The government plans to expand mobile banking services to benefit the common man.
Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes said.
Paying for facilities like issuance of demand drafts, cheque books, credit or debit cards and ATM interchange may soon become passe as public sector lender IDBI Bank on Wednesday waived-off all service charges on current and savings accounts (CASA), the first by any bank.
IndusInd Bank, has recently launched www.themorestore.com only for its credit card and debit card holders
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
ICICI Bank has a network of 1,416 branches and over 4,600 automated teller machines across the country, which it manages by itself, while several other banks have outsourced their ATM management and POS (credit and debit card payment accepting) terminals.
The Reserve Bank of India (RBI) recently said no entity in the card transaction or payment chain, apart from the card issuers and card networks, will be allowed to store sensitive user data from January 1, 2022. Instead, in transactions card data will be converted to tokens.
This facility, initially, will be available at select ATMs in the major centres.
While Visa and Mastercard slug it out for leadership, analysts say RuPay has the potential to cause disruption and eat into their market share.
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
A former model who was one of the accused in a gangster's murder in an alleged fake police encounter in Mumbai was shot dead in a hotel in Gurugram months after she was granted bail, the police said on Wednesday.
RuPay National Common Mobility Card's offline wallet can be used to make ticket payments in transit, including in metros, cabs, etc, enabling automatic, quick, cashless payments.
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.
Online retail is increasing market share rapidly.
But not before the concept clears regulatory roadblocks.
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
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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.
This is the time of year to be most on guard against a host of scams, new and old.
Terming demonetisation as an 'unplanned and unthought process', Vadra wrote, "The government seems to have reached its levels of desperation to overcome the initial blunder it created."
'I need a haircut, but who can I trust with a pair of scissors?', asks Kishore Singh.
Assuming that demonetisation had not happened, the value of notes in circulation this year could have increased to Rs 19.3 lakh crore. But what we have, instead, by the end of August is a 20 per cent lower figure for currency notes in circulation, says A K Bhattacharya.
She was last seen on Jan 20 by her cousin who dropped her off at the St John's University dorm shortly after landing at LaGuardia airport in New York.
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The local police force where Rishi Sunak filmed a social media video in a moving car without a seatbelt on Friday fined the British Prime Minister for the legal breach.
Online theft is a new threat you should be aware of...
More than 60 individuals and entities, an overwhelming number of them Indians, were on Thursday charged by the Justice Department for allegedly participating in a multi-million dollar scam involving call centres based in India which conned thousands of American citizens.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
Plastic counterfeiting and frauds have increased at an alarming rate. So how do you protect yours from being misused?
If real life isn't good enough, try reincarnation into a Second Life.
This is not for the first time that the customers of the bank have faced service outage. In fact, the bank has been penalised by the Reserve bank of India (RBI) for two major outages in the past. In December, the RBI temporarily barred HDFC Bank from launching new digital banking initiatives and issuing new credit cards after taking a serious view of service outages at the lender over the last two years.
The 'severely' spreading virus of the Trojan family has been detected conducting its clandestine operations at the point of sale counters placed at retail terminals after the RBI made it mandatory in December last year for debit cards holders to punch in their PIN every time they make a purchase.
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
While it is a convenient mode of payment, it is not an efficient way of borrowing. Repay your dues fully every month if you decide to use it
Shivaz Rai, owner of a travel agency in Delhi, spent Rs 48,000 on low-cost carrier Air Deccan's Superflier scheme offering coupons for 12 flights to any destination.
