Digitisation has to reach down to the village level as cash mode of transactions is always insecure, Jaitley said at an event.
"To date, there are more than 300,000 merchants who have deployed Bharat QR, the world's first globally inter-operable payments solution," said Ajay Bhalla, President of Global Enterprise Risk & Security at MasterCard.
Expressing confidence in India's ongoing reforms and the government's efforts to improve the "ease of doing business", billionaire and founder of Global Citizen Forum (GCF), B K Modi said, "The digitisation in the banking system is very strong".
Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give a momentum to the IT services industry, which was presently seeing single digit growth rates compared to the 15-20 per cent rise a few years ago.
Ushering in a new era by going paperless, the system envisages that bids are invited online and the entire process leading to award of a tender is done electronically.
"In this country, 22-26 per cent is shadow economy (ie illicit economic activities like black market transactions and undeclared income existing alongside the official economy)," the minister of state for finance said here.
The digitisation of the 7/12 receipts of 2.46 crore land title documents in Maharashtra, is expected to be over by the end of July 2017, instead of in May, as was envisaged earlier, a R
"At a time of global uncertainty, the only constant element that businesses and markets across the world will continue to face is technological disruption," USIBC chairman and CISCO executive chairman John Chambers said yesterday.
With 100 percent E-tenders and E-auctions already assimilated into the system, railways are further planning to build on these initiatives to achieve seamless flow of material, finances and information.
New entrant Jio has initiated a price war leading to prices for data plans – including for 4G -- falling in a big way. This has led to a shift in the way people consume data.
Nokia’s annual Mobile Broadband Index study shows that “4G was the major source of data traffic across the country in 2016 with 60% of the incremental data payload from 2015 levels contributed by 4G.”
Jewellery companies are in focus as the government has lowered the cap on cash transactions from Rs 3 lakh to Rs 2 lakh.
Every organised jewellery company will report good growth in the current quarter, said Sanjeev Bhatia, CFO, PC Jeweller.
Cognizant looking at sacking more than 6,000 employees this year. Company says standard practice but is this is an impact of automation?
The best performing currency is the Indian rupee trading at 16-month high and Vineet Nayyar of Tech Mahindra says it is a cause of concern but IT industry is resilient to manage this.
BJP leader Subramanian Swamy today said that revenue mobilisation through income tax has become redundant and it needs to be "scrapped" as there are plenty of other sources to generate funds.
Only 54% of the total 2.5 crore 7/12 receipts (a land title document) in Maharashtra have been digitised so far, a state government said. Maharashtra‘s revenue minister Chandrakant Patil, in December 2016, had announced R
The Survey has cautioned the government that it should use any windfall arising out of unreturned Rs 500 and Rs 1000 notes for capital expenditure rather than current expenditures like salaries and subsidies
The Reserve Bank of India (RBI) today removed cash withdrawal limits from ATMs from February 1. The central bank also removed limits from withdrwals from current, cash credit and overdraft accounts with immediate effect.
"If providers of PoS infrastructure don't make a reasonable return, that in some ways would inhibit growth of the acceptance infrastructure and that doesn't help the entire effort," its deputy managing director Paresh Sukthankar told reporters.
The commerce and industry minister said the debate here at WEF has been about the fate of globalisation and whether capitalism needs to be demonised.
In this episode of The Winning Leap, CNBC-TV18's Prashant Nair along with a few experts discuss about the need to secure personal data and intellectual properties along with a relook at how companies secure their physical assets against natural calamities, labour unrest and market volatilities.
With the National Food Security law being rolled out across the country, Paswan said the government will now focus on its proper implementation and complete major reforms in the PDS, including 100 percent Aadhar seeding of ration cards.
The third phase covers urban areas while the target for the fourth phase, which is to be achieved by March 31, is for rural areas.
rithvi Haldea, Chairman, Prime Database and Deena Mehta, MD, Asit C Mehta Investments are very upbeat on the NSE IPO. Haldea says 2016 was a good year for IPOs and 2017 looks even more promising.