The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Missing the deadline for filing Income Tax returns can lead to consequences.
Donald Trump issued a scathing response to his indictment by a Manhattan grand jury, describing it as 'political persecution' and election interference at the highest level in history and warning that the 'witch-hunt' will backfire massively on United States President Joe Biden.
By the end of March 2022, only 2,140 million pieces of Rs 2,000 denomination currency notes were in circulation, or 13.8 per cent of the total value of notes.
Notwithstanding its continuing military strikes against Ukraine, Russia has started supplying some components of the second regiment of the S-400 Triumf missile defence system to India, people familiar with the development said on Friday.
The judges reserved the verdict on Monday after the rival lawyers concluded their arguments on the suspension of the three-year sentence handed down to the 70-year-old PTI chairman by Additional District and Session Judge, Islamabad, Humayun Dilawar on August 5.
When we look at the pension expenditure of the states, so far, there has been no gain from the NPS reform. Pension expenses as a share of total state revenue expenditure rose from 4% in 1991-1992 to 10% at the time of the NPS reform, and have risen further to about 12%, observes Ajay Shah.
Companies are innovating with tech tools to ensure that you spend less time at the cash counter.
Enabling the online booking and payment for Indian Railway tickets is one such case. Amitabh Pandey's book is about how he went about enthusing teams inside the Indian Railways and facilitating online reservations, says Ajit Balakrishnan.
The Chhattisgarh government has decided to set up model fair-price shops (FPS) in each district and encourage owners to act as banking correspondents for providing financial services. The state has around 12,300 fair-price shops across 33 districts. The state government is, however, encouraging FPS owners to provide a host of services besides acting as a banking correspondent.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.'
The finance ministry has put out a revised draft in public domain.
The need to maintain people's confidence in digital banking resulted in the action against HDFC Bank for service outages, RBI Governor Shaktikanta Das said on Friday and exhorted lenders to invest more on the technology front.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
Bank licencing has been a "once in a decade" affair and so it could well be that we don't face this process anytime soon.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people: FM
Donald Trump has been indicted by a Manhattan grand jury on charges related to paying off a porn star during his 2016 presidential campaign, making him the first former US president to face a criminal charge and upending his bid to retake the White House in 2024.
Thousands of demonstrators have hit the streets since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply.
With thousands of people receiving ransom messages from cybercriminals every day, Devangshu Dutta explains how you can defeat the hackers.
In a bid to ensure security of card data, the Reserve Bank of India (RBI) has enhanced the scope of tokenisation and permitted card issuers to act as token service providers (TSP). Under tokenisation services, a unique alternate code is generated to facilitate transactions through cards. The RBI on Tuesday extended the device-based tokenisation to card-on-file tokenisation (CoFT) services, a move that will bar the merchants from storing actual card data. Card-on-file refers to card information stored by payment gateway and merchants to process future transactions.
The RTGS for high-value transactions will remain unavailable for 14 hours from midnight of Saturday due technical upgrade to further improve the disaster recovery time of the system, the RBI said in a statement. The popular National Electronic Funds Transfer or NEFT for fund transfers of up to Rs 2 lakh will continue to be operational as usual during this period.
We are certainly for digitisation. I do not have opinion about demonetisation. I still don't, says Bill Gates.
Union finance secretary T V Somanathan recently said the Centre had saved Rs 10,000 crore in FY22 on interest payments after adopting new accounting mechanisms for central government agencies and centrally sponsored schemes (CSS) for state governments. Speaking at an event, Somanathan said due to these, there was an unspent balance of Rs 1.2 trillion with state agencies from CSS as on March 31, 2022. This means this amount will be reduced from the Centre's borrowing for now and it can be considered a short-term saving for the exchequer.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
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.
... Are far-reaching social changes coming with it, asks Ajit Balakrishnan.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
The last few years have been uncharacteristically good for the Indian sugar sector for a variety of reasons. While on the one hand, the weather supported good crop production; on the other hand, the programme to blend ethanol with petrol took off in a big way. The long-pending problem of burgeoning sugarcane arrears almost came down to nil and exports boomed to record highs.
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
The doctors' bodies said that the two sides reached consensus during talks with the state government agreeing to keep private hospitals that have not availed land at subsidised rates or other benefits from it outside the ambit of the proposed law.
Personal information such as name, gender, email address and phone numbers of some Akasa Air passengers has been leaked to "unauthorised individuals", the airline stated on Sunday. India's newest carrier said it self-reported this incident to Indian Computer Emergency Response Team CERT-In, which is the government-authorised nodal agency tasked to deal with matters of this nature. However, Akasa Air asserted that there was no "intentional hacking attempt, but that the situation was reported by a research expert through a journalist for which we are grateful".
With this, India joins 60 other countries that collect PNR details of international passengers.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
