Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
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.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
Health insurance claims are often denied due to exclusions in policy terms. Buyers frequently overlook the fine print or misinterpret clauses.
Dubai-based siblings Jainam and Jivika, the owners of jiohotstar.com domain, have decided to transfer it to Reliance "free of cost", resting speculations on social media platforms. The story of the internet domain name, which grabbed a lot of attention on social media platforms in the recent past, ended with "seva and kindness", according to the duo.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Meta announced a first-of-its-kind initiative called 'WhatsApp Bharat Yatra', where the company will go to Tier-II and Tier-III cities to provide on-ground, in-person training to small businesses.
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
Online food delivery platform Zomato will acquire Paytm's entertainment ticketing business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
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.
This is the second death of Russian lawmakers within a week in the same Odisha hotel.
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.
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.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
rediffGURU Radheshyam Zanwar counsels students about how to pursue a career in science, medicine and technology.
Be cautious when purchasing from little-known Web sites.
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.
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.
The pharmacy, identified by the federal anti-narcotics agency as JR Infinity Pvt Ltd, was located at Domalguda in Telangana's capital city.
Banks have started charging customers for payment of credit card bills through cheque and so paying online makes more sense.
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?
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.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
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.
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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.
Keep sufficient funds in your bank account until the cheque is cleared.
Visiting Varanasi for Dev Deepavali should be on your bucket list.
For those who find the online facility difficult, there is an electronic tutorial, and staff to assist you.
Tarun Mathur gives a quick low-down on what advantages one can have when buying motor insurance online
Maharashtra government initiative aimed at making system more transparent.
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.
Credit Information Bureau (India) Limited (Cibil) will now provide customers their credit reports and scores online. Individuals can now access these through a three-step process.
The company is offering an inaugural discount of $20 per booking for international flights paid for using PayPal till August 15, 2012.
The RBI has changed the way it approached supervision in the past. Having seen a couple of collapses in the NBFC sector and the near-collapse of a few banks, it is focusing on regular drills to prevent a fire from breaking out, explains Tamal Bandyopadhyay.
