MDR Current Affairs, GK & News

Update : Digital Transactions in India

July 12, 2019

India’s largest bank, the State Bank of India, has waived the NEFT and RTGS transactions on the payments carried on the internet and mobile banking from July 1. This comes on the heels of an earlier Reserve Bank of India order to do away these charges to promote a cash less-cash economy in the country. ..

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Budget 2019 : Digital payments

July 6, 2019

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 ..

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Recommendations of the Nilekani Panel for strengthening Digital Payments

June 4, 2019

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 needed to achieve the goal of a less-cash economy. The recommendations include: Easing KYC costs ..

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