonetisation, Prime Minister Narendra Modi on Thursday alleged they were trying to "rescue the corrupt" like Pakistan gives cover fire to terrorists to cross border and said the note ban will expose the kala dhan (black money) as well as 'kale mann' (ill-intentions) of many.
Young Indian entrepreneurs hope to share some of the limelight too at the Hyderabad event.
After acquiring Grama Vidiyal Microfinance last year, IDFC Bank is looking for opportunities to strengthen its retail capabilities, says Rajiv Lall, its chief,
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
A look at the current contenders International Bank Note Society's Banknote of the Year
To promote cashless transactions, the government had waived the Merchant Discount Rate on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
In 20th edition of his radio programme 'Mann ki Baat', Prime Minister Narendra Modi talked about water conservation, Rio Olympics and other subjects.
The department will impose a penalty, which could be between 30 per cent and 120 per cent.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
More companies with unconventional business models to get into messy legal hassles in India.
The 'SBI -- Mother Dairy SmartChange Card' is first-of-a-kind initiative in the dairy industry and the service is presently available at 76 outlets in NCR region.
It's been 51 days since Prime Minister Narendra Modi took his 'mitron' by surprise when he announced that Rs 1,000 and Rs 500 would no longer be legal tender. What will the PM tell us on 31/12?
On the third anniversary of the Bharatiya Janata Party-led National Democratic Alliance government, Modi thanked the 1.25 crore people of the country for standing by him in every decision his government took.
In the wake of scrapping of old Rs 500/1,000 banknotes, Niti Aayog has asked National Payments Corporation of India to frame a new scheme to incentivise digital payments.
Unique Identification Authority of India (UIDAI) on Monday appealed people to register or update their mobile numbers in Aadhaar for easy access of various government services online.
He said Parliament in the past decades has debated a number of government decisions, which had caused tensions and social conflict, but it was now deadlocked by rival parties over a 'constructive decision' like demonetisation.
Health insurance expert Anil Rego in an online chat with readers answers health insurance queries.
Modi said even a few years ago, when India talked about the threats of terrorism, not many in the world were ready to take it seriously.
The announcement comes on the first anniversary of the project.
The graphics claimed that the Congress was the "top job creator" in the country.
It is not easy for an FMCG brand to make a comeback if it has been out of consumer's reckoning for some time. Moreover, a protracted battle between the owners and then closure of a large number of outlets at one go might have sent some very negative signals to many, says Sneha Bhattacharjee.
RBI data on Dec 2014 showed 1.05 million PoS machines in the country.
How the demonetisation drives in India and Venezuela have played out.
Available evidence suggests that we are on the way to a very costly failure of the current demonetisation scheme, says M R Narayana.
IRCTC used to charge Rs 40 per ticket for bookings in AC classes, Rs 20 per ticket in sleeper class
By April, operational guidelines for the scheme will be finalised and shared with states
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
'Modi's advent has made the mass of Indians realise that there was absolutely nothing wrong or objectionable in proclaiming nationalism as the masthead of the polity and Hinduism as its centerpiece,' says B S Raghavan, the distinguished civil servant.
Even if RBI partially replaces the stock of the high value notes, RBI will have to incur thousands of crores of rupees in cost, say economists.
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.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
Parts of electric cars are costlier and repairing often means replacing an entire system, which drives insurance premium rates up.
The President talked about demonetisation, electoral reforms and disruptions in Parliament.
Accuses foreign-funded competition of 'capital dumping' to capture market, bats for stronger regulations for sector.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Nitin Gadkari has seven portfolios, but does not seem weighed down at all by the many things on his plate. The minister is brimming with ideas...
Fifty-six months on, the government's record in implementing these schemes and projects has been mixed, report Arup Roychoudhury and Indivjal Dhasmana.
