Page 5 - Payment

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

RBI warns of risks from cross-border outsourcing of IT services

The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems.

Amid geo-political risks, RBI mulls domestic processing of transactions

In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

Over 11.8 mn payment devices deployed across country till April : RBI data

More than 4.11 lakh PoS, mobile PoS and other physical devices were deployed across the country under the Payments Infrastructure Development Fund (PIDF) scheme as on April 30, 2022, the RBI said

UPI most preferred payment mode among consumers with 56% share: study

That said, cards are still dominating the merchant acceptance payments ecosystem, with 26% market share by volume, 53% by value

'Return of advance to foreign buyer after 12 months requires RBI nod'

Therefore, please send a suitable request to RBI, through your bank, explaining the reasons for the failure to export and the delay in sending back the advance within one year.

'Buy now pay later' in lifestyle purchases showing non-payments: Report

Micro businesses in states like Bihar, Rajasthan and Madhya Pradesh have the highest non-performing assets, while the UT of Jammu and Kashmir is the best performer, the report by OkCredit said

Pay revision: Hundreds of Andhra Pradesh employees take to streets

Hundreds of employees and teachers marched on streets across Andhra Pradesh on Tuesday demanding that the orders on pay revision be withdrawn forthwith

Cabinet okays disbursement of additional compound interest waiver claims

238 million borrowers got waiver of interest-on-interest on loans up to Rs 2 crore

Bounce rates in December fall to their lowest since Covid-19 pandemic

December data indicates a good third quarter for banks on asset quality front

Ola to show drop location, payment mode to drivers before they accept ride

'Enabling drivers is key to reducing cancelations,' tweeted Ola co-founder and CEO Bhavish Aggarwal

FSS launches UPI e-voucher to advance financial inclusion

The UPI e-voucher enables customers to transfer funds for a specific purpose in real-time to any mobile number, regardless of whether the beneficiary has a bank account

Auto debit bounce rates drop further in October to touch pre-Covid levels

NACH data shows that of 86.6 mn transactions in October, 27 mn or 31.24% failed while 59.52 mn went through; In value terms, 24.83% of the transactions declined in October, lowest since Jan 2020

Sundaram Finance to create awareness on govt schemes like MSME Samadhaan

Under MSME Samadhaan, a portal for delayed payment has been created for empowering micro and small entrepreneurs across the country to directly register their cases relating to delayed payments

India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

Zomato sets up payments aggregator in compliance with RBI guidelines

The company's Red Herring Prospectus in July had mentioned this development; the wholly-owned arm has an initial capital of 10,000 equity shares of Rs 10 each

DDA extends last date for interest-free payment of cost of flats to Jul 31

DDA has extended last date for making interest-free payment of cost of flats by allottees of 2021 Housing Scheme to July 31 in view of the second wave of Covid pandemic

Telecom Watchdog wants govt to reject Vi plea for deferring payments

Vodafone Idea can raise funds through equity sale or promoters can infuse capital Telecom Watchdog said while demanding rejection of company's request seeking more time to pay dues of Rs 8,292 crore.

Haven't received any payment from Brazilian health ministry: Bharat Biotech

Madison Biotech was founded by Krishna Ella in 2020 for external R&D, sales and marketing of vaccines