News for 'payment systems act'

Andhra Bets on AI to Fight Mosquito Menace

Andhra Bets on AI to Fight Mosquito Menace

Rediff.com8 Jul 2025

When mosquito numbers cross safe limits in any area, automatic alerts will be sent, and civic teams will carry out spraying or fogging operations.

No GST return filing 3 years after original date

No GST return filing 3 years after original date

Rediff.com7 Jun 2025

GST Network on Saturday said beginning the July tax period, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date. The July 2025 tax period means taxpayers will file

Paytm gets NPCI nod to onboard new UPI users

Paytm gets NPCI nod to onboard new UPI users

Rediff.com23 Oct 2024

The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app. In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP).

India's $100 Bn Gambling Black Hole

India's $100 Bn Gambling Black Hole

Rediff.com11 Jun 2025

'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'

'Coercive, unilateral': BRICS nations slam Trump tariffs

'Coercive, unilateral': BRICS nations slam Trump tariffs

Rediff.com27 Sep 2025

The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.

How To Make Online Gaming Safe For Your Kids

How To Make Online Gaming Safe For Your Kids

Rediff.com17 Oct 2025

Gaming and cyber security experts suggest how kids and parents can stay aware to fight the growing threats and miscreants who act from behind the screen.

'Illegal Gambling Sites Are National Security Threat'

'Illegal Gambling Sites Are National Security Threat'

Rediff.com2 Jun 2025

'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'

Why You May Get An I-T Notice

Why You May Get An I-T Notice

Rediff.com17 Jun 2025

'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'

How to get more bang for the buck out of field agents

How to get more bang for the buck out of field agents

Rediff.com23 Jan 2025

Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?

Why Homebuyers Lose to Builders

Why Homebuyers Lose to Builders

Rediff.com18 Aug 2025

Many buyers skip or misread critical provisions in builder-buyer agreements.

What You Need To Know About New I-T Bill

What You Need To Know About New I-T Bill

Rediff.com26 Aug 2025

'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'

When A Bank Account Has No Nominee

When A Bank Account Has No Nominee

Rediff.com21 Aug 2025

Whenever possible, the karta or head of the family should openly discuss the future distribution of movable and immovable property with all legal heirs.

RTGS fund transfer to be available 24x7 from December

RTGS fund transfer to be available 24x7 from December

Rediff.com9 Oct 2020

In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.

'Longstanding demand met,' Patel on Sports Bill

'Longstanding demand met,' Patel on Sports Bill

Rediff.com13 Aug 2025

Patel emphasised that one of the most important features of the bill is the establishment of a dedicated tribunal for resolving disputes, reducing the burden on the judiciary and ensuring quicker justice.

What If Property Papers Go Missing?

What If Property Papers Go Missing?

Rediff.com11 Aug 2025

File a written complaint with the bank's grievance redressal officer and secure an acknowledgement.

Paytm can continue UPI transactions through 4 banks

Paytm can continue UPI transactions through 4 banks

Rediff.com14 Mar 2024

The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.

RBI asks Paytm Payments Bank to stop opening new accounts

RBI asks Paytm Payments Bank to stop opening new accounts

Rediff.com11 Mar 2022

The RBI on Friday asked Paytm Payments Bank to stop opening new accounts amid "material supervisory concerns" observed in the bank. "Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd to stop, with immediate effect, onboarding of new customers," the central bank said in a statement. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.

11 Sebi Rules That Can Supercharge Your MFs Returns

11 Sebi Rules That Can Supercharge Your MFs Returns

Rediff.com29 Sep 2025

SEBI's blockbuster reforms are rewriting the rules of mutual fund investing -- faster growth, sharper transparency, and smarter safeguards that put investors first, explains Ramalingam Kalirajan.

Nikki Bhati Case And The Dowry Trap

Nikki Bhati Case And The Dowry Trap

Rediff.com28 Aug 2025

35,493 brides were killed in India between 2017 and 2022 -- averaging nearly 20 deaths a day -- over dowry demands, sometimes occurring even years after the wedding.

India's BPO Industry Gets AI Makeover

India's BPO Industry Gets AI Makeover

Rediff.com29 May 2025

Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.

Enhance civil defence measures: MHA to states, UTs amid Pak attacks

Enhance civil defence measures: MHA to states, UTs amid Pak attacks

Rediff.com9 May 2025

In the letter issued, considering the last night attacks by Pakistani forces in Jammu and Jaisalmer regions, the provision also authorises the use of local authority funds for such emergency measures, giving them precedence over other financial obligations.

