Delays in returning money for disputed transactions have also come under RBI's scanner.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
Some of their tactics would put a snake oil salesman to shame, says Harsh Roongta.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
Declaring demonetisation a complete failure may turn out to be hasty, argues economist Ashok K Lahiri.
The leaked list contains the name of Union minister Jayant Sinha, who responded by saying that the transactions were not done for any 'personal purpose'.
Any company resident in a country has to pay both indirect taxes as well as Income Tax.
In his order last week, Civil Aviation Secretary K N Srivastava ruled the meanings of transaction fee, commission or convenience fee were the same -- payment of remuneration to an intermediary.
The political economy of the IPO market involves regulators empathising with intermediaries, and designing a bridge that systematically takes wealth away from founders, VC and PE funds, and business houses, explains Ajay Shah.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
The government has also developed a PAN activity monitoring.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
Some private banks offer easier platform to transfer money abroad, like ICICI's Money2World.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
Some investment bankers expect the Indian currency to touch 60-65 by the end of the year
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
Droom has seen aircraft such as the Falcon, Hawk and Cessna being rented.
Safety standards are thrown to the wind as government urges consumers to use mobile wallets at petrol pumps, Shine Jacob & Karan Choudhury/Business Standard report from New Delhi.
The banks argue since the scale of credits is unforeseen, they will have to bear an unknown cost of servicing these accounts.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
The people of the nation co-operated and patiently waited for the government's promised "ache din", and now they want their just rewards, says Adhil Shetty.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
'Even if your phone goes missing for 15 minutes, be warned.' With e-wallets playing a larger role in transactions, these precautions are a must.
'We will see footfall returning to pre-COVID levels by January.'
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
The benefit offered under small-ticket insurance may not be huge, but it is better to have cover, suggests Sarbajeet K Sen.
Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
The Reserve Bank of India's latest data indicate that spending per card is rising steadily - something that consumers should worry about
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
The Nifty ended at 4,605 -- up 148 points. Earlier in the day, the index opened at 4,459 and touched a high of 4,614. The market breadth was extremely positive. Out of 2,794 stocks traded 2,215 advanced while only 517 declined.
Movie theatres may reopen around the second week of July.
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