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Tag: Digital Payments

Indian Economy Exhibited Stronger Pick Up Than Expected: RBI Guv Shaktikanta Das
Evolving conditions will guide future policy actions: RBI Governor

Addressing a press conference, the governor said the RBI has changed the policy stance to drop the phrase "remains accommodative", and instead opted for "withdrawal of accommodation" for guiding its future moves.

WhatsApp giving cashback for making digital payments in India

If you become eligible for the promotion, you will see a banner within the app, or a gift icon when you're sending money to an eligible receiver, according to WhatsApp.

Ashris Choudhury
Why PM Modi Was All Praise For This IIT Graduate From Odisha

It was a normal day with nothing new. But very little did this Software Engineer from Odisha know he will get appreciated by PM Narendra Modi for his work.

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RBI To Soon Float Paper On Reasonableness Of Charges On Transactions Via Digital Payments

To further encourage the use of UPI by retail investors, he said it is proposed to enhance the transaction limit for payments through UPI for Retail Direct Scheme and IPO applications from Rs 2 lakh to Rs 5 lakh.

Union Budget 2021: FM Proposes Rs 1,500cr Scheme To Boost Digital Payments

New Delhi:  To boost digital payments, Union Finance Minister Nirmala Sitharaman on Monday proposed a Rs 1,500 crore scheme during her budget presentation. “To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment,” Sitharaman said. Sitharaman also […]

Hefty Fine For Not Using Digital Payments By Jan 31, 2020

New Delhi: Shops, business firms or companies with an annual turnover of Rs 50 crore or more and required to provide digital payment facilities to customers as part of government’s stride towards a less-cash economy, will not have to pay any penalty till January 31 for not installing the system. They would, however, be made […]

Indian banks risk losing $9bn revenue to e-wallets by 2025

Mumbai: As much as 14 per cent of Indian banks payments revenue, or $9 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, an Accenture report said on Thursday. “With the digital boom as payments become more instant, invisible and free, banks need to reinvent themselves to grow […]

2 former Google executives join Paytm

New Delhi: Digital payments player Paytm on Thursday announced the expansion of its leadership team with two former Google executives, Praveen Sharma and Ankit Sinha being appointed senior vice president, ad business, and vice president, Paytm AI Cloud, respectively. Both the former Googlers will report directly to Paytm Founder and CEO Vijay Shekhar Sharma. “Over […]

PhonePe 2nd most downloaded finance app in May: Report

New Delhi: In a sign that people in India are fast adopting digital payments methods, a new study has found that PhonePe, a Unified Payments Interface (UPI)-based app, was the second most downloaded app in the world in the finance category in May after Google Pay. The UPI platform was developed by the National Payments […]

Demonetisation, Aadhaar spurred digital payments growth: RBI

New Delhi: After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India. Transactions in which both the payer and the payee use […]

Cash deeply embedded in payment systems in India, says RBI

New Delhi: Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve Bank of India. At 11.59 per cent of Gross Domestic Product (GDP) India had a high cash […]

GST Council proposes cashback incentive to promote digital payments

New Delhi: The Goods and Services Tax (GST) Council in its meeting on Saturday decided to start a pilot project to give cashback to consumers in order to incentivise digital payments in the country. The pilot project, which proposes 20 per cent cashback on GST component of transactions, will be rolled out by states who […]

New method of filing GST returns to be rolled out in 6 months

  New Delhi: The GST Council on Friday decided to roll out a new method of filing monthly returns in six months and to take over ownership of the GST Network (GSTN), even as it deferred a decision on imposing a sugar cess and allowing an incentive for digital payments. Briefing reporters here following the 27th […]