In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
'There was a certain difference that separated him from the rest. That's why his life is so celebrated, his loss is felt globally.'
Dr Bhupendra Sharma will now take over as the nodal officer of pediatric department.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
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.
Going to the bank and using your passbook to find out your bank balance while still available and widely used, technological innovations have brought your bank at your fingertips.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country, RBI said.
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
What has your experience been like? Did you have to wait hours trying to get money from an ATM or bank teller? Did the cash run out before your turn arrived? Did you need to wait hours to exchange your Rs 500/Rs 1,000 notes, only to be told you had insufficient documentation?
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.
Patients and pregnant women, people out to buy essential items, and those travelling to or from railway stations, bus stops and airports will be exempted from the night curfew that kicks in at 11 pm on Monday due to rising COVID-19 cases in Delhi, according to a DDMA order.
A 26-year-old unemployed man, who had been on the run after he allegedly raped and murdered his estranged fashion designer girlfriend in Uttar Pradesh's Noida city, has been arrested from Panvel, the police said on Tuesday.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
Delays in returning money for disputed transactions have also come under RBI's scanner.
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
Besides the convenience that plastic money accords, it also helps the user to keep an easy track of their expenses.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Cheque payments will be safer; the limit for contactless card transactions hiked.
a senior police official told Rediff.com that the Indian Mujahideen may be using Hindu youth for terror activities. "It is a serious matter," the official said.
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
Many PSBs are in the process of rationalisation of ATMs
There is no power, no water supply and shops are refusing to accept cards, even though ATMs have run out of cash, said the Sumy State University student.
In the next few days, use credit/debit cards wherever possible or download your bank's mobile banking app or a mobile wallet.
A suspected SIMI operative and an aide of Indian Mujahideen media in-charge have been arrested from Secunderabad, with police saying that they were allegedly planning to go to Afghanistan to get training from Al Qaeda for carrying out terror activities in India.
Banks, ATMs and quite a few markets were kept open on Sunday while 2.5 lakh sacrificial goats have been made available in the Kashmir valley to help citizens celebrate Eid-ul-Azha with traditional fervour.
A large number of people using cards at PoS Cards being used more frequently Small-ticket transactions Mastercard South Asia head Porush Singh calls these the three key trends for a cashless future. And post-demonetization India, he believes, is steadily moving towards it.
Speculation is rife that the Centre can take draconian steps such as mandatory e-passbooks for all real estate holdings and compulsory checking of every single safe deposit vault.
Since payment alternatives such as UPI, e-wallets and USSD - based mobile banking through different platforms are directly or indirectly linked to the user's bank account one needs to be extra careful to keep hackers at bay, explains Adhil Shetty, CEO, BankBazaar.
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
