Payment

Small businesses file applications worth over Rs 35,000 cr in payables

Over 137,000 complaints made, govt portal shows state govt dues are among the highest

Donald Trump invited to testify before New York grand jury: Report

Former president Donald Trump has been invited to testify next week before a New York grand jury that has been investigating hush money payments made on his behalf during his 2016 presidential campaign, according to a news report. The New York Times cited "four people with knowledge of the matter" in reporting that the invitation was made by the Manhattan district attorney's office. Such an invitation often indicates a decision on indictments is near. The district attorney's office declined to comment. A Trump spokesperson issued a statement that disparaged the investigation by Manhattan District Attorney Alvin Bragg, a Democrat, as politically motivated. Any indictment would mark the first time any former US president has been charged with a crime. It would come as Trump is ramping up a run to regain the White House in 2024 while simultaneously battling legal problems on multiple fronts. The district attorney in Atlanta, Georgia, has said decisions are "imminent" in a two-year ...

Morbi bridge case: HC asks Oreva to pay Rs 10 lakh to kin of each deceased

The Gujarat High Court on Wednesday directed clock manufacturing firm Oreva Group, the company that maintained the Morbi suspension bridge which collapsed killing 135 people in October last year, to pay Rs 10 lakh as "interim" compensation to the kin of each deceased and Rs 2 lakh to each injured within four weeks. A division bench of Chief Justice Sonia Gokani and Justice Sandeep Bhatt gave this direction to the company. The British-era suspension bridge on the Machchhu river in Morbi town collapsed on October 30 last year, killing 135 persons and injuring 56 others. The court ordered the company that the kin of each deceased and every injured person be paid interim compensation of Rs 10 lakh and Rs 2 lakh, respectively, within four weeks. On Tuesday, during a hearing of a suo motu (on its own) PIL admitted last year following the tragedy, Ajanta Manufacturing Ltd (Oreva Group) had offered to pay Rs 5 lakh compensation to the kin of those who died and Rs 1 lakh to the injured ...

Over 50 entities get in-principle approval for PA license; 28 under review

32 of those granted interim nod were already operating as online payments aggregators, 19 are new to the business

RBI to streamline charges for a safer, more affordable payments system

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

CAG pulls up CWC for incurring avoidable expenses of Rs 8.65 crore

Government auditor CAG on Tuesday pulled up the Central Warehousing Corporation (CWC) for incurring an avoidable expenditure of Rs 8.65 crore on account of improper planning in the acquisition of land, delay in the surrender of surplus land and payment charges. The Comptroller Auditor General of India (CAG) also said there were pending cases of execution of lease/title deeds in favour of CWC. Land acquired long ago (five years or more) was lying unutilised defeating the purpose of acquisition and resulted in blockage of funds. In addition, CWC neither disposed-off flats lying vacant for considerable time nor could utilise them alternatively, it said the report (for the years ended March 2020 and 2021) tabled in Parliament. According to the CAG, about 42 cases were pending for registration of title/lease deed in favour of CWC, since acquisition during 1964 to 2012. Maximum pendency of 66.66 per cent of non-execution of deeds was due to disputes with various government ...

BS BFSI Insight Summit 2022: Meet the leaders of digital, payments banks

From Airtel Payments Bank's COO Ganesh Ananthanarayanan to Parag Rao, Country Head for Payments Business, Consumer Fin, Digital Banking at HDFC Bank, here are panelists from digital & payment banks

WhatsApp Pay's India head steps down amid series of top-level departures

Vinay Choletti leaving as Meta-owned messaging platform ramps up investments in its payment service in India

IPPB revises charges for Adhaar enabled payments; here all you need to know

The India Post Payments Bank has increased charges for the Aadhaar Enabled Payment System service. The revised AePS Issuer transaction charges will be effective from December 1, 2022

Amazon rolling out option to pay using Venmo balance, linked bank account

Amazon is rolling out the option to use Venmo balance, a linked bank account, or an associated debit card for payments for its users

UPI transactions touch a record Rs 11.17 trillion in September, shows data

On a year-on-year (YoY) basis, volume of transactions was up 85.55 per cent and value of transactions was up 70.61 per cent during the same period.

Extending purview: RBI to regulate offline payment aggregators, too

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

System ready for tokenisation, says RBI deputy governor T Rabi Sankar

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end

The most-valued edtech start-up made headlines earlier this month after its FY21 numbers received an unqualified report from the company's auditor, Deloitte Haskins & Sells

Data monetisation should have consumer consent: RBI deputy governor

Last month, the government withdrew the Personal Data Protection Bill from the Lok Sabha and IT Minister had said the Centre was hopeful of getting a new legislation passed by the next Budget Session

National energy major IOCL enhances customer payment experience with Fiserv

Indian Oil Corporation Limited Enhances Customer Payment Experience with Fiserv

Credit cards gain more currency pipping debit cards for e-commerce

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

DICGC to make payments to depositors of 17 co-op banks in October

The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 cooperative banks, including eight from Maharashtra, in October. The Reserve Bank of India (RBI) had imposed several restrictions, including on withdrawals, by depositors of these 17 banks in July in view of their deteriorating financial positions. DICGC, a wholly-owned subsidiary of the RBI, provides an insurance cover of up to Rs 5 lakh on bank deposits. Of the 17 cooperative banks, eight are in Maharashtra, four in Uttar Pradesh, two in Karnataka, and one each in New Delhi, Andhra Pradesh and West Bengal. The cooperative banks from Maharashtra are: Sahebrao Deshmukh Co-operative Bank, Sangli Sahakari Bank, Raigad Sahakari Bank, Nashik Zilla Girna Sahakari Bank, Saibaba Janata Sahakari Bank, Anjangaon Surji Nagari Sahakari Bank, Jaiprakash Narayan Nagari Sahakari Bank, and The Karmala Urban Co-op Bank. As per the DICGC, the banks from Uttar Pradesh whose eligib

Mswipe Technologies gets RBI approval for payment aggregator's licence

Joins companies allowed to manage and process merchants' online transactions