Their return on assets and fee income could be hit as the Reserve Bank might tighten other norms.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
The size of the Indian financial services market could touch around $340 billion in the next few years.
State-owned Indian Bank on Thursday said it has suspended an official who is accused of wrong doings by an online portal in an expose.
The Sebi, which has been mandated by the Supreme Court to facilitate refund of Rs 24,000 crore (Rs 240 billion) with 15 per cent annual interest to bondholders of two Sahara group firms after ascertaining their genuineness.
Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans.
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
A comprehensive look at one of the most-preferred tax-saving investment option for the salaried class
The government has also announced a slew of measures to ease cash flow for the rural sector.
The Home Ministry said that 'Aadhaar' is strong on ensuring unique identity, 'however, uniqueness of identity is not a necessary condition to ensure authenticity of identity or genuineness of other entries or records of Aadhaar number', sources said.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
Railway passengers can book their tickets and do shopping using RuPay pre-paid debit cards.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
The issue of electoral bonds has snowballed into a political flashpoint after following reports that said the Reserve Bank of India and Election Commission had reservations against them but they were overrule by the Modi government.
Capital market regulator Sebi on Wednesday announced introduction of uniform forms and documents for the purpose of customer identification by different market intermediaries like stock exchanges and mutual funds, a step intended to bring uniformity to the process.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
It might be a cheaper option, but lack of clarity is choking its growth
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
Under the PMGKY scheme, black money holders can deposit unaccounted cash in account which will be subject to 50 per cent tax and 4-year interest free lock-in for the remaining 25 per cent of the amount
The statutory status will provide a legal foundation to Aadhaar.
Telecom Secretary J S Deepak has resolved the toughest issues facing the sector, but his real test will be in delivering on the govt's Digital India dream
Mukesh Ambani said, by March 2017, it will cover 90 per cent of India's population
To participate in an OFS, investors will have to open a trading A/C
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
But mobile wallet companies say many consumers are not ready to give out their PAN
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
According to the committee, single overseas investments of more than 10 per cent in a company should be considered as Foreign Direct Investment while those less than 10 per cent should be classified as foreign portfolio investment.
Market intermediaries, who are constantly on the lookout for avenues to reduce overhead and compliance costs, have found a new tool.
Six months after a Rs 400-crore fraud was detected in its Gurgaon branch, the Reserve Bank of India (RBI) on Monday rapped Citibank for the episode.
Now SEBI registered Mutual Funds would be allowed to accept subscriptions from foreign investors who meet the Know Your Client (KYC) requirements for equity schemes.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
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.
The EPFO launched one-page simplified forms for withdrawal.
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