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Cash transactions

PhonePe launches 'Bolt', a revolutionary payment gateway for in-app transactions

PhonePe launches 'Bolt', a revolutionary payment gateway for in-app transactions

Thu, Aug 29, 2024

PhonePe PG Bolt boasts a 1-second transaction time, offering the broadest reach for registered PhonePe merchants. Users can easily integrate their payments across various apps without the hassle of multiple onboarding processes.

As consumer avoids cash, card payments market set to expand to Rs 28 lakh crore in India this year: Data analytics firm

As consumer avoids cash, card payments market set to expand to Rs 28 lakh crore in India this year: Data analytics firm

Wed, Jul 24, 2024

This growing preference for card payments is reflective of broader consumer trends in online shopping. To support the expansion of electronic payments, the Reserve Bank of India (RBI) established the Payments Infrastructure Development Fund (PIDF) in January 2021, according to data and analytics company GlobalData.

GVK's Keshav Reddy bets big on India's Digital Public Infrastructure with ID platform Equal

GVK's Keshav Reddy bets big on India's Digital Public Infrastructure with ID platform Equal

Wed, Aug 16, 2023

Keshav Reddy and Rajeev Ranjan have introduced a platform enabling easy and secure sharing of digital identities and documents with a single click.

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6-12 hour gap between ATM withdrawals

6-12 hour gap between ATM withdrawals

Tue, Aug 27, 2019

ATMs might soon place 6-12 hour gap between cash withdrawals: Report

Money transfer: NEFT vs RTGS - Comparison of charges, limit and more

Money transfer: NEFT vs RTGS - Comparison of charges, limit and more

Mon, May 27, 2019

Over a decade things have changed and one would agree that the most traditional form of transferring money anywhere were National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS).

Be Aware! Real Estate, Firms careful in dealing with cash ahead; CBDT warns with new rules

Be Aware! Real Estate, Firms careful in dealing with cash ahead; CBDT warns with new rules

Sun, Jun 24, 2018

The Narendra Modi government has been pushing digital payments for quite some time now, especially since the time of demonetisation announcement.

Indians are more trusting of social media sites than others world over

Indians are more trusting of social media sites than others world over

Mon, Oct 16, 2017

Majority of Indians are not particularly concerned about their digital privacy yet. While those in the developed nations are facing a 'trust divide' with their personal data and social media sites.

Adoptions rise but mobile wallets still less than 1% of all digital transactions

Adoptions rise but mobile wallets still less than 1% of all digital transactions

Fri, Aug 25, 2017

Mobile wallets that were glorified during the demonetisation era were just 1% of overall value transactions in FY17.

Every citizen can combat against black money: PM Modi

Every citizen can combat against black money: PM Modi

Sun, Mar 26, 2017

Modi said that with a firm resolution India can see 2.5 crore digital transactions within next six months rather than waiting for a year.

Govt removes 1% TCS on cash purchase above Rs 2 lakh

Govt removes 1% TCS on cash purchase above Rs 2 lakh

Thu, Mar 23, 2017

The government has done away with the 1 % tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.

Domestic tractor manufacturers to register 16 to 18% sales growth in FY17: Crisil

Domestic tractor manufacturers to register 16 to 18% sales growth in FY17: Crisil

Tue, Mar 07, 2017

Crisil Research on Tuesday said domestic tractor manufacturers are projected to record 16 to 18% growth in sales of tractors for FY17 on account of revival of sales due to good monsoon which offset the impact of demonetisation on demand in the second half of the fiscal.

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

Thu, Mar 02, 2017

To discourage cash transactions and boost the digital payments, banks like HDFC Bank and others have started charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

Banks look to charge withdrawals as cash crunch eases

Banks look to charge withdrawals as cash crunch eases

Thu, Mar 02, 2017

Prime Minister Narendra Modi-led Government is foucssed on making India a less-cash society. In this bid, the government has taken many initiatives to promote digital currency and dissuade citizens from using cash. The latest step in this direction is banks charging customers for withdrawing their own cash.

10 lakh bankers go on strike today; will your salary credit be affected?

10 lakh bankers go on strike today; will your salary credit be affected?

Tue, Feb 28, 2017

About 10 lakh bankers have observed one-day strike across India on Tuesday to protest against the government's "anti-people banking reforms" and to press their demands to the government for compensation for the extra work done during the demonetisation period.

Cash no longer king? Swiss National Bank begs to differ

Cash no longer king? Swiss National Bank begs to differ

Mon, Feb 27, 2017

The Swiss central bank sought on Monday to allay fears among citizens that bank notes could eventually be phased out as a result of global money-laundering rules or the rise of alternative payment systems.

Tax Dept asks taxpayers to e-verify deposits post note ban

Tax Dept asks taxpayers to e-verify deposits post note ban

Thu, Feb 02, 2017

As the Income Tax Department uses Big Data to catch evaders, it is asking taxpayers to verify online the deposits they made in their accounts post demonetisation and respond to queries of any mismatch.

Here are key highlights of Union Budget 2017

Here are key highlights of Union Budget 2017

Wed, Feb 01, 2017

Read the key highlights of India's Union Budget 2017-18 presented on February 1, 2017

Income Tax Department launches Operation Clean Money to verify demonetisation data with tax payers' filings

Income Tax Department launches Operation Clean Money to verify demonetisation data with tax payers' filings

Tue, Jan 31, 2017

India's Income Tax Department has launched Operation Clean Money on Tuesday to verify deposited demonetised notes with tax payer's IT filings.

From reviving consumption to creating jobs: These are 5 key themes of Modi's Budget 2017

From reviving consumption to creating jobs: These are 5 key themes of Modi's Budget 2017

Fri, Jan 27, 2017

Budget 2017 will be based on five key themes right from reviving the capex cycle, rural economy to creating jobs.

Demonetisation drive to favour country's big gold jewellery store chains: World Gold Council

Demonetisation drive to favour country's big gold jewellery store chains: World Gold Council

Tue, Jan 24, 2017

India`s drive to bring transparency to bullion trading, along with the rise of branded gold jewellery, could help major retailers raise their share of the world`s second-biggest gold market to 40% by 2020, the World Gold Council (WGC) said.

Digital banking may eat into ATM business

Digital banking may eat into ATM business

Fri, Dec 02, 2016

According to V. Balasubramanian, President, Financial Software and Systems (FSS), the demand for ATMs is unlikely to be affected in the next couple of years, but "it is not possible to make a growth estimate after two years given the changed situation".

Ensure 100% cashless dealings within 15 days deadline: Ram Vilas Paswan

Ensure 100% cashless dealings within 15 days deadline: Ram Vilas Paswan

Sat, Nov 26, 2016

To promote cashless work culture, Food Minister Ram Vilas Paswan on Friday gave 15 days deadline to his ministry officials to put in place a mechanism and ensure there is 100% cashless dealings at all levels.

Demonetisation impact: Car, bike sales to feel the heat

Demonetisation impact: Car, bike sales to feel the heat

Fri, Nov 11, 2016

Automobile sales could be impacted in the coming month as sales in many rural parts of India was done earlier using cash transactions.

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