India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
'We will not compromise on it. We will not make any deferred payments or cuts.'
As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
Apple Inc is commencing assembly of its iPhone 12 model in the country, a move that is expected to help the US tech giant further consolidate its position in the burgeoning smartphone market in India. Apple has partnered with third-party manufacturers like Foxconn and Wistron to make some of its phones in India. These include iPhone SE, iPhone 10R and iPhone 11.
The key threats seen during this period ranged from phishing attacks to rogue apps disguised as COVID-19 information apps that targeted users sensitive data.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
Private sector lender ICICI Bank on Monday launched a facility which allows account-holders to transfer funds through Twitter.
Despite the uncertainty surrounding the future of the Unique Identity (UID) project, or Aadhaar, the Reserve Bank of India (RBI) is testing a mobile-based payments system linked to this platform.
Special Public Prosecutor Atul Sarpande had opposed their bail saying Rhea and Showik financed and arranged drugs.
The company has tied up with five distributors this year.
Now that you have already downloaded mobile wallets and all set to go cashless/digital with your payments to the local grocer, cabbie, maid, etc, here's what you must watch out for, says Tripti Rai.
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
Readying its game plan, the Bengaluru-based e-commerce giant plans to renew talks of investments in various companies such as Swiggy, BookMyShow, Pepperfry, UrbanClap
Nivedita Mookerji finds out how Paytm CEO Vijay Shekhar Sharma is handling his soaring popularity after the note ban as well as the criticism that comes as a package deal.
Only those who stick to the old I-T regime will get this benefit.
HDFC Bank managing director Aditya Puri on Wednesday said the lender's business is returning to pre-COVID-19 levels and full normalcy is expected to be restored soon.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
Telecom regulator TRAI on Tuesday released a detailed consultation paper to discuss threadbare the modalities for auction of spectrum across multiple bands, including pricing, quantum and other conditions -- preparing the groundwork for 5G auctions slated for next year. Trai's comprehensive consultation paper runs into 207 pages and throws up 74 questions for industry-wide discussion, touching on crucial aspects like valuation and reserve price of spectrum, including 5G, quantum of spectrum, block size, eligibility conditions for participation in auction, roll-out obligations, spectrum cap, and surrender of spectrum. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
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SBI will hold 30 per cent in RIL joint venture
Companies are looking for an engaging hook, and sound is universally seen as a big emotional connector, finds Nikhat Hetavkar.
Pradeep Bhandari, a consulting editor with the news channel, in his letter written on Sunday to the CJI alleged that Goswami has been shifted to jail on a 'false pretext' and he would be kept inTaloja Jail with 'hardened' and 'underworld' criminals.
From PhonePe to Jio, everyone wants to be a Super App but it is still unclear if they will actually work in India.
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
The new feature is up and running in Nagpur, Guwahati and Jodhpur
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
'For the next three months or so, the market will go down.' 'Traders do not have Rs 100 notes.'
Vodafone's Kisan Mitra will provide a spectrum of services for India's small farmers, simple mobile service interventions that can increase a farmer's income by Rs 8,000 per year.
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
Online booking of tickets will be encouraged but box office will be open for single-screen theatres.
