Page-2 of Digital Payments
Digital Payments grew 30.19% during the Financial Year ended March 2021: RBI
RBI data has showed that digital payments in India have recorded a growth of 30.19% during the financial year which ended on March 2021, Highlights The newly constituted Digital Payments Index (RBI-DPI) in its report said that at the end ..
Month: Current Affairs - July, 2021
SBI Payments launch of ‘RuPay SoftPoS’
National Payments Corporation of India (NPCI) in association with the SBI Payments have announce to launch the ‘RuPay SoftPoS’ for millions of Indian merchants. This technology will be helpful in transforming the NFC enabled smartphones into merchant Point of Sale ..
Month: Current Affairs - March, 2021
Axis Bank Launches WhatsApp Banking
The Axis Bank has launched the WhatsApp Banking with the objective of helping and addressing the banking needs of its customers on March 3, 2021. The WhatsApp Banking will help the customer to use the bank anywhere and anytime on ..
Month: Current Affairs - March, 2021
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 ..
Month: Current Affairs - January, 2021
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 ..
Month: Current Affairs - October, 2020
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 ..
Month: Current Affairs - July, 2020
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 ..
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 ..
Recommendations of the Nilekani Panel for strengthening Digital Payments
The panel headed by Nandan Nilekani has submitted the recommendations to the Reserve Bank of India (RBI) for strengthening digital payments ecosystem. Recommendations of the Nilekani Panel The committee has listed a comprehensive set of regulatory interventions that will be ..
Nilekani Panel to strengthen the Digital Payments Ecosystem
The Reserve Bank of India (RBI) has constituted a high-level committee under Nandan Nilekani to suggest measures to strengthen the safety and security of digital payments in the country. Members of the Committee Nandan Nilekani will be the head of ..