The board is likely to take up the matter this month.
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.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
One97 Communications Ltd (OCL), the parent firm of fintech major Paytm, has denied reports about any investigation by the Enforcement Directorate (ED) into the company, its associates, and its founder and chief executive officer (CEO), Vijay Shekhar Sharma. The company, in an exchange filing on Sunday, said it had cooperated with the authorities when users or merchants on its platform were subject to enquiries in the past. "We would like to set the record straight and deny any involvement in anti-money laundering activities.
With the start of the World Cup cricket tournament, Reliance Jio and Bharti Airtel have rolled out plans to woo cricket fans. Reliance Jio has started offering multiple prepaid plans bundled with Disney+ Hotstar where users will be able to watch World Cup cricket matches. Bharti Airtel has launched two plans, which include unlimited data for 2 days against a payment of Rs 99 and 6GB of additional data with 1-day validity for Rs 49.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
Cheque payments will be safer; the limit for contactless card transactions hiked.
With options ranging from recharging mobile, data card, DTH, toll card, to making bill payments for mobile, data card, landline and electricity, besides buying bus tickets for anywhere within the country, this free app is ideal for those on the go.
A 25-year-old student from Hyderabad, studying in the US, has gone missing there since March 7 and his family back in India said they received a "ransom" call.
Your awareness about the effect of the home loan tenure and EMI on your loan empowers you to take better decisions, explains Gaurav Mohta.
American online major Amazon seems to be almost doubling its India investment going by the company's recent announcement during Prime Minister Narendra Modi's state visit to the US. From the time the Seattle-headquartered company started its India journey in 2013, its investment into the country is pegged at $11 billion or roughly $1.1 billion a year. By committing a fresh round of $15 billion by 2030, the Jeff Bezos-founded company's investment would go up to more than $2 billion a year over the next seven years.
"In response to India's payments data circular, we've built a system that stores payments-related data locally in India," WhatsApp spokesperson said in a statement.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
A total of 41 companies had applied for the permit
Payments and banking transactions through mobile phones in India are expected to touch $350 billion (Rs 1,560 crore) by 2015, according to The Boston Consulting Group (BCG), a global management consulting firm.
National Payments Corporation of India is currently in the process of testing sound-based payments with three companies: PhonePe, ToneTag and UltraCash.
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
The NPCI has permitted non-residents from 10 countries, including the US, Canada and UAE, to digitally transfer funds using the UPI platform from NRE/NRO accounts. The National Payments Corporation of India (NPCI) in a circular said it has been receiving requests for allowing non-residents to use international mobile numbers for transacting in Unified Payments Interface (UPI). Accordingly, the NPCI in a circular dated January 10 has asked the UPI participants to put in place a mechanism by April 30 under which non-residents having NRE/NRO accounts will be allowed to transfer funds using their international mobile numbers.
RBI said its policy focus had been to encourage banks to leverage on this channel.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
UPI transactions are growing faster, but wallets remain relevant for those without a bank account and seeking cashbacks.
E-commerce firm eBay and its online payment unit PayPal has dragged search engine Google to court over the latter's mobile payment system alleging the internet giant used trade secrets to build a rival service.
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This means individuals like Vikram Pandit, former Citibank chief, can be a promoter only if he comes back to the country permanently.
Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
During his Delhi Metro ride on Friday, Prime Minister Narendra Modi advised students to make cashless payments and share their experiences through blogs.
Watal panel had suggested an independent payments regulator be set up.
The Anti-Terrorism Squad (ATS) has arrested a Zilla Parishad school teacher from Latur in Maharashtra and registered a case against four persons after it emerged that a racket was being operated to help NEET students willing to pay money to crack the exam, police said on Monday.
Do not trust any incoming phone calls or mails that ask you to install any file or programme, warns Niranjan Upadhye, general manager-fraud risk management, Worldline India.
Safety standards are thrown to the wind as government urges consumers to use mobile wallets at petrol pumps, Shine Jacob & Karan Choudhury/Business Standard report from New Delhi.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
India turns talent backyard for Southeast Asian taxi apps to fight Uber.
He has been sent to the ED custody till April 18 by the court, they said.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
The Manipur government on Tuesday lifted the suspension on broadband internet conditionally in a 'liberalised manner', nearly three months after it was banned due to the ethnic violence in the state.
Under the arrangement, a Reliance India Mobile user with an SBI account will be able to pay the bill amount directly from his account without having to pay any service charges.
A 30-year-old man, who had kidnapped a child and taken the ransom via UPI on his mobile wallet, has been arrested by the Noida police who used his digital footprints to trace him, officials said on Monday.
