Digital Payments Current Affairs, GK & News
RBI Digital Payments Index
The Reserve Bank of India recently released the Digital Payments Index to measure the growth in cashless transactions in India. What are the parameters of the Digital Payments Index? The Digital Payments Index comprises of five broad parameters. These parameters have different weight to measure the penetration of digital payments in the country. The parameters ..
Month: Current Affairs - January, 2021
Category: Economy & Banking Current Affairs • Reports & Indexes Current Affairs
Topics: Digital Payment • Digital Payment Index • Digital Payments • Digital Payments Index • Reserve Bank of India (RBI)
RBI to set new QR code rules to change payment picture of India
The Reserve Bank of India recently ordered payment system operators (PSO) from launching new proprietor QR code for transactions. The apex Bank asked the PSOs switch to at least 1 interoperable QR code. This is to to use the same QR code across multiple payment applications. This is being done by the Reserve Bank of ..
Month: Current Affairs - October, 2020
Category: Economy & Banking Current Affairs
Topics: american express • Android • Digital Payments • Mastercard • mobile application • National Payments Corporation of India • QR code • Reserve Bank of India • visa card
2.2% of Digital Payment Market will be contributed by India by 2023: PwC Report
A study conducted by the Payments Council of India and management consulting group PricewaterhouseCoopers has estimated that around 2.2% of the world’s digital payments market will be controlled by India by the year 2023 and the financial value of such transactions should reach $12.4 trillion globally by the year 2025. The report, titled as ‘Empowering ..
Month: Current Affairs - July, 2020
Category: Economy & Banking Current Affairs
Topics: Digital Payments • Payments Council of India • PricewaterhouseCoopers • PwC
Digital payment ecosystem in India
Demonetization and the government’s push towards digital payments has opened the market to several platforms which are not only more convenient but also provide greater flexibility to the people using them. Digital payment ecosystem in India As per a study prepared by the Assocham-PWC India, it is expected that India will see the fastest growth ..
Topics: demonetization • digital economy • Digital Payments • UPI • Watsapp
Budget 2019 : Digital payments
To further encourage people to use digital payments as the preferred mode of their transactions, the Union Budget has announced the following measures to make digital payments successful- A 2% tax deduction at the source is proposed for all cash withdrawals exceeding Rs 1 crore in a year from a bank account. To encourage a ..
Topics: BHIM • Digital Payments • MDR • Union Budget 2019 • UPI