Financial Transactions

Payment firms can process transactions abroad, but must store data only in India, says RBI

RBI's announcement was made to clarify its directive in April last year that mandated foreign firms to store their payments data “only in India” for “unfettered supervisory access”.

Blockchain can improve India's trade finance system but must address certain challenges: Report

Banks in India should start conducting proof of concept with blockchain technology to get a deeper understanding of its likely implication in trade and finance.

Govt extends deadline for Aadhaar, PAN linking with bank accounts to 31 March 2018

Govt last week informed the Supreme Court that it is willing to extend till 31 March the deadline for mandatory linking of Aadhaar to avail various services and welfare schemes

Govt, Sebi working to make Aadhaar compulsory for buying shares, mutual funds, says report

Currently, permanent account number (PAN) is mandatory for stock market transactions

Aadhaar made mandatory for opening bank account, financial transactions over Rs 50,000

Existing bank account holders have been asked to furnish the Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by 31 December, 2017, failing which the account will cease to be operational, according to a revenue department notification.

NIA to issue red corner notice against Zakir Naik, moves to revoke the preacher's passport

Having delivered more than 4,000 speeches on Islam across the world, controversial preacher Dr Zakir Abdul Karim Naik had allegedly influenced terrorists in Bangladesh to shoot at several foreigners.

Blockchain could be relevant in mobile payments system, services relying on Aadhaar and more

Bitcoins are just one application which uses Blockchain technology, but it could also be used for online signature services, voting systems and other applications

Demonetisation will make India data rich, make it difficult to do 'dishonest things', says Nandan Nilekani

There will be some amount of "short term pain" in the coming weeks on account of demonetisation

Decoded: What your PAN number reveals about you

There a lot behind the PAN number and it actually contains a bits of your personal information, that can tell a thing or two about you.

Maintain separate e-mail ids for social networking and banking: Symantec

If using the same email id across social networking accounts and financial transactions is your thing, then you may want to read further.