Discussions are on in government about how to make the process simpler for the poor and more cost-effective for telecom operators, says Subhomoy Bhattacharjee.
In August, the Fed announced that it would develop a "new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States". The Fed Board asked for comments on FedNow by November. In reply to this, Google mentioned its experience of launching Google Pay -- Google's payments app which uses the UPI -- in India.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
DoT plans to initiate move that might lower the revenues telcos share with government.
A confrontation with the Taliban in Kabul in this fading light of a twilight zone would have been sheer madness, observes Ambassador M K Bhadrakumar.
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
Mayer stressed on the transformation of the firm from a technology company to a media, news, entertainment and advertising platform utilising products focusing on search, communications, digital and videos.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Technology, which was responsible for creating the new-age digital consumer issue for enterprises, also acts as a solution to the problem, says Karthick Viswanathan.
Watal panel had suggested an independent payments regulator be set up.
Top officials in key ministries, including finance and IT, are of the opinion that a sensitive payments system such as UPI should not be on a platform whose security is possibly compromised.
New Delhi should resist any temptation to act as spoiler and instead should cooperate with its SCO partners in reaching a regional consensus behind the formation of an interim government in Kabul, argues Ambassador M K Bhadrakumar.
E-commerce companies have understood the importance of having their own in-house wallet, explaining their acquisition spree, says Manoranjan Mohapatra.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Rajeev Chandrasekhar discusses five issues pivotal for the success of Digital India
DoT and the company have not done anything that breached the guidelines mentioned in the notice inviting applications for the auction of the BWA spectrum in 2010, it stated in a reply to CAG's draft audit report.
Universal basic income or social security? Economist Nitin Desai feels we need a blueprint for universal health care and pensions to help the vulnerable section.
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
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.
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Banking as we know it will stand on its head in the next 10 years.
RBI Governor Raghuram Rajan on Friday sounded a word of caution about the new government's 'Make in India' campaign that assumes an export-led growth path of China and said instead it should be 'Make for India' that will produce for the internal market.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
The RBI has created a stunted business model by which payment banks are supposed to shoulder the noble objective of financial inclusion without being able to make much money.
The government is determined to stop generation of black money, he said.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
A provision of Rs 15,000 crore has been made in the budgetary estimate of 2016-17 towards interest subvention.
Surendra Hiranandani -- chairman and managing director, House of Hiranandani -- explains what ails India's housing sector and indicates the way forward.
IT industry hiring big time, but quality concern persists.
While the draft M&A policy for the telecom sector has been revised a few times over the past few months, DoT has not made any major changes to guidelines.
The cap of Rs 10,000 on daily withdrawal has also been removed.
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