E-wallets

The use of e-wallets for MF investments was allowed in 2017 to promote digitisation

Binance said it provided Zanmai wallet services "only as a tech solution for their operations of the WazirX exchange"

Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets

Note, however, that you can only do this if you have completed your KYC

Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf

sRide is a carpooling mobile app that connects people within the community to share rides. It is present across four Indian cities with over one million rides offered and 8 cities in the US

The 85% YoY revenue growth was due to a rise in transactions. PhonePe has a lion's share of the volumes on United Payment Interface and Bharat Bill Payment System

Keep the cryptos required for trading in the former and the balance in the latter

Will help those who can't ensure minimum balance

The blog suggests a central bank digital currency may be designed to encourage the private sector to innovate on top of it

The Covid-19 pandemic has accelerated the adoption of digital payments in India

Since RBI has made KYC mandatory, many fraudsters use this as entry point

Senior police officials instructed to complete the preliminary rollout of the cyber cells by October 15

The earlier deadline was February 28

A payments expert said this was already a process; only the window of reporting the fraud had been increased

Mobile digital payments have increased rapidly post demonetisation

This has resulted in a steep fall in PPI transactions and some estimates suggest the business is down almost 50 per cent

RBI has assured of interoperability among mobile wallets,but said all entities would need to have a minimum net worth of Rs 5 crore at the time of application for e-wallet operation

Inter-operability to help players increase business

In the months after demonetisation, average transaction value, however, fell 12% quarter on quarter