Money

Digital payments solutions such as Unified Payments Interface (UPI), National Unified USSD Platform (NUUP), and Aadhar for identity and eKYC have the power to attract customers towards digital banking platforms.

Reserve Bank of India has almost stopped the printing of Rs 2000 currency notes, as the primary focus has shifted to printing of Rs 200 notes, and circulating them

Hike Messenger was India’s first messenger app to integrate UPI on its app, and soon we heard about WhatsApp looking to get approval from National Payments Corporation of India to allow in-app payments. UPI payments are extremely…

Twice in the 2 months, Reserve Bank of India (RBI) has taken a proactive approach in dealing with fraud bank transactions via online medium. On June 1st, RBI had declared that Rs 5000 shall be the maximum liability for consumers in the…

United Payments Interface (UPI), the brainchild of National Payments Corp. of India (NPCI) is now processing more than 1 crore transactions per month. This is a major milestone for UPI because, after its launch in April last year, UPI…

Govt. of India has confirmed that Rs 200 currency note is, in fact, a reality, and indications are strong that the currency will hit the market very soon. As per confirmed reports coming in, it has been revealed that printing of Rs 200…

Internet Banking has always been an important part of our daily lives. Being easy alternative to card payments and e-wallets, net banking makes online transactions really easy. At present, Internet banking is the best and safest online…

The National Payments Corporation of India (NPCI) is going to commercially launch its credit cards, just like it had launched its own debit cards. The cards will be based on RuPay payment gateway and a few banks will be partnering with NPCI…

In India, close to 20 lakh cheques are bounced or dishonoured every year. Traders’ Associations all over India has requested the Govt. to stop this menace of bounced cheques, and have asked for stricter rules. Hearing these pleas, Ministry…

India’s 2nd largest private bank: HDFC Bank has decided to adopt an anti-digital stand, which is quite surprising and unexpected at the same time. As per latest notifications received, HDFC Bank will now charge every person-to-person UPI…

While on one hand PM Modi and Govt. of India is going full throttle on encouraging digital transactions and cashless economy, India’s largest bank, State Bank of India, has some other plans. Effective today, SBI has introduced 5 major…

Amidst rising digital transactions all over the country, the issue of transaction frauds is also cropping up, with the same proportion. And these rising complaints and feedbacks related to such frauds are being noticed. Deputy Governor of…

This is certainly unexpected. Govt. of India has decided to re-introduce Re 1 currency note after a gap of 22 years. The last time Re 1 note was printed, it was 1994. The size of these new Re 1 note would be 9.7 by 8.3 cms, and the…

Paytm will soon be turning into a Payments Bank, as the digital wallet will pass through a transformation. The news came out couple of days back, as CEO Vijay Shekhar Sharma issued a public notice, announcing the launch of Paytm Payments…

Paytm has been planning to launch its Payments Bank for so long now, and the company even integrated UPI on its platform for the same. Because of some hurdles, Paytm was unable to officially start operations of its payments bank. Now,…

In the last couple of months, bank account holders have been receiving urgent SMSes and calls from banks, asking to link their Aadhaar cards with the bank accounts. I have personally received around 10 such messages from HDFC Bank, and…

This is one of those watershed moments for the nascent Indian fintech (Financial Technology) industry. The regulator of securities trade in India; The Securities and Exchange Board of India (SEBI) has allowed investment in mutual funds via…

Under FATCA provision (Foreign Account Tax Compliance Act), Income Tax Department has asked all banks and financial institutions to seek self-certification from bank account holders, before April 30th. Failure to do so will lead to…

While India is approaching more flexible methods for online payments to counter the challenges faced after demonetization, NITI Aayog CEO Amitabh Kant has said that digital transactions will be done via mobile wallets and biometric system,…

When the ban on currency notes was announced in India, the Government of India decided to promote a digital economy through the usage of debit and credit cards, e-wallets or online banking. However, now that remonetization has started,…