The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Cash withdrawal limits likely to continue
Nearly Rs 3,400 crore (Rs 34 billion) in cash and other items were seized in the elections in 2022-2023, an increase of 835 per cent over 2017-2018.
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
All payments made via debit and credit cards, net banking and mobile wallets will be entitled to discounts.
Watal panel had suggested an independent payments regulator be set up.
Sanjib Jha, CEO, Coverfox Insurance Broking, lists 5 important things to look out for when buying a health insurance policy.
It's been 51 days since Prime Minister Narendra Modi took his 'mitron' by surprise when he announced that Rs 1,000 and Rs 500 would no longer be legal tender. What will the PM tell us on 31/12?
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
The old note will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of bus tickets till December 15
ICICI Bank on Monday said it sees no impact of the Greek debt crisis on the bank as it has no exposure to Europe.
The proposed investment will be made over a period of five years in our India operations, which includes an R&D facility at Pune and another centre at Vadodara.
The Grand Cross of the Legion of Honour given by France is another in a series of top international awards and honours bestowed by various countries on Prime Minister Modi.
Digital payments firm Paytm has earmarked Rs 50 crore for rolling out a cashback program for consumers and merchants to celebrate six years of Digital India, the company said on Friday. Under the offer, Paytm has announced cashbacks for merchants and consumers in India, for every transaction made through the Paytm app. The program will be rolled out in 200 districts across the country with special drives in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh and Telangana.
India's consumer digital economy which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030, according to reports released by consulting firm RedSeer at its flagship event Ground Zero 5.0. The digital economy includes 60 per cent of travel, 40 per cent non-grocery retail, 30 per cent of education, 25 per cent of food and beverages services and 6 per cent of pharma/grocery going through digital channels by calendar year 2030. Online retail is set to become the third-largest market by scale by CY30 with an annual gross merchandise value (GMV) of $350 billion in CY30, said RedSeer.
The prime minister initiated the discussion on the move, which was announced last month, with the ministers after the meeting of the Union Cabinet ended in New Delhi.
Companies are innovating with tech tools to ensure that you spend less time at the cash counter.
536 new malware families and a further 616 new variants affecting the Android platform were detected.
The states will be asked to tap the Centre's JAM trinity.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Why is the government unwilling to disclose the winners of its DigiDhan Yojana?
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.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Nandan Nilekani talks about moving towards a cashless economy and freedom of Internet, among others
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
The coverage for coronavirus infection will be available from day one of the infection in all the health insurance policies, says Amit Chhabra.
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.
Did your employer credit your salary this month? Are you still struggling with cash? Tell us.
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What started as a mere payment delay seems to have grown into a tussle between the government and leading private hospitals, empanelled under the Central Government Health Scheme.
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
The last few months have been hard on digital wallets which had a short-lived dream run post-demonetisation.
Adhiraj Parthasarathy, a professional from Telangana, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
Using the app, bank transfers can be done from/to any bank account, making it easier to make payments at no charge. Even non-KYC Paytm users can avail the facility.
