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
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.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
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.
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.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
New offerings by banks are changing the way you transact.
'Personally, I have reached that stage where I think material things can't give you any satisfaction.'
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
ICICI bank waives ATM charges.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
Adhil Shetty, CEO, BankBazaar.com shares his thoughts on what could help make digitisation and going cashless easier in the New Year.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Even investors with sums as low as Rs 1,000 per month can start their investment journey.
WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
The telecom companies have also been asked to urgently improve their infrastructure, as the government aims to digitise a host of services.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
The cap of Rs 10,000 on daily withdrawal has also been removed.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Watal panel had suggested an independent payments regulator be set up.
We are certainly for digitisation. I do not have opinion about demonetisation. I still don't, says Bill Gates.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
'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.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Rediff readers share their Cash Crisis experiences.
