Indian Airlines has launched a 'pay smart' scheme in association with ICICI Bank to enable its passengers avail the benefit of deferred payment system during the period April 26, 2004 to March 31, 2005.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
In significant push towards a less-cash economy, Prime Minister Narendra Modi on Friday announced starting a biometric payment system using Aadhar platform within two weeks even as he exhorted citizens to adopt digital currency from the new year.
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and broadens the definition of wilful default.
The Reserve Bank of India will announce the third quarter review of its Monetary and Credit Policy on January 29.
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
'Who has given how much money to which party, the people of India must know this fact.'
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
Nearly 665 million Indians or 45 per cent of the rural population did not have access to the internet as of 2023. Difficulty in understanding internet procedures, insufficient awareness of its benefits, and a lack of interest have emerged as the top reasons for a gap in internet penetration in rural India, according to a joint report by the Internet and Mobile Association of India (IAMAI) and Kantar. "The proficiency of English in rural India is very low. While we have content in Hindi, the internet is English-heavy.
The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said.
The CBI said the software enables the user to save all required details to book Tatkal tickets beforehand.
Russia has almost completed the delivery of major components of the second regiment of the weapon systems.
UIDAI has asked police to investigate, it was not fully convinced about nature of the incident
The NITI Aayog may want us to believe this is one of the easiest payment systems in the world, but Tinesh Bhasin decodes the many unanswered queries and concerns involving the United Payments Interface.
The comment was in response to a June 19 Reuters story citing sources with knowledge of the matter as saying that India planned to clear some oil payments to Iran through the United Arab Emirates central bank.
'Indian and Iranian sources both confirmed to me that India and Iran are moving ahead to implement a payment system on buying oil from Iran and hope to finalise it very soon,' says Aveek Sen.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
Daniels has said she had a sexual encounter with Trump at a Lake Tahoe hotel in 2006 - the year after he married his current wife Melania.
The addition of a mobile payments service to Apple Inc's next iPhone could help to boost sales of the larger-screen phones and claw back market share lost to mobiles running on Google Inc's Android platform.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
The move would help in further promoting ease of doing business in the country.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
Transcript of the IIT chat held on Friday.
Content is King, and if it is of high quality, Indians are ready to pay for it. Internet users polled in India are ready to pay for online content, particularly books, magazines and music, and professionally produced videos and television shows, said The Nielsen Company.According to the survey, 70 per cent Indians are willing to pay for online content if they get the right to copy it and share it with others. About 63 per cent will pay if the payment system is easy to use.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
In a Facebook post on the second anniversary of demonetisation, Jaitley said in first four years of the National Democratic Alliance government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
Ramalingam Kalirajan explains the pros and cons of both investment types.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
'Through the use of technology, the GSTN will tip the balance in favour of compliance rather than tax evasion, lowering the barriers for entry into the tax payment system while making it much harder to cheat on payments,' says Nandan Nilekani.
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