'Banking system has learnt lessons from 2008 crisis'

'Banking system has learnt lessons from 2008 crisis'

Rediff.com15 Mar 2024

'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'

20,000 GST Notices Issued For Rs 800 Bn Taxes

20,000 GST Notices Issued For Rs 800 Bn Taxes

Rediff.com22 Aug 2024

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.

India Must Only Agree To A Deal If It Is A Win-Win

India Must Only Agree To A Deal If It Is A Win-Win

Rediff.com27 Aug 2025

To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.

'Indus Water Treaty On Deliberate Pause'

'Indus Water Treaty On Deliberate Pause'

Rediff.com5 May 2025

'India's letter to Pakistan on April 24 (2025; two days after the Pahalgam terrorist attack) didn't tear up the treaty -- but it did put it on ice.'

RBI may introduce CBDC in call money market soon

RBI may introduce CBDC in call money market soon

Rediff.com5 Sep 2023

The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.

'BC network has to be commercially viable'

'BC network has to be commercially viable'

Rediff.com20 Feb 2025

'With a very stable technology with limited functionalities, a large network has spanned out.'

SC to examine age bar for surrogate mothers, seeks govt reply

SC to examine age bar for surrogate mothers, seeks govt reply

Rediff.com7 Jan 2025

The Supreme Court of India will examine the age limits for surrogate mothers and other provisions of the Surrogacy Regulation Act and Assisted Reproductive Technology (Regulation) Act on February 11. The court has asked the government to file its written submissions on the matter. The laws set age limits for intended parents and surrogate mothers, restricting commercial surrogacy and emphasizing altruistic surrogacy. The court is also considering alternative mechanisms for compensating surrogate mothers and has proposed a designated authority for disbursing payments instead of intended couples.

'Kirana Stores May Adopt Quick Commerce'

'Kirana Stores May Adopt Quick Commerce'

Rediff.com23 May 2024

'Traders must adopt digital payments as soon as possible within a set timeframe, as the nation is moving rapidly towards digitisation.' 'Ignoring digital systems is not an option for strengthening trade.'

Tighter norms, rising compliance failures driving scrutiny for startups

Tighter norms, rising compliance failures driving scrutiny for startups

Rediff.com24 Apr 2025

Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.

RBI's 90 Year Journey

RBI's 90 Year Journey

Rediff.com10 Apr 2024

Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.

Proposed RBI norms may hit gold-loan NBFCs in near term: Analysts

Proposed RBI norms may hit gold-loan NBFCs in near term: Analysts

Rediff.com21 Apr 2025

The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.

Simultaneous polls can promote consistency in governance: Prez Murmu

Simultaneous polls can promote consistency in governance: Prez Murmu

Rediff.com25 Jan 2025

President Droupadi Murmu, in her address to the nation on Republic Day, advocated for the "One Nation One Election" initiative, emphasizing its potential to enhance governance and reduce financial burdens. She highlighted the government's efforts to eliminate remnants of colonialism, citing the replacement of British-era criminal laws with modern alternatives. Murmu also lauded India's economic progress, stressing the importance of inclusive growth and social welfare. She urged citizens to remember the sacrifices of freedom fighters and reaffirmed the significance of the Constitution in guiding India's journey towards a prosperous and equitable future.

NPCI nod to onboard users may help Paytm streamline UPI operations

NPCI nod to onboard users may help Paytm streamline UPI operations

Rediff.com3 Nov 2024

One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.

Big relief in TDS deduction on rent from Rs 20K to Rs 50K per month

Big relief in TDS deduction on rent from Rs 20K to Rs 50K per month

Rediff.com1 Feb 2025

In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.

Know the Budget Impact on Your Finances

Know the Budget Impact on Your Finances

Rediff.com23 Jul 2024

'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'

'Public AI infrastructure we create would help startups'

'Public AI infrastructure we create would help startups'

Rediff.com9 Jan 2024

'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'

USTR Report Intensifies Trade Tensions With India

USTR Report Intensifies Trade Tensions With India

Rediff.com2 Apr 2025

The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.

50:50 Chance Of An RBI Rate Cut

50:50 Chance Of An RBI Rate Cut

Rediff.com4 Feb 2025

'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.

Tech disrupting traditional industries, warn biz leaders

Tech disrupting traditional industries, warn biz leaders

Rediff.com13 Feb 2025

Technology is rapidly reshaping industries that have long been rooted in tradition, driving a wave of innovation that is transforming everything from finance, banking, steel to manufacturing.