SBI customers faced difficulties in accessing UPI and mobile banking services for more than four hours on Tuesday due to some "technical issues". The country's largest lender later said the technical issues have been fully resolved.
The RBI on Friday gave 15 days more till March 15, 2024 to Paytm Payments Bank Ltd (PPBL) to stop deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants. As per a January 31 order of the central bank, PPBL was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Ola Electric Mobility Ltd on Friday said ministries of heavy industries, and road transport and highways have sought information from the company over gap in vehicle registrations as per the Vahan portal and sales as per the firm's regulatory filing. Besides, the ministries have also sought clarification on reports "regarding non-compliance to the requirement of trade certificates", Ola Electric Mobility said in a regulatory filing.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment. The company is aiming for revenue of Rs 100 crore in the ongoing financial year (2025-26), up from Rs 18 crore in 2024-25.
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.
Ola Electric on Tuesday clarified that its February sales figures reflect genuine customer orders after full payments, and not just preliminary bookings with a token amount, stating that "nearly 90 per cent" of these orders were paid in full at the time of placement. "To be clear, the sales figures for February 2025 represent genuine customer demand backed by financial commitment, not token-amount bookings.
The government on Wednesday asked e-commerce platforms to conduct annual internal audits to make sure that they are not resorting to manipulative tactics to mislead consumers and prevent them from making right choices -- a technique commonly referred to as dark pattern -- and submit reports to the Department of Consumer Affairs (DoCA). It comes just a week after Uber was issued a notice by the Central Consumer Protection Authority (CCPA) over its "advance tip" feature.
'My job is to provide people with a bouquet of options they can choose from.'
Modern technology is helping you use your mobile phone for all your banking activities. Very soon, your bank may become obsolete.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
The V150 has most of the basic features like voice, SMS and support for mobile payment services.
To push digital transactions in rural and semi-urban areas, the Reserve Bank of India (RBI) on Monday issued a framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000. An offline digital payment means a transaction that does not require internet or telecom connectivity. Under the offline mode, payments can be carried out face-to-face (proximity mode) using any channel or instrument like cards, wallets, and mobile devices.
About 99,165 electric cars were sold in India in 2024, but electric car penetration -- share of electric car sales in total sales -- was just about 2.5 per cent.
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.
Banks can, however, continue to provide basic services such as mobile alerts for credit or debit entry, balance enquiry or other services that are in the nature of providing information, the RBI said. Sources indicated that at present there are no norms governing these transactions and the RBI does not want to allow payments in the absence of proper norms.
While six of them have been held from Punjab, five were nabbed from neighbouring Haryana, and one from Uttar Pradesh.
Wipro will be implementing the core banking solution for Paytm.
Startups that became unicorns in 2024 took an average of nine years and six months to reach $1 billion valuation, reflecting the impact of a prolonged funding squeeze from PE/VC firms over the past few years.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
The Securities and Exchange Board of India (Sebi), in a circular dated April 11, 2025, warned investors about rising fraud and manipulation linked to the securities market on social media platforms.
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
Bharti Airtel is all set to start financial services on mobile phones as the company has been granted a licence by the Reserve Bank of India recently.
The mobile payments market has gained traction in recent years, because of factors such as higher penetration of handsets in comparison to coverage of population with banking services and benign regulatory environments.
Telecom service providers and the Maha Kumbh Mela administration are on their toes to ensure smooth connectivity at the grand event set to witness record teledensity.
In a recent operation, Bihar Police busted a fraudulent scheme operating under the guise of 'All India Pregnant Job Service', which deceived men with promises of substantial payments for impregnating childless women.
An extensive drug trafficking network operating throughout north India, with a particular focus on Shimla, has been busted following the arrest of two individuals - one from Kolkata and one from Delhi. The syndicate used online platforms for booking drugs, misusing innocent people's accounts and delivering drugs through couriers. Police have frozen 21 accounts associated with the network and arrested 16 individuals, including the kingpin, Sandeep Shah.
By the end of December 2021, India had 389 million users who did not have access to mobile Internet, while there were 765.8 million mobile Internet users in the country.
Bisht used the fake profiles to connect with women aged between 18 and 30 years on various onlione dating platforms.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
The Competition Commission is understood to have issued demand notices to Google for its failure to pay within the stipulated time the penalties imposed on the internet major for anti-competitive practices, according to sources. Google has filed appeals before the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) two orders in October. The appeals are yet to be heard by the tribunal.
The official said Sukhvinder's brother Satpal possibly transferred Rs 2.50 lakh from Canada to his cousin Jitu Singh alias Jita in Gwalior to facilitate the November 7 killing.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
