'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
Stunning photos have revealed incredible secrets of the underwater world, with the winners of the 2018 Underwater Photographer of the Year award announced. German photographer Tobias Friedrich has been named Underwater Photographer of the Year 2018. More than 5,000 images were submitted this year by photographers from around the world. UPY was once again kind enough to share some of this year's honourees with us below, with captions written by the photographers.
Prime Minister Narendra Modi on Thursday inaugurated and laid foundation stones of development projects worth more than Rs 38,000 crore in different sectors in Mumbai, giving a big push to infrastructure, urban travel and healthcare ahead of civic polls in the city in which the Bharatiya Janata Party and the Eknath Shinde-led Shiv Sena faction will seek to showcase these ventures to take on their political rivals.
The Underwater Photographer of the Year competition has announced the winners of this year's contest, with France's Gabriel Barathieu being named Underwater Photographer of the Year for an image of a hunting octopus. UPY was kind enough to share some of this year's honorees with us below.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
'I can tell shareholders we're going to be very responsible with our capital, we're going to be absolutely execution focused.'
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
A merchant using the bank's merchant App, QR code, PoS or Payment gateways, across all segments, including electronics, apparel, grocery, stand to win assured cashback and prizes on volume build-up, EMI or digital transactions.
Prime Minister Narendra Modi on Monday launched e-RUPI, a person and purpose specific digital payment solution that is aimed at improving transparency and targeted delivery of benefits. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leakproof manner, with limited touch points between the government and the beneficiary. The concept of electronic voucher takes forward this vision of good governance. To begin with e-RUPI facility is available for health services and will be expanded to other segments.
Earlier this month, RBI told the Delhi high court that Google Pay is a third party app provider and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
Data processing compliance is the main reason behind the delay. The government, on several occasions, has made it clear that Indian financial data needs to be stored exclusively onshore and if it is processed outside, it needs to be brought back in 24 hours.
ICICI Bank says it blocked all UPI transactions made through PhonePe due to security concerns.
The government has notified a host of procedural changes in the GST rules, including levy of interest for wrongful utilisation of ITC and turnover threshold for filing annual returns for the 2021-22 fiscal. The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week. With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
Technology giant Apple has informed its customers in India that it will no longer store their card information on file and will not be accepting payments made by debit cards and credit cards for purchases or subscriptions on the App store or other Apple services. The decision has been taken by the US-based company in view of the Reserve Bank of India's (RBI's) card data storage guidelines, which will kick in from July 1. The deadline for implementing these norms was extended twice.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
By the end of December 2021, India had 389 million users who did not have access to mobile Internet, while there were 765.8 million mobile Internet users in the country.
The Centre is unlikely to announce an agreement over payment mechanism with Russia until a ceasefire is declared in the Ukraine war, said people in the know. An inter-ministerial group headed by the finance ministry has been meeting regularly for over a month to analyse and discuss payment mechanisms that can work under the current circumstances and ensure the trade between India and Russia is not disrupted. The US had recently said that there would be consequences for countries actively attempting to "circumvent or backfill" American sanctions against Russia.
Nandan Nilekani talks about moving towards a cashless economy and freedom of Internet, among others
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
Top officials in key ministries, including finance and IT, are of the opinion that a sensitive payments system such as UPI should not be on a platform whose security is possibly compromised.
These are some of Rediff.com's favourites from all 80 award-winning photos.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
CCI decided to pursue investigation on two issues - these relate to "exclusivity regarding the mode of payment for the purchase of apps and in-app purchases" and "pre-installation and prominence of Google Pay on Android smartphones".
This is the second instance of mainstream banks blocking services to new-age digital payments companies.
Unified Payments Interface launched to simplify mobile banking.
India's Internet economy has two choices: An immediate $30 billion Sale-and-Leaseback or a $3 trillion value harvesting over decades, observes Vibhu Arya.
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
When it comes to losing a job permanently, the youngest and the oldest segments in the workforce have reported an increase in setbacks in the second wave of the pandemic, a survey of by a Fortune500 company has said. The survey, conducted in April this year, covered 2,000 persons in India. Six per cent of those over 55 years of age reported having permanently lost their job, as against 4 per cent last year. In those aged under 24, the proportion reporting a permanent job loss has increased to 11 per cent from 10 per cent in the year-ago period, the survey done by financial technology company FIS said.
The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation. The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference on Wednesday. The decision was taken during a three-day meeting of the RBI's Monetary Policy Committee (MPC) to review the interest rates in the country. The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent," Das said.
Prime Minister Narendra Modi on Sunday called for the setting up of a high-power police technology mission under the leadership of the Union home minister to adopt future technologies for grassroot policing requirements.
'Demand is wonderful. We have crossed 10 million on many days.' 'The Swedish trade commissioner recently said, "You guys are vaccinating the entire Sweden in one day".'
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
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.
The fundamental issue between banks and fintech would be who will own the customer and who will be the service provider.
