One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
'The introduction of a reasonable MDR for large merchant transactions will allow the industry to continue investing in innovation, cybersecurity, grievance redressal, and merchant support, ultimately ensuring that UPI continues to thrive.'
Group term insurance is far more cost-effective than an individual cover.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
'40 percent of voters in Bihar will be excluded.'
The government's stake in Vodafone Idea will more than double to 48.99 per cent as it is set to acquire shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues, the company said in a regulatory filing on Sunday.
The firm chooses UP for payments bank launch in February. Karan Choudhury reports.
The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
Fintech firm One97 Communications, which owns Paytm brand, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, primarily due to continued impact of restrictions on Paytm Payments Bank Ltd. The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company. The consolidated revenue of Paytm declined 33.48 per cent to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Take our quiz and find out how updated you are on current affairs.
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The biggest risk in under-construction projects is delay and non-completion.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
Overall automobile retail sales in India grew a modest 2.95 per cent in April this year to 22,87,952 units with completion of purchases by customers around Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu helping April end on a positive note, Federation of Automotive Dealers Associations said on Monday.
Mastercard is keen on being known not as a payments player but a technology company.
The Chhattisgarh government has decided to set up model fair-price shops (FPS) in each district and encourage owners to act as banking correspondents for providing financial services. The state has around 12,300 fair-price shops across 33 districts. The state government is, however, encouraging FPS owners to provide a host of services besides acting as a banking correspondent.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
'The Election Commission is conducting the National Register of Citizens in Bihar through the backdoor.'
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
In a recent operation, Bihar Police busted a fraudulent scheme operating under the guise of 'All India Pregnant Job Service', which deceived men with promises of substantial payments for impregnating childless women.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
'The hacker replaced original emails and planted fraudulent emails with a request letter and invoices to be paid to fraudulent bank accounts.'
The Union finance ministry will meet CEOs of public sector banks to discuss issues related to cybersecurity in the wake of the Rs 820 crore (Rs 8.2 billion) fraud that hit Kolkata-based UCO Bank last month.
