Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
The market share of discount brokers - such as Zerodha, Groww, Upstox, and Angel One - has grown fivefold in five financial years, with more than half of the National Stock Exchange's (NSE's) active client trading coming through them, reveals a report by CLSA. For the first 11 months of 2022-23, discount brokers held sway over 57 per cent of active clients, up from 11 per cent in 2017-18. Moreover, the number of active clients on the NSE with discount brokers has grown from just 1 million to 19 million during this period. Active traders are those who have traded at least once in 12 months.
...Is a cultural swaraj under way, wonders Ajit Balakrishnan.
'If Modi is re-elected again, we can forget these things for a long time.'
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
925 million people will suffer chronic hunger this year.
The city's Air Quality Index (AQI) stood at 420 at 8 am on Thursday, compared to 426 at 4 pm on Wednesday. The AQI map prepared by the Central Pollution Control Board showed clusters of red dots (indicating hazardous air quality) spread across the Indo-Gangetic plains.
The announcement comes on the first anniversary of the project.
A 23-year-old physiotherapy intern, who came to be known as "Nirbhaya (the fearless one)", was raped and assaulted by six men inside a bus in south Delhi on December 16, 2012, before being thrown out of the moving vehicle.
Rahul Gandhi thinks his imaginary Congress is the silver bullet; Narendra Modi thinks he himself is the silver bullet; Arvind Kejriwal seems to think that neighbourhood councils are a silver bullet. But none of them is right, says Mihir S Sharma.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
The result is a big blow to the military establishment, revealing the limits of 'political engineering'. It reflected the anger of the electorate, especially its younger voters, who have spoken decisively against the persistent harassment and victimisation of Imran Khan's political party, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The tax department is on a spree to ensure more taxpayers in the country use the PAN card.
Squandering the relief due to rain, Delhi recorded a jump in pollution levels and a smoky haze returned on Monday after people flouted the ban on firecrackers on Diwali night.
'It's dull because this time the election is spread over such a long period.'
My criticism for BCCI was about ticketing, scheduling and not against any individual: Prasad
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
In India the female homicide rate in 2016 was 2.8 per cent, higher than the rate in Kenya (2.6), Tanzania (2.5), Azerbaijan (1.8), Jordan (0.8) and Tajikistan (0.4).
A number of exhibitions at the Bharat Mandapam, the convention centre which will host key G20 summit meetings, will showcase India's technological prowess and innovation, and offer a multitude of unique experiences to the visitors.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
The revision in base year of India's national accounts will increase the size of the economy to Rs 111.7 trillion in FY14, India Ratings (Ind-Ra) said on Wednesday.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
Congress general secretary Digvijay Singh, who had created a stir with his remarks on Hindu terror, attacked the Rashtriya Swayamsevak Sangh yet again at the AICC plenary session at New Delhi on Sunday.
Guterres urged members of the Security Council to press to avert a humanitarian catastrophe and appealed for a humanitarian ceasefire to be declared.
Prime Minister Narendra Modi announced the financial inclusion scheme in his first Independence Day speech last year.
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
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.
It would be ludicrous to expect Modi, Erdogan or Biden to pay to keep blue ticks on their respective official accounts. It would be equally ludicrous to expect the Delhi Metro or the Income Tax Department to pay, points out Devangshu Datta.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
Researchers found that India, along with China and Japan, were the three leading countries in Asia in terms of number of new cases and deaths, where they say cancer has become a more significant public health threat with 94 lakh new cases and 56 lakh deaths in 2019.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
24x7 power supply to farmers emerges as a political lightning rod in the state.
