Financial Transactions

Asset management companies fear 'transaction fee burden' on margins

Online mutual fund platforms are set to get a go-ahead to charge transaction fee

Large Indian lenders shun direct rupee transactions in Russia trade: Report

Large Indian lenders are reluctant to process direct rupee trade transactions with Russia months after the mechanism was put in place for fear of becoming the target of sanctions by the United States

Modest traction for MF Central in first year, phased rollout cited

The common platform for MF transactions logs 350,000 registrations and 10,000 monthly logins

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

I-T dept finds unaccounted transactions of over Rs 1K cr during searches

Income Tax Department said it had carried out a search and seizure operation on July 20 on the premises of a prominent business conglomerate engaged in diversified fields

Have big unexplained expenses? You can face IT review of past 10 years

IT sleuths can now trace all transactions of an individual, if they are not 'benami'. New reassessment regime allows them to probe any transaction worth Rs 50 lakh or more in the last 10 years

BSE StAR MF registers 14.1 million transactions worth Rs 36,277 cr in Aug

BSE on Tuesday said its mutual fund distribution platform StAR MF has processed a record 14.1 million transactions worth Rs 36,277 crore in August

As electronic transactions surge, it's boom time for tech fraud fighters

Pandemic pushes companies to police e-transactions; financial services firms and e-commerce companies are among the major drivers of demand

ATM networks will have to be reinvented to face the onslaught of technology

Demonetisation provided the first serious wake-up call that cash will not be king for long, and the business of vending it will have to be reworked

Explained: How RBI's positive pay system safeguards cheque transactions

While it will make payments via cheques safer, it will also make the process a tad cumbersome, especially for people who issue high-value cheques frequently but are not tech savvy

SWIFT is a unique platform, says CEO Kiran Shetty

The platform enables financial institutions to send and receive information about financial transactions in a secure environment

Rs 20,000 hotel bill, Rs 50,000 insurance premium may come under I-T lens

In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency

Income Tax dept adds new features in 26AS Form to help taxpayers

The new variant of 26AS Form will have taxpayers' details as specified statements of financial transactions (SFTs) in various categories

Core banking transactions soar 400% in 2017 on digital agents: Report

Transactions via core banking services have seen a 400 per cent spike in 2017 on increasing use of agent points for financial transactions along with government-to-people facilitation services, says a report. "This has translated to higher monthly median revenue and profit, which doubled from their 2015 levels-from USD 40 to USD 93 and USD 16 to USD 31,respectively," a study by financial inclusion consulting firm MicroSave in partnership with Bill & Melinda Gates Foundation said today. Almost two-thirds of the agents conduct interoperable transactions, finds the report. While about 70 per cent of interoperable agents offer cash-in services, about 60 per cent offer cash-out and remittances for other banks, it said. "This also explains the reduction in the number of non-exclusive agents, as agents no longer need to be associated with multiple providers to be able to serve more customers, it is a common learning that interoperability offers benefits for the wider ...