Benefits of demonetisation come at a heavy price for Fintech firms. They will spend a massive amount on securing and reinforcing their cyber security apparatus this financial year. Karan Choudhury reports.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
Daily wage earners and casual low income group workers were the worst affected
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
Fund transfer through Facebook is meant for tech-savvy customers.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
In the next few days, use credit/debit cards wherever possible or download your bank's mobile banking app or a mobile wallet.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
Readers share their good and bad ATM experiences.
Those evading taxes could soon find tax officials at their doorstep, with a rather insightful account of their big purchases.
Laxman Maake, 47, tells us why he is disappointed with the ATM that he often goes to.
Customers using mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo have been absolved of liability for fraud if it is reported within three days.
Do not trust any incoming phone calls or mails that ask you to install any file or programme, warns Niranjan Upadhye, general manager-fraud risk management, Worldline India.
Some states are taking a legal view on the state GST rate and the compensation rules ahead of the Goods and Services Tax (GST) Council meeting, which is likely to be held in mid-June, said people in the know. While the agenda is still being finalised, several states are likely to take up the matter related to GST compensation and may pitch for its continuation beyond the June 30 deadline. States would like to know how they would divide the compensation collected after June 2022 for payment of principal and interest of compensation shortfall borrowing and arrears to states, sources said.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
Digitisation is changing the banking business. This shift has resulted in a change in banking job profiles.
According to data from Venture Intelligence, PEs invested in two mobile payment solutions firms each in 2009, 2010 and 2011. This grew to four deals in 2012 and five deals in 2013.
World football body FIFA put Jerome Valcke, its second-ranking official, on leave on Thursday just hours after an ex-footballer raised allegations he was involved in a plan to resell 2014 World Cup tickets for a lucrative profit.
India has too many small companies and this is inefficient. It should instead have only a handful of very large players running its economy and these giants can then compete with the world, observes Aakar Patel.
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Banking as we know it will stand on its head in the next 10 years.
'We feel EMI holidays should pick up now.' How travel companies are trying to win customers after demonetisation.
What can households do with the old Rs 500 and Rs 1,000 notes? How can they find Rs 100 and smaller denominations?
With the implementation of the goods and services tax less than 75 days away -- assuming July 1 as the roll-out date -- Sudipto Dey provides a guide to how businesses can navigate the transition.
Akhil Goel tells us how he lost a huge sum of money without even initiating any withdrawal transaction.
Beware, it's not just criminals who want your data!
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
'The investigation is at preliminary stage, therefore, from the available record, it can not be said that there are no reasonable grounds to connect the accused (Rhea) (to the case),' the court observed. The court also said there is possibility of the accused tampering with evidence if released on bail.
Joydeep Ghosh takes stock of personal finances after the life-altering surprises of 2016.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
If there is a morality tale here, it is that debt and death spare no king.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
How does one measure the value of a 'like' in terms of two specific metrics, brand affinity/preference and brand purchase intent/loyalty?
The I-T department expects that some more revenue would be garnered.
Nivedita Mookerji finds out how Paytm CEO Vijay Shekhar Sharma is handling his soaring popularity after the note ban as well as the criticism that comes as a package deal.
Bengaluru resident Krishnan H tells us about a State Bank of India ATM counter where most of the machines are dysfunctional.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
