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.
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.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Cheque payments will be safer; the limit for contactless card transactions hiked.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
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.
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.
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.
"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.
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.
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
National Payments Corporation of India is currently in the process of testing sound-based payments with three companies: PhonePe, ToneTag and UltraCash.
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.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
During his Delhi Metro ride on Friday, Prime Minister Narendra Modi advised students to make cashless payments and share their experiences through blogs.
He has been sent to the ED custody till April 18 by the court, they said.
UPI transactions are growing faster, but wallets remain relevant for those without a bank account and seeking cashbacks.
RBI said its policy focus had been to encourage banks to leverage on this channel.
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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.
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.
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.
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.
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.
Watal panel had suggested an independent payments regulator be set up.
Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found "serious deficiencies" in the lender's IT risk management. These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Arfath's father Mohammed Saleem had said that Arfath last spoke to him on March 7, and since then he has not been in touch with his family.
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.
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.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
India turns talent backyard for Southeast Asian taxi apps to fight Uber.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
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.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Transactions see 4-fold jump in a year; ICICI Bank tops Rs 1,000 crore (Rs 10 billion) in one month.
