Modi government plans to set up a committee of five or six chief ministers to suggest ways to promote digitisation.
Central bank raises red flag, warns of potential risk
Food and grocery a favourite category for e-commerce players.
NRIs are increasingly buying properties in India online.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Websites that compare product prices and offer cashback can help you get attractive deals and discounts.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
Indians are eager consumers of digital advertising and are five times more willing to share personal data with companies when they are delighted by their digital experience.
Online retail in India touched $12.6 billion in 2013.
A former deputy head teacher at a London primary school who had pleaded guilty to paying and instructing teenagers in India to abuse younger children was sentenced to 12 years in prison on Wednesday.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
More than three weeks have passed since the Reserve Bank of India's (RBI's) new guidelines on e-mandates for recurring payments came into effect but consumers are still taking to social media platforms to complain about the disruptions they are facing. This comes as most stakeholders in the ecosystem have not put in place systems in accordance with the new rules, resulting in many transactions not going through. Industry sources said most banks are still not ready, especially the smaller ones.
Brokerages have maintained their ratings and target prices on FSN E-Commerce Ventures, the parent company of Nykaa, after the fashion and beauty online retailer posted in-line numbers during the October-December quarter (Q3) of financial year 2023-24 (FY24). They have, however, cut earnings before interest, tax, depreciation, and amortisation (Ebitda) estimates after weak demand weighed across line items in Q3. "While revenue growth was healthy at 22 per cent year-on-year (Y-o-Y), gross margins declined 90 basis points (bps), weighed by higher discounting in own brands and lower ad income.
The tax, in lieu of local levies, will be imposed at the first point of a financial transaction.
The International Cricket Council was the target of cybercrime involving a wire transfer of a sizeable sum of money, roughly US$ 2.5 million.
It is important to have the necessary documents on hand to verify the information in the form.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
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.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
According to research and consultancy firm RNCOS, the online retail market is projected to grow at a compound annual rate of 40-45 per cent during 2014-18.
Cruelty by the husband (or his relatives) accounted for about 40 per cent of these cases. Delhi reported the highest number of cases of crimes against women (12,552) followed by Mumbai with over 5,000 cases.
Any company resident in a country has to pay both indirect taxes as well as Income Tax.
Customers using e-commerce websites are young and techno-savvy.
Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.
Open loop pre-paid cards come with a two-factor authentication. One for ATMs and PoS transactions, and the other for online transactions
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Market place model of e-commerce means providing of an IT platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.
The Director General of Goods and Services Tax Intelligence (DGGI) has slapped its heftiest tax notice of Rs 21,000 crore on Bengaluru-based Gameskraft Technology (GTPL) for allegedly evading GST on the betting amount. Gameskraft has dubbed the notice a "departure from the well-established law of the land". The company is accused of promoting online betting through card, casual and fantasy games like Rummy Culture, Gamezy and Rummy Time.
Amazon customers can now use their Rs 2,000 notes to top up their Amazon Pay balances during cash-on-delivery orders, as it offers a doorstep solution to ease the stress of exchanging such currency. Customers can deposit cash of up to Rs 50,000 per month, including notes of Rs 2,000 denomination, Amazon said. The cash load at doorstep service by Amazon Pay is helping consumers convert high-value notes for digital transactions.
Court cases likely over interpretation of the new levy proposed in the Budget for digital economy.
Private players like HDFC Bank, ICICI Bank and Citibank have outsmarted heavyweight State Bank of India by attracting more clients to buy railway tickets through their Internet banking facilities.
With aggressive brand-building initiatives, the companies' advertising budgets ahead of Diwali is understood to have seen a 15% spike
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
India's first-ever listed new-age company, Zomato, has seen a meteoric rise in its stock price in calendar year 2023 (CY23), rising 70.75 per cent during this period as compared to 9.5 per cent rise in the S&P BSE Sensex. From being the second worst hit new-age stock in CY22, crashing 57 per cent on the National Stock Exchange (NSE), the stock hit the Rs 100-mark for the first time since January 2022 in late August. The stellar run in the stock - only after PB Fintech and One97 Communications-owned Paytm, analysts say, may be coming to an end, at least for now.
Tripti Rai explains the unique features of Bharat Interface for Money (BHIM) app developed by the National Payment Corporation of India.
Brotin Banerjee, managing director and chief executive officer, talks to Business Standard on how the e-commerce space has broken down the barriers between a buyer and a seller.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
Customers would be able to make money transfers, pay utility bills and recharge their mobile and DTH connections with just one click and a single PIN entry
