In the past, there have been instances of people getting fake e-mails in the name of RBI.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level
From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
Users well-versed in privacy laws or those concerned with their data would be worried; it could well be that many of us have already accepted the end user agreement without ado, points out Ashish Narsale.
Tripti Rai explains the unique features of Bharat Interface for Money (BHIM) app developed by the National Payment Corporation of India.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Customers taking small and convenient steps and some degree of care and precaution while paying digitally will ensure safety and security from new threats that emerge every day, says Avinash Luthria
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick.
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
The Governor said RBI does not limit itself too much when there is uncertainty.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Several of WhatsApp's early features were designed keeping Indian conditions in mind, given the choppy connectivity and existence of devices of different makes. In fact, India was the first country where WhatsApp rolled out in-app video calling services in 2016, ahead of its global launch, underlining the importance of the market for the company.
New offerings by banks are changing the way you transact.
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Since payment alternatives such as UPI, e-wallets and USSD - based mobile banking through different platforms are directly or indirectly linked to the user's bank account one needs to be extra careful to keep hackers at bay, explains Adhil Shetty, CEO, BankBazaar.
The cap of Rs 10,000 on daily withdrawal has also been removed.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
We are certainly for digitisation. I do not have opinion about demonetisation. I still don't, says Bill Gates.
Even investors with sums as low as Rs 1,000 per month can start their investment journey.
Sharad Sharma, co-founder and governing council member at iSPIRT, on Tuesday admitted using anonymous accounts to troll on social media those who raised questions on Aadhaar and its applications by the government.
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
This September, Sachin Bansal picked 94 per cent stake in microfinance company Chaitanya Rural Intermediation Development Services. His immediate plan is to scale up the company's operations as quickly as possible without making much investment in physical infrastructure and by leveraging technology.
As the government faces a difficult choice in keeping up with the rest of the world in AI development while making sure it does not add to unemployment, it has set up a task force to draw up a policy for the accelerated deployment of AI
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Adhil Shetty, CEO, BankBazaar.com shares his thoughts on what could help make digitisation and going cashless easier in the New Year.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
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