Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
IRCTC to restore service charges on e-tickets from Sep 1; Rs 15 for non-AC, Rs 30 for AC classes.
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.
Even investors with sums as low as Rs 1,000 per month can start their investment journey.
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
All payments made via debit and credit cards, net banking and mobile wallets will be entitled to discounts.
Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
Sectoral cyber security teams to be set up to curb attacks, cyber coordination centre likely be set up in New Delhi by June.
Ronnie Screwvala-led edtech unicorn upGrad, has filed a suit for trademark infringement against another EdTech company called Scaler. The suit has been filed in the Delhi high court for violation of intellectual property relating to upGrad's trademark. It has also sought damages of more than Rs 3 crore. upGrad accused Scaler of using its brand name 'upGrad' through Google Ads to appear on top of search results on Google Search Engine and in turn gaining illicit benefit.
'We have lived through 10% plus inflation in India and we are aware of the economic pitfall.' 'With the RBI now having formally adopted an inflation target range, they cannot turn a blind eye to the impending risks.'
The PM asked people to pay school fees, buy medicines or items from fair price shops or purchase air and train tickets digitally.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
A strong business update for the April-June quarter of the 2023-24 financial year Q1FY24 has led to a big jump of over 7 per cent in the share price of Bajaj Finance on Tuesday (July 4). The non-banking financial company's (NBFC's) new loan book grew 34 per cent with 9.9 million new loans booked in Q1FY24 from 7.2 million loans booked in Q1FY23. The company's total customer franchise rose to 72.98 million (as on June 30, 2023), compared to 60.30 million year-on-year (YoY) with the highest-ever quarterly increase of 3.84 million in Q1FY24. Assets under management (AUM) grew by 32 per cent to about Rs. 270,050 crore in Q1FY24 from Rs. 204,018 crore in Q1FY23.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
Shiva Kumar, 49 from Bangalore shares some tips to maintain hygiene.
The average ticket size observed in jewellery retail dipped by 66 per cent to Rs 3,625 for Dhanteras and Diwali, while the same for apparel stores dipped 28 per cent to Rs 1,746.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
More than 100 million new users added in just one year; mobile internet usage seen as next frontier.
Tripti Rai explains the unique features of Bharat Interface for Money (BHIM) app developed by the National Payment Corporation of India.
Since payment alternatives such as UPI, e-wallets and USSD - based mobile banking through different platforms are directly or indirectly linked to the user's bank account one needs to be extra careful to keep hackers at bay, explains Adhil Shetty, CEO, BankBazaar.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
As you swipe your credit/debit card with carefree abandon at merchant outlets, banks are losing money to the tune of Rs 3,800 crore annaully, says Soumya Kanti Ghosh
... and I learn more about economic trends than from books, says Ajit Balakrishnan.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
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
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
'When resources are few; when frugality demands repairing a broken thing rather than replacing it with a brand new and expensive option, enterprising commoners in rural and urban India improvise on a daily basis and solve their problems with whatever they have,' observes Shivanand Kanavi.
Paytm CEO Vijay Shekhar Sharma said on Wednesday that the company's share market performance has been in line with that of global peers in the sector over the past six months due to macroeconomic factors. "Macro factors like quantitative easing, free money due to US monetary policy and other parameters led to a spook in the market in terms of pricing the IPO. "Paytm's shares have received a similar response to that of global peers in the last six months...But that is not a complete reasoning.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
As Google evaluates its response to two recent penalties slapped by the Competition Commission of India (CCI), here is a look at the app economy. Apps are bread and butter for mobile operating systems. India ranks second in the number of mobile downloads, with nearly 27 billion downloads in 2021, according to Deloitte. Accounting for 11.6 per cent of global app downloads, the Indian smartphone user spends over 4 hours a day on apps.
Modi, who addressed a public meeting in Hyderabad after laying foundation stone and inaugurating several development projects, also said the lack of cooperation from the state government is leading to delay in the completion of several central projects in Telangana.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
The election in Bihar will never be the same, reports Aditi Phadnis
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
The funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
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