A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Following demonetisation, the Reserve Bank had also introduced new Rs 500 and Rs 2,000 notes.
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
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
In classifieds, over 41 per cent job searches were from mobile phones.
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
We are certainly for digitisation. I do not have opinion about demonetisation. I still don't, says Bill Gates.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
'People are angry.' 'First notebandi, then GST, now losses on the farm have ruined us.'
Banks and oil companies are in discussions as to who should bear these charges, it said a day after averting a crisis that would have hit millions of people as oil pump owners threatened to stop taking card payments.
Many analysts over the past week have said the RBI has legroom to cut rates to the tune of 65 bps by June and some like Barclays and BofA have also spoken about the likelihood of an inter-meeting cut.
After gaining 300 million mobile wallet users in India, the firm has now expanded operations to Japan via PayPay Corporation, a joint venture established by SoftBank Corp and Yahoo Japan Corporation.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
As part of this strategy, the e-commerce major has launched a programme to manage the entire business-to-business inventory supply and management for kirana stores in three cities in Karnataka.
The charges would apply to savings as well as salary accounts
The people of the nation co-operated and patiently waited for the government's promised "ache din", and now they want their just rewards, says Adhil Shetty.
He said that land, a state subject, was a big destination of black money while reform in political funding was also important
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
Demonetisation impact: Money lenders make a comeback.
In a Facebook post on the second anniversary of demonetisation, Jaitley said in first four years of the National Democratic Alliance government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
While flight operations have already resumed, inter-intra state train services also were partially operating since Tuesday night, they said.
It could end the payment backlog and improve the revenue flow of discoms, says Piyush Goyal
Stressing that both the government and the opposition have 'important roles to play', the President said, "While giving expression to their political ideas both must move forward in tandem to ensure that development of the country and welfare of its people are promoted consistently."
We must work in the direction of an innovation and technology driven economy which could boost up creation of jobs and open advanced and newer avenues of employment within the country.
Amid news that the company was planning to scale down its online marketplace business and eventually exit it, Paytm Mall is targeting Rs 10,000 crore in business over the next 12 months, says Karan Choudhury.
Finance Minister Arun Jaitley said political parties will be entitled to receive donations by cheque or digital mode from their donors.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
With a rise in the number of cyber crimes and hacking, and many putting a question mark on safety of Aadhaar data, the FM might bring proposals in this regard and allocate funds separately.
Google is going ahead with a policy revision mandating 30% charge on in-app purchases across all apps on Play Store. This has left developers' community worried about tighter squeeze on their earnings, says Yuvraj Malik.
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.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
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.
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