'This helps the consumers secure more favourable terms from CIs.'
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
When the police conducted a probe into it, a mega fraud worth over Rs 16,180 crore came to light, the official said quoting the FIR.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
Public-sector banks, which are the largest employers in the banking space, have seen a drop in clerical staff over the years.
rediffGURU T S Khurana answers readers' personal income tax queries.
To push digital transactions in rural and semi-urban areas, the Reserve Bank of India (RBI) on Monday issued a framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000. An offline digital payment means a transaction that does not require internet or telecom connectivity. Under the offline mode, payments can be carried out face-to-face (proximity mode) using any channel or instrument like cards, wallets, and mobile devices.
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
'A mule operates someone else's account to transfer illegal money.'
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
MPFI is a joint initiative by Rural Technology and Business Incubator of IIT-Madras and Institute for Development and Research in Banking Technology.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
WhatsApp on Wednesday announced the expansion of its payments service in India to make it easier for people transacting with businesses to pay for purchases directly in the chat, with a choice of UPI apps, including rival digital payment options, as well as credit and debit cards. Meta founder and CEO Mark Zuckerberg asserted that India is leading the world in people and businesses embracing messaging. WhatsApp said it is working with partners Razorpay and PayU "to make paying for something as simple as sending a message", as the Meta-owned platform unveiled a host of new features to woo businesses in India's booming commerce market.
In FY24 alone, 1.34 million fraud cases were reported, amounting to losses of Rs 1,087 crore.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
'40 percent of voters in Bihar will be excluded.'
Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks.
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman said the Reserve Bank has been asked to look into ways to bring credit card payments on foreign tours under the LRS. "It has been represented that payments for foreign tours through a credit card are not being captured under the Liberalised Remittance Scheme (LRS) and such payments escape tax collection at source (TCS)," she said.
As the government is all set to roll out direct cash transfer for its welfare schemes, the National Payment Corporation (NPCI) on Thursday said seven banks have already implemented the Aadhar-enabled payment system (AEPS) and seven more are in the process of doing so.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Indian refiners are likely to import 2-2.2 million barrels per day of Russian crude oil in June - the highest in the last two years and more than the total volumes bought from Iraq, Saudi Arabia, the UAE and Kuwait, preliminary data by global trade analytics firm Kpler showed.
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.
A district-level investigation has named several individuals, including relatives of India cricketer Mohammed Shami.
Fintech firm BharatPe is targeting an initial public offering (IPO) in the next 18-24 months with the company expecting profitability at an earnings before interest, taxes, depreciation and ammotisation (Ebitda) level for FY25, chief executive officer (CEO) Nalin Negi said.
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Reliance, Birla Group, Airtel eye small finance banks.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
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
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
'The Election Commission is conducting the National Register of Citizens in Bihar through the backdoor.'
An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
This innovation has made mainframes the fastest-growing segment within IBM's Infrastructure business, demonstrating that even legacy technologies can continue to deliver value.
'My job is to provide people with a bouquet of options they can choose from.'
'I don't know when I will be able to access those funds.'
'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.'
Digital payments across the country registered a growth of nearly 29 per cent in a year through March 2022, as per the RBI's latest index that measures the adoption of online transactions. The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021. "The RBI-DPI index has demonstrated significant growth, representing the rapid adoption and deepening of digital payments across the country in recent years," the RBI said in a statement on Wednesday.
