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Cashless Economy News
India a cashless economy? Digital transactions continue to rise, UPI gains popularity; know how digital payment industry see ache din
Fri, Nov 30, 2018
Not many regions especially the rural areas, have been comfortable in using digital portals. However, electronic payment system has been a success story for the NDA government.
Will govt take measures to upgrade digital infra in Budget 2018?
Thu, Jan 25, 2018
Transactions through digital means rose 6.05% to 1.06 billion in December 2017 from 997.1 million in November.
No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI
Mon, Sep 11, 2017
Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have been scrapped)", the RBI clarified later this evening.
Demonetisation may have hurt more than it helped
Sat, Sep 02, 2017
It will take time for the economists to figure out whether the fall in the growth rate to 5.7 per cent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between the two steps and a slowing down of the
Has demonetisation helped India become a less-cash economy?
Fri, Sep 01, 2017
On November 08, PM Narendra Modi banned old Rs 500 and Rs 1000 with an objective to tackle black money, make India a cashless economy and expand the country's tax-base.
Online banking services: E-wallets vs Internet banking; which one should be in your smartphone
Sun, Aug 20, 2017
Minister for electronics and information technology Ravi Shankar Prasad said, there were around Rs12,000 crore worth of digital transactions every year and the number of fraudulent transactions among these was low.
SBI Card: Here are 10 key things about SBI Card Unnati
Fri, Jun 02, 2017
SBI Card had earlier this year launched SBI Card Unnati wherein it has waived off Rs 499 on the subscription of this credit card for the first four years and users have to pay the renewal fee of Rs 499 only from the fifth year of its subscription.
HDFC Bank introduces UPI platform on Chillr; likely to benefit 44 banks' customers
Fri, Apr 07, 2017
HDFC Bank on Friday announced the launch of Unified Payments Interface (UPI) on its multi-bank mobile payments banking app Chillr in Mumbai.
Majority of consumers willing to adopt mobile payments: Report
Sun, Feb 19, 2017
The survey asked 1,000 consumers about their attitudes towards using their mobile phones to make purchases. It found that 93% of respondents were interested in using electronic payments more often.
Over 8 lakh people win Rs 133 crore under digital payment scheme
Sun, Feb 12, 2017
"It's 50 days of our #DigiDhanMelas and over 8 lakh people have won Rs 133 crore already! 50 more days to go.", Niti Aayog said in a tweet.
Banks rush to buy cyber security cover as digi payments rise
Sun, Feb 12, 2017
"We have always seen maximum security in all our IT systems. We are now considering to avail cyber insurance covers for our customers," SBI managing director Rajnish Kumar told PTI here.
BHIM app now available on iOS platform
Sat, Feb 11, 2017
Finally iOS users can now send and receive money via BHIM app. They just have to download the app through App Store by searching ‘BHIM NPCI app’ . After installing, the icon will appear on your iPhone. However, BHIM does not work on the non-cellular iPAD’s.
Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions
Mon, Jan 23, 2017
Find out what are Budget 2017 expectations of payment gateway companies like Telr, Payoneer, Atom Technologies, TechProcess Payment Services, RazorPay, Chillr, Happay and PayU India.
Over 3 lakh consumers & 20,000 merchants receive prizes worth nearly Rs 61 crore in govt's digital payment schemes
Thu, Jan 19, 2017
Over 3 lakh consumers and more than 20,000 merchants have received prizes worth nearly Rs 61 crore at the government's recently started digital payments scheme titled 'Digi-Dhan Melas'.
PM Modi launches UPI app BHIM; here's how to use it
Fri, Dec 30, 2016
All the banks, which are currently live on UPI, have been listed in the Bharat Interface for Money app.
With 950 million Indians without internet digital drive needs reality check: Report
Mon, Dec 26, 2016
Internet penetration in India still remains to be one of the biggest problem to moving to a cashless economy.
Know everything about how to use Aadhar app to make payments
Sun, Dec 25, 2016
With its vision to make India's cashless economy, the government is set to launch 'Aadhaar Payment App' on Sunday.
After corruption charge, Modi mocks at Rahul
Thu, Dec 22, 2016
"Had he not spoken, the county would have faced a big earthquake. And the country could not have recovered for 10 years," Modi said sarcastically at an event at the Banaras Hindu University (BHU) in Varanasi, his Lok Sabha constituency.
Are you an SME? We explain how to take advantage of income tax on digital turnover
Wed, Dec 21, 2016
Earlier this week, finance ministry had rolled out a benefit of lower income tax rate, under section 44AD, for small businesses with turnovers up to Rs 2 crore if it were in digital/banking transactions.
Cess on cash handling, levy on digital payments minimal, says Amitabh Kant
Sat, Dec 17, 2016
Cash shortage following the demonetisation of high value currency notes will end by mid-January, NITI Aayog CEO Amitabh Kant said on Friday while hinting that cash handling would be dearer in future by way of a cess.