Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
As part of the probe, the ED has summoned representatives from both companies to appear before its Delhi headquarters on July 21.
A Bangladeshi national, identified as Shariful Islam Shehzad Mohammad Rohilla Amin Fakir, has been arrested in Mumbai for allegedly stabbing actor Saif Ali Khan. The suspect, who had been living in Mumbai for over five months, panicked after seeing his image on news channels and planned to flee to Bangladesh. Police tracked him down after analyzing CCTV footage and digital payment records.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
Mrs Gandhi's power ebbed and peaked with the times. Mr Modi's has almost been constant, barring the few months of hard dip after the 240 seats of 2024, points out Shekhar Gupta.
The sources said that Chaitnaya Baghel was arrested under section 19 of the anti-money laundering as he was allegedly not cooperating during the searches that came about following receipt of fresh evidence in the case.
In 2025 alone, at least 50 suicides linked to online gambling losses have been reported across India. According to FIRs, the victims were addicted to betting, largely driven by cricket, rummy and poker.
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
The first national flag in Independent India was hoisted at Fort St George in Madras, not at Delhi's Red Fort.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
Reserve Bank of India on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app. The central bank has barred Paytm Payments Bank from accepting further credits into its customer accounts and wallets after March 15, 2024.
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
Messaging platform WhatsApp on Wednesday said it has rolled out a pilot program across 500 villages across Karnataka and Maharashtra, aimed at empowering villagers with access to digital payments through 'payments on WhatsApp'. The announcement was made at Fuel For India 2021 - Meta's annual event in India. WhatsApp India Head Abhijit Bose said the pilot aims to effect a behavioral transformation to digital payments at the grassroots.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
The digital transformation should not be confined to a small part of the "human race" and its greater benefits will be realised only when digital access becomes "truly inclusive", Prime Minister Narendra Modi said at the G-20 summit on Wednesday. Modi also strongly pitched for a pledge by the G-20 leaders to work for bringing digital transformation into the life of every human being in the next 10 years so that no person is deprived of the benefits of the new technologies. In a session on digital transformation, the prime minister also said that principle of "data for development" will be an integral part of the overall theme of India's upcoming G-20 Presidency.
The average cost of data breaches in India reached $2.18 million in 2023, marking a 28 per cent increase since 2020, according to the Reserve Bank of India's (RBI) Currency and Finance report for 2023-24. The report said that India's average data breach cost was still below the global average. The most common attacks in India are phishing which was at 22 per cent and stolen or compromised credentials was 16 per cent. The automotive industry is highly vulnerable to cyber attacks, whereas the banking and financial services sector, benefiting from stringent regulations, enjoys comparatively stronger protection.
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
Experts believe that the government needs more innovative ways to secure the cyber space in the country and a cess is more like a punishment which would not help in the long run.
Private sector lender Axis Bank on Wednesday launched the country's first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently. Announcing the 'Wear N Pay' wearable devices brand, Axis Bank said it is the first bank in India to offer such a service. The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release.
After a subdued first quarter of 2025-26 (Q1FY26), banks are now betting big on the festive season, rolling out attractive loan offers to boost credit growth in the second half of the current financial year (H2FY26) - a trend likely to be further accentuated by the second-order effects of the good services tax (GST) cuts.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
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.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth. According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce. "Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels," Gupta said while addressing a session at Razorpay's D2C and Retail Summit recently.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
The Paytm application (app) could potentially face a permanent loss of its integrated mobile wallet feature, currently owned by Paytm Payments Bank (Paytm PB). With the recent crackdown on Paytm PB, sources say getting a fresh wallet licence may get tough for the group. "The Paytm app (One97 Communications) has to apply afresh to the RBI for a licence to operate a prepaid payment instrument (PPI) like a mobile wallet within the Paytm app, as PPI is a regulated entity.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.
In an age where personal data is a valuable commodity, investing in cyber insurance is not just a prudent choice; it is becoming a necessity for individuals and families alike, says T A Ramalingam.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Prime Minister Narendra Modi on Monday said Parliament's Monsoon session is like a 'Vijay Utsav' as the Indian armed forces achieved their objectives under Operation Sindoor 100 per cent, and expressed confidence that the MPs will articulate this sentiment in one voice.
United States President Donald Trump has warned that countries aligning with the BRICS economic bloc will face additional 10 per cent tariffs on their goods, as he seeks to protect the dollar's global dominance.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
As many as 94 per cent of travel and tourism industry leaders consider AI to be critical to their business.
At Rs 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight ended November 4, 2016.
