Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Registering the agreement for sale remains the most reliable way for a homebuyer to secure their legal and financial interests.
HDFC Bank, India's second largest private bank, has signed an agreement with Movida, a mobile payments joint venture backed by Visa and Monitise to introduce a first of its kind mobile payment service.
E-commerce companies have understood the importance of having their own in-house wallet, explaining their acquisition spree, says Manoranjan Mohapatra.
The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
The Income-Tax (I-T) Department has detected widespread tax evasion involving cryptocurrencies and, according to media reports, has issued emails to thousands of defaulting taxpayers seeking transaction details. Investors must understand the tax rules governing crypto assets and respond promptly to these emails.
Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks.
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
The International Monetary Fund (IMF) has said its executive board granted $1 billion in assistance to Pakistan this month after finding out that the country met all conditions and targets for it.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
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.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
'A mule operates someone else's account to transfer illegal money.'
In a temporary reprieve, India will pay for Iranian crude oil in euros through a German bank based in Hamburg, while a permanent solution to the payment issue will be explored at a meeting in Teheran next week.
An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender.
Absconding diamond jeweller Mehul Choksi has been detained in Belgium following an extradition request by Indian probe agencies for his alleged involvement in the Rs 13,000 crore PNB bank loan 'fraud' case, official sources said Monday. The action against the diamantaire was taken on Saturday.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
Making cash payments at bank counters to settle your credit card dues is getting expensive. Credit card issuers led by ICICI Bank and HDFC Bank have started levying a fee on such payments.
Digital payments across the country registered a growth of nearly 29 per cent in a year through March 2022, as per the RBI's latest index that measures the adoption of online transactions. The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021. "The RBI-DPI index has demonstrated significant growth, representing the rapid adoption and deepening of digital payments across the country in recent years," the RBI said in a statement on Wednesday.
A mother and daughter in Punjab are accused of defrauding men by promising marriage and emigration to Canada. The mother allegedly used her daughter's photos and videos to lure victims, collecting large sums of money with false promises of a wedding and relocation.
The biggest risk in under-construction projects is delay and non-completion.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
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.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
In 2025 alone, at least 50 suicides linked to online gambling losses have been reported across India. According to FIRs, the victims were addicted to betting, largely driven by cricket, rummy and poker.
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.
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said regulations should not create unintended barriers to financial inclusion while emphasising that the impact of regulations on individuals and businesses should be considered.
'That way you're not hostage just to US sort of exports to India.'
PhonePe said on Tuesday it has launched a service that will allow the fintech firm's Indian users traveling abroad to pay foreign merchants using Unified Payments Interface (UPI). 'UPI international' supports merchant outlets in UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR (quick response) code. Users will be able to make direct payments in a foreign currency from their Indian bank, like they do with international debit cards.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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SBI will hold 30 per cent in RIL joint venture
In FY24 alone, 1.34 million fraud cases were reported, amounting to losses of Rs 1,087 crore.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
The court said there is nothing on record to suggest that since 2023, Purkayastha was ever called to join the investigations.
In an age where personal data is a valuable commodity, investing in cyber insurance is not just a prudent choice; it is becoming a necessity for individuals and families alike, says T A Ramalingam.
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
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.
