With vehicular activity picking pace in May, toll collection also saw a huge uptick. Fastags posted an impressive jump of more above 400 per cent in transaction count at 55.17 million, and an over-300 per cent jump in value at Rs 1,142 crore.
'Avoid rushing into any financial transactions or disclosing personal information.'
In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Debt-ridden telecom operator Vodafone Idea has decided to defer payment of additional adjusted gross revenues of Rs 8,837 crore dues by a period of four years. The company in a late night filing on June 22, said that the DoT on June 15, has raised adjusted gross revenue (AGR) demand for additional two financial years beyond 2016-17, which were not covered under the Supreme court order on the statutory dues. Vodafone Idea (VIL) in the filing said that its board of directors "has approved the exercise of the option of deferment of the AGR related dues by a period of four years with immediate effect, in accordance with the said DoT Letter.
Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), made a record in volume and value of transactions in July as digital payments rise in the pandemic. UPI processed a record 3.24 billion transactions in July up 15.7 per cent from June when it processed 2.8 billion transactions. In value terms, in July, the platform processed transactions worth Rs 6.06 trillion, up 10.76 per cent from June.
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
RuPay National Common Mobility Card's offline wallet can be used to make ticket payments in transit, including in metros, cabs, etc, enabling automatic, quick, cashless payments.
Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
The company has already made payments for the spectrum according to rules.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
A packed beyond capacity bus carrying passengers returning to work after Diwali fell into a deep gorge in Uttarakhand's Almora district on Monday, killing at least 36 of the over 60 people on board.
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Vikas Yadav, 39, was employed by the Cabinet Secretariat, which houses India's foreign intelligence service, the Research and Analysis Wing (RAW), the federal prosecutors claimed on Thursday in an indictment filed in a US court in New York.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found "serious deficiencies" in the lender's IT risk management. These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
Insolvency appellate tribunal NCLAT on Tuesday upheld the resolution plan of grounded carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium. The NCLAT bench has directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. Besides, it has also directed the lenders of Jet Airways to adjust the Rs 150 crore paid by the consortium as performance bank guarantee.
The incident took place when around 50 passengers hailing from Kharsia area in the neighbouring Chhattisgarh were returning in the boat after visiting a temple in Patharseni Kuda in Odisha's Bargarh district.
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
Private sector lender ICICI Bank on Monday launched a facility which allows account-holders to transfer funds through Twitter.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
The transition to UPI-based ATMs will be gradual, and consumers will not immediately switch to using standalone UPI ATMs overnight.
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.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Nandan Nilekani talks about moving towards a cashless economy and freedom of Internet, among others
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
India saw growth of around 213 per cent in the number of real-time payments processed over the past year.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances