Prime Minister Narendra Modi's push to digitize the Indian economy has seen the introduction of Aadhaar — a unique identification number based on biometric information issued to residents of India — and attempts to reduce dependency on physical cash, although last November's surprise demonetization drive caused plenty of disruption.
The Reserve Bank of India is soon likely to issue clarifications on the guidelines for peer-to-peer (P2P) lending platforms relating to the lending limits, trusteeship and other operational norms.
Paytm customers can get access to instant credit for everyday use-cases ranging from movies to bill payments to flights to physical goods
At Gurugram in a conclave titled Vichar Manthan over two-days, seven groups led by a PSB chief executive officers will give presentations on topics such as credit growth, NPAs and insolvency, digital payments and financial inclusion, responsible and responsive banking, among others.
"Excessive dependence on cash has its cost. It is not just cost but it is a curse on both society and economy," he said at an event organised by Punjab National Bank (PNB) here.
According to a global survey by KellyOCG, about 55 per cent of respondents comprising 522 companies across the globe (including India), believe that digital innovation for recruitments is going to be the new normal.
"Digital transaction can check corruption and bring transparency along with solving unemployment problems," Gohain, the Minister of State for Railways said while participating in the Mudra Promotion Campaign organised here.
Spread over 44,000 sq ft, the space will allow Amazon India's sellers (right from international brands like Marks and Spencer to smaller players) access digital imaging facilities.
SC stayed insolvency proceedings against Jaypee Infratech, RBI declared HDFC Bank as “too big to fail bank” but RBI’s former head Raghuram Rajan stole the cake talking about demonetisation at the launch of his book “I Do What I Do”
In a letter to Finance Minister Arun Jaitley, Confederation of All India Traders (CAIT) has said the linkage of digital payments with sale of liquor could also curb black money to a great extent.
Talking to senior bank officials here, Das said making new Jharkhand would assist in Prime Minister Narendra Modi’s dream of new India and the role of banks would become important.
Responsible lending aims at making a better and safe marketplace for all the lenders and borrowers so that there is no exploitation of the people and technology helps to maintain that relationship
Dilip Asbe will be the CEO-in-charge till a new incumbent assumes charge. Hota was the first MD & CEO of NPCI since August 23, 2010.
India needs to have its own platform for easy and dependable services, say experts
Following the transaction, SBI and Carlyle will own 74 percent and 26 percent, respectively in each of the two entities. According to reports, Carlyle was in talks to buy the 26 percent stake for Rs 2,000 crore.
Innoviti Payment Solutions backed by Infosys co-founder N.R. Narayana Murthy-promoted Catamaran Ventures, has raised Rs 120 crore (about USD 18 million) in its second round of funding from SBI-FMO and Bessemer Venture Partners
Ericsson had said in 2014 it would diversify so that by 2020 up to 25 percent of revenue would come from industries beyond telecoms. But the plan has not worked and and the compnay will focus on the core business of mobile networks.
RBI Deputy Governor SS Mundra came down heavily on banks for charging customers exorbitant and high service charges including for minimum balance maintenance, mis-selling of third party insurance products, etc.
Banks have also asked employees to exercise caution while browse websites, including Gmail and Facebook, while implementing other precautionary measures to avoid future malware attacks.
Watch accompanying videos of the Launch of 100 ICICI digital villages wherein the panellists are discussing deliberately upon how digital elements are playing out.
From a role confined to maintenance of IT infrastructure, chief information officers (CIOs) of enterprises now find themselves improving business processes, according to the The EY-CIO Klub Enterprise IT Trends and Investments Survey 2017.
This fund has th an aim to get to Rs 400 Crore in the next 3-4 years. He said that he will raise the rest from other like-minded individuals and corporates committed to build this eco system of tomorrow as well as from corporate social responsibility funding.
According to R Gandhi, recently retired as the Reserve Bank of India’s Deputy Governor said, "Right now we are trying to do all things including Aadhaar Pay, UPI, BHIM and simultaneously trying to work on MDR (merchant discount rates) on card payments."
Technology and data analytics have been put to good use by many fintech players such as Artoo, Innoviti, ArthImpact, FlexiLoans and others to explore the largely untapped market.
"The training programme has started on April 8 and will continue till April 14 (the birth anniversary of Dr Bhimrao Ambedkar). During this week, BJYM will train about 15 lakh youths about BHIM App," he said.