Digital Transaction

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Digital Transaction - Total results - 18
Demonetisation achieved its objectives quite substantially, says finance ministry
Business

Demonetisation achieved its objectives quite substantially, says finance ministry

Economic Affairs Secretary S C Garg said objectives of the note ban, like checking black money, terror financing, promoting digital transaction and weeding out fake currency notes have been achieved.

GST: Ministerial panel favours deferment of sops for digital payments; want reverse charge mechanism removed
Business

GST: Ministerial panel favours deferment of sops for digital payments; want reverse charge mechanism removed

To incentivise digital transactions, the GST Council in its last meeting in May had discussed giving a concession of 2% in GST rate (where the tax rate is 3% or more) to consumers making payment through cheque or digital mode.

Retail lending sees rapid growth in FY18 with loan book rising by 25%, number of accounts by 32%: Cibil data
Business

Retail lending sees rapid growth in FY18 with loan book rising by 25%, number of accounts by 32%: Cibil data

The report found robust growth in all consumption lending products consumer durable loans, credit cards and personal loans - during the period under review

Mobile banking to overtake internet banking as half of the digital transactions are happening on mobile, says ICICI
News & Analysis

Mobile banking to overtake internet banking as half of the digital transactions are happening on mobile, says ICICI

According to B. Madhivanan, around half of the digital transactions of savings account are taking place on mobile banking.

In a big push to 'cashless economy', govt waives MDR charges for digital transactions up to Rs 2,000
Business

In a big push to 'cashless economy', govt waives MDR charges for digital transactions up to Rs 2,000

Ravi Shankar Prasad was briefing the media about the Union Cabinet scrapping MDR for debit card payments and other digital transactions

Govt to discuss MDR rate issue with RBI, says finance ministry official
Business

Govt to discuss MDR rate issue with RBI, says finance ministry official

The government will hold deliberations with the Reserve Bank of India (RBI) to work out a mechanism for bringing down merchant discount rates (MDR) which have increased from 0.25 percent of transaction value to 0.90 percent recently, a finance ministry official said.

Digital payment transactions increased dramatically; expected to touch 1,800 crore in 2018
News & Analysis

Digital payment transactions increased dramatically; expected to touch 1,800 crore in 2018

Alphons pointed out that digital payment system is reaching out to the villages but it needs to reach more people.

Cashless economy: Govt hopes 1,800 crore digital payment transactions will take place in 2018 financial year
Business

Cashless economy: Govt hopes 1,800 crore digital payment transactions will take place in 2018 financial year

The scale and value of digital payment transactions underscored how these new forms of payment had reached the masses, govt said

At HT Leadership Summit, Narendra Modi lauds JAM trinity, says Aadhaar will help govt weed out benami properties
Business

At HT Leadership Summit, Narendra Modi lauds JAM trinity, says Aadhaar will help govt weed out benami properties

At HT Leadership Summit, Narendra Modi says country saw a behavioural change after demonetisation which helped achieve a clean and healthy economy.

Cheque book ban: No proposal to withdraw facility to promote digital transactions, clarifies FinMin
Business

Cheque book ban: No proposal to withdraw facility to promote digital transactions, clarifies FinMin

The clarification comes in the backdrop of reports in a certain section of media that there is a possibility that the central government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.

Digital world to create new, highly skilled jobs; India must not miss fourth industrial revolution: Amitabh Kant
Business

Digital world to create new, highly skilled jobs; India must not miss fourth industrial revolution: Amitabh Kant

Amitabh Kant says in digital or connected world, manufacturing will become customer-centric

IT spending in Indian banking sector to see 11.7% jump to hit $9.1 bn as banks turn to contactless payments
Business

IT spending in Indian banking sector to see 11.7% jump to hit $9.1 bn as banks turn to contactless payments

As part of their increased IT spending, top banks in India are investing heavily into contactless payment

Samsung Pay adds one million users in India over the past one and half months
News & Analysis

Samsung Pay adds one million users in India over the past one and half months

During the launch Samsung Pay was available through 10 models and has expanded it to 26 models since then.

India cannot lag behind in the digital currency era, says Prime Minister Narendra Modi
News & Analysis

India cannot lag behind in the digital currency era, says Prime Minister Narendra Modi

It has been changing from time to time. Now an era of digital currency has started and India should not lag behind," said, Modi.

Blockchain technology that enables bitcoin may increase productivity and innovation in the future
News & Analysis

Blockchain technology that enables bitcoin may increase productivity and innovation in the future

Blockchain technology is a type of distributed ledger or decentralised database that keeps records of digital transactions.

Demonetisation day 30: Govt’s digital push is laudable, but its black money focus is fading
Business

Demonetisation day 30: Govt’s digital push is laudable, but its black money focus is fading

A cost-benefit analysis of demonetisation will have to be done once the government is done with the process and that’ll happen sooner than later.

Demonetisation: Bhavin Turakhia's Zeta launches SuperCard for fraud-free online, offline transactions
Business

Demonetisation: Bhavin Turakhia's Zeta launches SuperCard for fraud-free online, offline transactions

"While demonetisation is a great push for the transformation into a cashless economy, the threat of digital transactions falling prey to frauds can prove to be an impediment in the process.

Budget 2015: Eliminate physical cash, says TechProcess CFO
Business

Budget 2015: Eliminate physical cash, says TechProcess CFO

The Govt must introduce rules to deem cash transactions above certain value illegal; charge a fee on large cash withdrawals with additional scrutiny; and announce tax rebate for businesses accepting electronic payments.