A disagreement between mobile operators and device manufacturers over e-SIMs has reached the government with the Cellular Operators Association of India (COAI) asking the DoT to order handset manufacturers to introduce eSIMs, in addition to the physical SIM slot, in all smartphones costing over Rs 10,000. The reason is the unprecedented global shortage of semiconductors which has severely impacted the supply of SIM cards across the globe and pushed up the price by four to five times. The shortage is not likely to improve before 2024.
A former deputy head teacher of a London primary school has pleaded guilty to paying and instructing teenagers in India to abuse younger children.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
West Bengal Chief Minister Mamata Banerjee is arriving in New Delhi on Thursday for a four-day visit during which she is likely to meet senior leaders and attend a Niti Aayog meeting on August 7, sources said.
Use cheques, cards to check black money, says Jaitley.
India and Saudi Arabia on Monday called on states to reject the use of terrorism against other countries and prevent access to weapons, including missiles and drones, to commit acts of terror.
Many placement agencies are fly-by-night operators in New Delhi.
Kanimozhi had challenged a Madras high court order which had refused to dismiss the petition against her.
Missing the deadline for filing Income Tax returns can lead to consequences.
The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation. The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference on Wednesday. The decision was taken during a three-day meeting of the RBI's Monetary Policy Committee (MPC) to review the interest rates in the country. The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent," Das said.
September 13 is the last date to apply for the Common Admission Test 2023. I always recommend to do the registration early on.
Go through the form carefully and be sure about all the data that you are intending to fill in, advises Aashish Sood.
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.
Trinamool Congress general secretary Abhishek Banerjee and several other party leaders were detained on Tuesday night as they held a dharna at the Union Rural Development Ministry office in New Delhi demanding a meeting with the minister and released around three hours later.
Paytm said the global tech giant's move was hypocritical as Google, too, regularly runs similar scratch card campaigns in India under its Google Pay app.
Radio Free Europe reported that the Asian Infrastructure Investment Bank, a Chinese-led development bank, suspended all business with Russia and Belarus on March 3.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Ahead of the state assembly elections due this year-end, Baghel made as many as 15 announcements in his address during the state-level Independence Day function at the Police Parade ground in Raipur.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Ahead of the first due date of advance tax payment on June 15, the government is likely to release guidelines on what will be covered within the ambit of virtual digital assets (VDA). To remove any ambiguity in the recently established tax framework for asset holders, the Central Board of Direct Taxes (CBDT) is currently preparing guidelines, said government officials in the know. The apex direct tax body will define non-fungible tokens (NFTs) and whether or not they fall within the purview of VDA.
HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country's largest private sector lender over the past two years. "RBI has appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulation Act, 1949..., at the cost of the Bank under Section 30 (1-C) of the Act.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
70 per cent of surveyed respondents have experienced job related issues in the past 3 months.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
'A score of 750 and above is considered to be good, though these cut-offs can vary depending on the type of loan being sanctioned,' points out Arun Ramamurthy.
Prime Minister Narendra Modi on Thursday inaugurated and laid foundation stones of development projects worth more than Rs 38,000 crore in different sectors in Mumbai, giving a big push to infrastructure, urban travel and healthcare ahead of civic polls in the city in which the Bharatiya Janata Party and the Eknath Shinde-led Shiv Sena faction will seek to showcase these ventures to take on their political rivals.
GST will now apply to mutual funds, loan instalments and credit card dues.
Uncertainties on account of COVID-19 pandemic have increased the demand for currency notes not only in India but across the globe, official sources said, dismissing the criticism that demonetisation has failed to reduce cash in the economy. Government sources said that growth of the digital payments system post-demonetisation will ultimately curb the dependence on cash. Official data points out a jump in digital payments through different modes, including plastic cards, net banking and Unified Payments Interface (UPI).
'We cannot leave our entire unorganised sector to the vagaries of market forces.'
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.
While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year. Digital payments, especially UPI, saw increased adoption in 2020 due to the Covid-19 pandemic.
What can households do with the old Rs 500 and Rs 1,000 notes? How can they find Rs 100 and smaller denominations?
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
The report said the use of debit cards would allow the ICC Anti-Corruption sleuths to keep trackof all financial transactions during the tournament by players, team and match officials.
The need to maintain people's confidence in digital banking resulted in the action against HDFC Bank for service outages, RBI Governor Shaktikanta Das said on Friday and exhorted lenders to invest more on the technology front.
Adhil Shetty, CEO, BankBazaar.com shares his thoughts on what could help make digitisation and going cashless easier in the New Year.
Asserting that Uttar Pradesh has undergone a complete transformation under his government, chief minister Yogi Adityanath said on Sunday that there have been no riots since 2017, strict action has been taken against the mafia and the state is in the frontline of implementing welfare schemes, ensuring the ease of doing business and fighting the COVID-19 pandemic.
Rahul Dravid showed off his never-seen-before angry side in the new advertisement that has left everyone in splits.
