Page-5 of Digital Payments
Government launches Bharat QR code
The Union Government has launched Bharat QR code, a quick response (QR) code to enable digital payments without card swiping machines. It is world’s first interoperable payment acceptance solution launched by Indian Government to move towards less-cash economy. Key facts ..
Month: Current Affairs - February, 2017
Lok Sabha passes Payment of Wages (Amendment) Bill, 2017
The Lok Sabha has passed the Payment of Wages (Amendment) Bill, 2017 to enable employers to pay wages to workers through cheque or directly crediting to their accounts. The bill will replace the Ordinance promulgated by the President in December ..
Month: Current Affairs - February, 2017
ICICI Bank launches EazyPay app for Merchants
ICICI Bank, India’s largest private sector bank has launched EazyPay mobile application for merchants that allows all-in-one acceptance payments platform. This app consolidates all digital wallets, QR code, Unified Payments Interface (UPI), and credit & debit cards modes of payments. With ..
Month: Current Affairs - December, 2016
Union Cabinet approves ordinance to pay salaries by cheques
The Union Cabinet has approved a draft ordinance to empower states and allow industries to pay workers’ wages digitally, through a direct bank transfer to accounts or by cheque in a bid to encourage cashless transactions. The draft ordinance proposes ..
Month: Current Affairs - December, 2016
RBI opposes proposal to set up separate payments regulator
The Reserve Bank of India (RBI) has opposed a move to establish a separate entity to regulate payments and settlements as recommended by Ratan Watal Committee for Digital Payments. The 11-member committee was notified in September 2016 by the Union ..
Month: Current Affairs - December, 2016
Recommendations of Ratan Watal Committee for Digital Payments
The Committee on Digital Payments headed by Ratan P. Watal has submitted its final report to the Union Finance Ministry. It was 11-member committee notified in August 2016 by the Finance Ministry. It was tasked to review existing payment systems ..