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Aadhaar Based Transactions By Axis Bank Have Been Banned By UIDAI For Misusing Biometric Data
Axis Bank, which is India’s 3rd largest private bank, has received a major set-back and a big blow to its reputation because UIDAI has banned all Aadhaar based transactions on their platform. This is a temporary ban, executed because of…
Customers, Petrol Pump Owners Need Not Pay MDR As Oil Companies Agree To Bear MDR Fee For Debit…
In a major development which can set a standard for cashless transactions in India, oil marketing companies have agreed to bear and absorb MDR or Merchant Discount Rate fees applicable on cashless transactions at petrol pumps.…
Airtel Will Sell Mutual Funds, Insurance Via Payments Bank; Gov. Drafting Rules To Make E-Wallets…
Airtel Payments Bank has decided to jump into the lucrative financial products niche and will be soon selling mutual funds and insurance policies.
As of now, Airtel Payments Bank has 2,50,000 banking points across India and…
7 Facts About Bharat QR Code Which Every Consumer & Merchant Should Be Aware Of!
In a major push for seamless cashless transactions, Govt. of India has launched Bharat QR Code, which is world’s first interoperable payment platform.
National Payments Corporation of India (NPCI), which is the umbrella organisation…
Debit Card Charges To Get Cheaper; MDR Would Be Linked to Transaction Purpose & Volume!
There has been a growing demand from business community and consumers to bring down the additional expenses related to cashless transactions. Right now, there is an additional surcharge, called MDR or Merchant Discount Rate of 0.75% if…
Govt Claims BHIM App Has Processed Rs 361 Cr of Transactions Till Date; But Issues Persist In Its…
BHIM App, which was launched on December 30th by PM Modi is making slow but steady progress. In Lok Sabha, Minister of State for Planning Rao Inderjit Singh informed the nation that Rs 361 crore worth of transactions have been…
RBI Removes Limit On ATM Cash Withdrawals, Bank Counters; Digital Transactions Drastically Reduce!
On November 8th, Govt. of India had announced one of the biggest financial shake-ups this country ever witnessed, when it demonetized Rs 500 and Rs 1000 currency notes, thereby cancelling the legality of 86% of circulating cash in the…
HDFC Becomes 1st Bank To Deploy Robots For Customer Service; Fires 4,581 Employees Due To ‘Improved…
HDFC Bank has become India’s first bank to deploy a robot inside their branch for customer service purpose. This interactive humanoid, christened as IRA or Intelligent Robotic Assistant will be able to greet customers, and then offer a…
After Airtel & Paytm, India Post Payments Bank Coming Soon!
Airtel is the first company in India to launch its payments bank, and Paytm is soon going to as well. Third in the line, India Post has received the payments bank license from the Reserve Bank of India(RBI) to start its commercial…
Rs 50,000+ Cash Withdrawal Can Be Taxed From Now On; Rs 1000 Subsidy For Buying SmartPhones Proposed
A day before Republic Day and a week before the presentation of Union Budget, a powerful panel comprising of Chief Ministers of India have suggested strong proposals, which, implemented, can have a long-term implication on the Digital…
Yes Bank Launches India’s 1st Customizable Saving A/C; Ties Up With T-Hub To Help Fintech Startups
Yes Bank, which is India’s 5th largest bank as per market capital, has launched India’s 1st customizable saving bank account. Designed for those banking customers who are stuck with traditional, and orthodox saving account format, this…
Daily ATM Withdrawal Limit Increased To Rs 10,000/Day; But Free ATM Withdrawals Can Be Limited To…
As per various estimates, more than 50% of the demonetized currencies have returned back to the system. This means that cash is not being hoarded anymore, and the markets are circulating currencies like before.
Signaling ease of…
Govt Wants PAN Card Details Of All Bank Account Holders By February 28th As Hunt For Black Money…
In one of the major crackdown on black money hoarders, Govt. of India has directed all banks to furnish PAN card details of all bank holders by February 28th, 2017.
Never before in the history of banking, such massive exercise has…
Petrol Pumps Declare War Against Banks; Strike Against Cashless Payments Put On Hold, But Situation…
This is indeed a scary situation out here, especially for millions of vehicle owners, who are ready to pay for petrol and diesel using their debit/credit cards; but it seems that the petrol pump owners won’t support card based payments…
Paytm Payments Bank Gets Final RBI Approval; Integrates UPI Into Their Wallet!
Paytm founder Vijay Shekhar Sharma personally announced the big news via blog post: Reserve Bank of India (RBI) has given its final approval for the launch of their much-awaited Payments Bank.
The news is indeed important, as Sharma…
ATM Fees, Debit Card Charges Make A Comeback – Has Govt Forgotten To Roll Back The Charges Or…
On the night of November 8th, when PM Modi announced demonetization and called for a national push towards a cashless economy, he also announced two very beneficial steps, which helped the citizens at large: No ATM fees on using ATMs…
UPI Would Be Now Available In Offline Mode, A Common App For All Bank Users; Dedicated Helpline For…
Paytm, a private company handles around 60-70 lakh transactions a day, while United Payment Interface (UPI), a path-breaking digital payment solution launched by Indian Govt. handles only 70,000 transactions a day.
This is certainly…
ICICI Bank Challenges Paytm’s Dominance With EazyPay – India’s 1st Merchant-Centric Cashless…
India’s largest bank: ICICI has just launched a unique mobile app called Eazypay, which can threaten Paytm’s dominance when it comes to merchant-centric cashless solution.
Described as India’s first such app, Eazypay allows the…
The Good, Bad & Ugly Of Demonetization Drive – 3 Case Studies
On the night of November 8th, India witnessed a financial coup, the scale of which was unparalleled in the entire human history. Demonetization of 86% of floating currency in the market meant a huge transformation in the way businesses…
Govt Announces Rs 340 Crore Lottery & Lucky Draws To Boost Cashless Economy
Taking a cue from the ‘cashback’ culture of ecommerce and digital startups, Govt. of India has decided to throw in Rs 340 crore worth of incentives for boosting cashless economy. The modus operandi is quite simple: Whoever transacts…