In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
India's e-commerce market is poised to grow by 84 per cent to $111 billion by 2024 on the back of accelerated adoption of digital technologies amid the COVID-19 pandemic, a report by fintech firm FIS said on Wednesday. The report noted that countries, including India, have seen a shift in consumer behaviour caused by COVID-19, and new payment trends are shown to be on the rise. FIS, in its 2021 Global Payments Report, examined current and future payment trends across 41 countries. India's e-commerce market is projected to grow by 84 per cent between now and 2024 to about $111 billion (from about $60 billion in 2020) driven by mobile shopping, which is projected to grow 21 per cent annually over the next four years, the report said.
If your are hassled with too many EMIs, bring them all under one umbrella and pay a single amount
HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Grocery e-commerce platform BigBasket has faced a potential data breach which could have leaked details of its around two crore users, according to cyber intelligence firm Cyble. The company has filed a police complaint in this regard with the cyber crime cell in Bengaluru and is verifying claims made by cyber experts.
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Air India had last year faced about two-month-long strike by its pilots.
What has your experience been like? Did you have to wait hours trying to get money from an ATM or bank teller? Did the cash run out before your turn arrived? Did you need to wait hours to exchange your Rs 500/Rs 1,000 notes, only to be told you had insufficient documentation?
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According to Websense's cybersecurity predictions for 2015, as mobile apps are using auto-login capability these devices will face more attacks from cyber criminals for more credential-stealing or authentication attacks that can be used at a later date.
In the third of the series, Suren Kochchar offers six pointers to help women achieve financial goals. An International Women's Day Special.
DCC is the answer to your currency woes says K Veeraraghavan.
The global study covered 17 countries.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
Mining mogul Anil Agarwal-led Vedanta Resources' credit profile will unlikely be weighed down by the group's planned Rs 1.54 lakh crore foray into semiconductor manufacturing, S&P Global Ratings said on Monday. "This is because the company has reiterated that the $20 billion related investment will be carried out outside of Vedanta Resources. "The business will be undertaken in a separate entity under Vedanta Resources' holding company Volcan Investments Ltd," it said.
The agency acted swiftly on a reference from the government in Bihar, the home state of 34-year-old Rajput, where his family had lodged an FIR against Chakraborty.
While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. It was supported by strong growth in gross merchandising value (GMV), higher disbursements and the addition of subscription devices.
'Make every trip feel like an escape' says the Uber website. Ironically, it remains to be seen how the company can get away from this controversy.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Here are few steps that if followed will put your finances on track and help you live a prosperous life with comfort
Naren from Hyderabad tells us how his family saved money in the lockdown.
Flyers have to download the IRCTC Android-based mobile app - IRCTC Air - from Google Playstore to book tickets.
'The overall stress on asset quality is indeed coming down.'
If you default, it will affect your credit score and your career.
Readers tell us how they are managing without cash since November 8.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Here is what you must not think before buying life insurance, says V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
From opening an account in a local bank to looking for festive and student discounts, here are some surefire ways you can save money on your education trip abroad.
Credit card loans and personal loans are two prime examples of unsecured loans that must always be avoided.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
'Rahul Gandhi is going to turn 54 and in India political leaders peak when they are around 60.' 'This 'bhai-behen ki jodi' has done a wonderful job for the Congress.' 'Priyanka Gandhi was a very effective campaigner.'
