The famous 'tareekh pe tareekh' dialogue from the Hindi movie Damini captures where we are now.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
77 per cent of all transactions in the January-March 2025 period took place digitally, indicating continued preference for online car purchases.
Micro dramas -- typically 30 seconds to one to two minutes long per episode -- are designed for mobile-first audiences.
Non-banking entities such as fintech firms will have to tap into use cases beyond peer-to-peer (P2P) and peer-to-merchant (P2M) transactions to scale up the presence of the retail version of the central bank digital currency (CBDC), which is also known as the e, said industry players. These use cases will enable programmable transactions across domains, including the government's direct benefit transfer (DBT) schemes, with subsidies restricted to specific purposes such as food coupons, hospital bills, fertilisers, pesticides, and cross-border remittances.
Mastercard recently launched an authentication product called Identity Check Express that enables customers to verify transactions on their own.
Three men in Aligarh, Uttar Pradesh, received income tax notices demanding crores of rupees despite earning meager salaries, highlighting the growing issue of identity theft in India. The victims, who earn between Rs 8,500 and Rs 15,000 per month, were shocked to receive notices for Rs 33.88 crore, Rs 3.87 crore, and Rs 7.79 crore respectively. The authorities believe that businesses have been conducting large-scale transactions using forged Aadhaar and PAN cards in the names of these individuals.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
'The introduction of a reasonable MDR for large merchant transactions will allow the industry to continue investing in innovation, cybersecurity, grievance redressal, and merchant support, ultimately ensuring that UPI continues to thrive.'
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.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
'That way you're not hostage just to US sort of exports to India.'
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
'There's been interest from multiple states, and exploratory conversations are ongoing.'
The Enforcement Directorate (ED) has seized its biggest-ever cryptocurrency worth Rs 1,646 crore in a money laundering investigation into a fraud investment scheme called BitConnect. The scheme, which ran between 2016 and 2018, promised investors high returns through a proprietary trading bot but was found to be a sham. The ED tracked transactions through the dark web and seized the cryptocurrency from numerous wallets. This is the agency's largest-ever seizure of virtual digital assets and the investigation is ongoing.
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
The government has been taking steps to promote cashless or digital transactions to take India towards a less-cash economy
Around 30-50 million passengers in the reserved category have switched over to digital payments.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
'With a very stable technology with limited functionalities, a large network has spanned out.'
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
'Every delay directly increases the cost burden on developers. Land holding charges, financing costs, and compliance expenses escalate as approvals drag on.'
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
Amazon customers can now use their Rs 2,000 notes to top up their Amazon Pay balances during cash-on-delivery orders, as it offers a doorstep solution to ease the stress of exchanging such currency. Customers can deposit cash of up to Rs 50,000 per month, including notes of Rs 2,000 denomination, Amazon said. The cash load at doorstep service by Amazon Pay is helping consumers convert high-value notes for digital transactions.
As a volunteer you'll need to meet people and educate them about the benefits of going cashless by going digital.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
The FM said there has been a manifold increase in digital payments in the recent past.
'In the Indian government there are no illusions about the United States reliability or the possibility of having any kind of preferential treatment from Washington when it comes to trade.'
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
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