Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said on Thursday. In 2023, the Directorate General of GST Intelligence (DGGI) detected significant GST evasion in diverse sectors like online gaming, casinos, insurance and secondment (import of manpower services). "DGGI has achieved an increase in detection of cases of evasion and voluntary payments. In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs 1,98,324 crore with a voluntary payment of Rs 28,362 crore.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Adhiraj Parthasarathy, a professional from Telangana, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
With the Reserve Bank of India's (RBI) extended deadline coming to an end, there will be no automatic recurring payment for various services including recharge and utility bill as the additional factor of authentication (AFA) will become mandatory from Friday. On December 4, RBI had directed all banks including RRBs, NBFCs, and payment gateways that the processing of recurring transactions (domestic or cross-border) using cards or Prepaid Payment Instruments (PPIs) or Unified Payments Interface (UPI) under arrangements/practices not compliant with AFA would not be continued beyond March 31, 2021. As part of risk mitigation measures, RBI announced this step to bolster safety and security of card transactions.
This is the second instance of mainstream banks blocking services to new-age digital payments companies.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
This is the second death of Russian lawmakers within a week in the same Odisha hotel.
The move triggered sharp reaction from the opposition, which has accused the state's BJP government of trying to stifle freedom of expression.
Coal-to-airports conglomerate Adani group is set to make a splash in the tech world. The group is considering the creation of customised artificial intelligence (AI) models for commercial prospects and consolidating digital services on a super app, according to people in the know. The Adani One app, part of its consumer-facing businesses, is reportedly in talks to expand into e-commerce and digital payments, according to a Financial Times report.
Online fraudsters are widely targeting Unified Payments Interface (UPI) transactions to dupe people and carry out unauthorised transactions, making it the most prevalent form of online financial fraud during 2020-2023, said a whitepaper on cybercrime trends.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
The 'Online Term' also offers higher life protection up to the age of 75 years through a transparent and hassle-free online process and provides the convenience of medical check-ups, if any, at the customer's residence.
Keep sufficient funds in your bank account until the cheque is cleared.
The pharmacy, identified by the federal anti-narcotics agency as JR Infinity Pvt Ltd, was located at Domalguda in Telangana's capital city.
While we are slowly moving towards a future where using hard cash will be obsolete, it is indeed a wise idea to start using E-payment cards for pocket money. We need to keep up with the times while we follow our children into the future.
There was such a rush that more counters were opened outside the GPO building, under the open sky, he added.
Several protests and mass movements across Delhi and the country were at their peak when the coronavirus threat slowly crept in, throwing normal life out of gear and pushing everyone indoors to ensure social distancing.
FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently. The responses were positive from analysts. Although some analysts pared FY25 and FY26 estimates, the bulk continued to issue 'buy' calls after the stock rose 2.5 per cent. The management expects the Beauty & Personal Care (BPC) business to grow at a 25 per cent compound annual growth rate (CAGR) during FY24-28.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
Be cautious when purchasing from little-known Web sites.
Uber on Thursday said it is now showing trip destination to drivers before they decide to accept a ride to enable them to make informed choices as the ride-hailing app announced a host of new measures promising to improve platform experience for drivers as well as riders. Upfront destination feature is already live across 20 cities and will be expanded to all others, Uber said in a statement. The move assumes significance as the government recently warned cab aggregators, including Ola and Uber, of strict action unless they improve their systems and redress mounting consumer complaints.
For the convenience of people to pay school fees and municipal taxes and utility bills through an integrated platform, the Reserve Bank on Thursday proposed setting up an "anytime anywhere" bill payment system.
Banks have started charging customers for payment of credit card bills through cheque and so paying online makes more sense.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
In the next three years, PayPal, believed to be the world's most successful online payment service provider will absorb engineering freshers in product development. Do you have what it takes?
Continuing our series on how to achieve Financial Independence and Retire Rarly (FIRE), Vatsal Ramaiya emphasises the importance of planning for retirement.
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.
They are understood to have promoted the Mahadev app and some had entertained guests at a wedding of a promoter of the app (application) that was held abroad.
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Recently, the central bank has asked online cab service provider Uber to rework its billing system to enable two-step authentication system. Following this, many have dubbed the central bank's decision as regressive.
Tarun Mathur gives a quick low-down on what advantages one can have when buying motor insurance online
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
For those who find the online facility difficult, there is an electronic tutorial, and staff to assist you.
Follow these steps to avoid last-minute surprises while claiming your mediclaim -- via cashless or reimbursement method, says P V Subramanyam
Maharashtra government initiative aimed at making system more transparent.
