'A fresh look is being given to ways of processing, transmission, and delivery.'
Providing access to unbanked areas in the country has been high on the agenda of RBI, as almost 40 per cent of the population doesn't have a bank account.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
The RBI cracked down on offshore foreign exchange trading by Indians through online trading websites.
Nomura has forecast the rupee at 61.6 against the dollar in Q1 and at 62 by Q4 of 2015.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
Notices have been issued to the company for penal damages.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Despite the uncertainty surrounding the future of the Unique Identity (UID) project, or Aadhaar, the Reserve Bank of India (RBI) is testing a mobile-based payments system linked to this platform.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
Indian investments in equity and debt account for the second-highest remittances outgo (about a quarter).
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
One can expect significant changes at India's banks in ensuing months.
College is where the manicured view of the world provided by one's family, encounters new trends. It is the dawn of exploration. Wishing for a sanitised bubble on campus appears hypocritical. The correct strategy, one would assume, is to weed out the violence while retaining the right to political debate, argues Shyam G Menon.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Anand Rathi recently carried out a research on the behaviour of the economy and CAD.
Over two dozen Muslims have been elected to the Lok Sabha. This shows that all is not lost for India's Muslims, suggests Mohammad Sajjad.
The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
Questioning the bullet train in view of the investment needed in Indian Railways is similar to saying that India needed to invest in primary education rather than in IITs, says Shreekant Sambrani.
"There has been one meeting (on this). It is a matter of setting up the governance structures. Now ball is in the court of the Indian side to finalise the governance of the setting up of the fund. We are ready for it," the UAE ambassador Dr Ahmed Al Banna said.
Meridian Tech Pte has its development centre in Hyderabad.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
This is SBI's second forex technology initiative.
'It could tempt investors to pick stocks that are not fundamentally sound.'
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According to the global financial services major, the country's Current Account Deficit, which is the difference between the outflow and inflow of foreign currency, has the potential to 'surprise favourably'.
India's real GDP growth is set to exceed 7 per cent for CY-2015.
In absolute terms, the CAD stood at $4.6 billion in the current fourth quarter, compared with $13 billion in the year-ago quarter and $17.7 billion in the third quarter of fiscal year 2018-19.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Giving more freedom to individuals travelling abroad, they may soon be allowed to spend $2 lakh overseas in a year as against the present ceiling of $75,000.
Payment for imports do not require these two forms.
A total of 41 companies had applied for the permit
