The Central Board of Direct Taxes is considering a proposal to widen the ambit of the Annual Information Return to cover cash cards issued by non-banking financing companies in the country, official sources said. The AIR currently covers seven kinds of transactions, including cash deposits in savings bank accounts of over Rs 10 lakh in a year, credit card billing of over Rs 200,000 a year and purchase of property over Rs 30 lakhs (Rs 3 million).
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Recently, the central bank has asked online cab service provider Uber to rework its billing system to enable two-step authentication system. Following this, many have dubbed the central bank's decision as regressive.
While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. It was supported by strong growth in gross merchandising value (GMV), higher disbursements and the addition of subscription devices.
As part of Budget 2013-14 proposals, it is considering widening the scope of source-based taxation to more areas to improve reporting mechanism for transactions.
If your loan was rejected because you had just 'settled' your outstanding dues and not 'closed' it altogether, then here's how you can get this loan approved.
Making life easier for people, the Reserve Bank on Thursday allowed holders of pre-paid payment cards, to deposits school and college fees and pay taxes in addition to buying rail and air tickets within the prescribed limit of Rs 10,000.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
"You can download mobile applications provided by banks on your phones and I want to urge political leaders, teachers, youth to give training to people on mobile banking," Modi said.
Many of us have the tendency to just pay the amount due, without caring to give the bill a proper reading.
There are several conditions that banks look at before giving out credit cards. Here's what you must know before applying for a credit card.
Two hundred Malaysians are now among the first in the world to pay for goods and services using their cellular phones which can act as extensions of their Visa credit cards.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
Debit cards may have made it easy for us to forgo carrying any cash. Only, these cards have transactional hazards and are known to have let down their users on occasions.
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
Confused while reading your credit card bills? Here's help.
Do you know what are the pros and cons of using a credit card and/ or debit card? Here's a simple take on which is better and which is not.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
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.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
Hackers in support of WikiLeaks have brought down the websites of credit-card giants Visa and MasterCard in the ongoing cyber-war between sympathisers of the whistle-blower site and firms trying to stifle it.
We cut through the technical jargon and help you understand your credit card bill.
There is no such thing as 'free' credit cards. Most of the charges associated with your card are not even told upfront to you. Knowing about these various fees and charges will put you in good stead and help you use your card prudently.
Karnataka Chief Minister Siddaramaiah on Monday launched payment of cash in lieu of the additional 5 kg of rice to beneficiaries under the government's 'Anna Bhagya' scheme.
In a press note issued earlier in the day, the Raj Niwas officials said Saxena had approved an increase in the adhoc monthly relief to Kashmiri migrants in the national capital from Rs 10,000 to Rs 27,000 per month.
If you are a compulsive credit card user and are at a loss about how to regulate your credit card spend, here is help at hand!
The company has tied up with Axis Bank as its merchant bank to facilitate card transactions in its cabs.
A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services.
Even before the first salary is credited, there is an EMI to be paid.
While managing rising EMIs can be challenging, the right strategy can help individuals can ease their financial burden, says rediffGURU and financial planning expert, Colonel Sanjeev Govila (retd).
Get set for a whole new range of credit cards. Plastic cards will be passe soon. They will be replaced by the next generation of credit cards, which is all set to make its debut!
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
LIC will kickstart its credit card business in September 2008.
State Bank of India partnered GE Capital in 1998 for its credit card business.
Debt trap, credit quicksand, money tangle... credit cards have often been called a number of names by the savvier-than-thou. But used right, they can actually prove to be boons. Here are some benefits of owning the plastic...
'When I called the HR department, they abused me.'
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The more you know about using a new credit card, the more you reap!
