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18 search results for "digital payments"

Ministry of Finance clarifies that the provisions of section 269SU of the Income-tax Act shall not be applicable to B2B transactions

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Context In a move towards a less-cash economy, a new provision namely Section 269SU was inserted in the Income-tax Act, 1961, vide the Finance (No.2) Act 2019. This section requires every person carrying on business and having sales/turnover/gross receipts from business of more than Rs 50 crore in the immediately preceding previous year to mandatorily provide facilities for accepting payments thro...

#TechFightsCovid: Top 5 Digital Payment Methods – Boon Amidst Crisis

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The COVID-19 pandemic has indeed affected markets and industries across the globe sparing none. The payments industry is not spared either – but with a pinch of positivity – with digital payments seeing a huge uptick since the covid-19 outbreak. Cash exchange and exchange of physical banknotes and coins is a big threat to the spread of the covid-19 virus and has led to huge public concerns about v...

Jio Platforms – Silver Lake Deal Analysis: A Step Closer to Digital Economy 2.0

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US private equity firm Silver Lake announced an investment of USD 747 million (INR 5,655.75 crore) in Jio Platforms for a 1.15% stake on 4th May 2020, striking a deal with Jio less than two weeks after Facebook’s investment into Jio Platforms. The deal values Jio at $65 billion – a 12.5% premium to the value indicated by Facebook. Silver Lake is a globally respected private equity firm...

Facebook-Reliance Jio Deal Analysis – The Birth of Digital Payments 2.0?

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With more than half a billion internet subscribers, India is one of the largest and fastest-growing markets for online consumers, but adoption of online payments is uneven among businesses, regions, and sectors. India as a digital economy has certainly seen an upswing in the recent few years as a result of demonetization, launch of UPI based online payments, Aadhaar enabled digital payment system,...

#TechFightsCovid: Top Disruptive Fintech Technologies Amid CoVID-19 Crisis

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Gazing through the window of your living room, amidst the corona virus pandemic which has impacted almost every part of the economy, have you ever pondered what can be the next big game changer? Digital-only interactions undoubtedly will be the new standard amidst the CV-19 crisis with almost every institution scurrying to transform digitally to ensure survival. Fintech has the power to totally di...

Is FINTECH Immune to Corona Virus?

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As there is a lot of hustle and bustle around the world due to Covid-19 or commonly called as Corona Virus spread across, people are having second thoughts about reaching for cash. The coronavirus outbreak has impacted both financial markets and consumer sentiments; and with the ongoing liquidity concerns and lockdown situations it seems there’s more trouble brewing for financial institutions and ...

Policy Update- RBI to create Digital Payments Index to capture extent of digitisation

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Context On 6 February 2020, the Reserve Bank of India (RBI) made significant announcements pertaining to the fintech sector. These include creation of a Digital Payments Index to capture the extent of digitisation and establishment of Self-Regulatory Organization for digital payments system. This is a part of various developmental and regulatory policy measures for improving credit flows to certai...

Policy Brief: Highlights of the new type of semi-closed PPI introduced by RBI

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Context On 24 December, the Reserve Bank of India (RBI) released the specifications of the new type of semi-closed PPI. The Central Bank said that the directive is issued under Section 18 read with Section 10(2) of Payment and Settlement Systems Act, 2007 and is effective from the date of issuance of the circular. Accordingly, the Master Direction on Issuance and Operation of Prepaid Payment Instr...

Building Digital Payments

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Making Digital Payments easier in India.

Policy Update: New push to digital payments by RBI

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Context On 8 November, the Reserve Bank of India (RBI) announced a slew of measures to promote digital payments in the country. This includes, greater push to interoperable payments systems, waiving off the National Electronic Funds Transfer (NEFT) charges, expanding the use cases for QR code, adding more features to Unified Payments Interface (UPI), among others. The move is a part of RBI’s conti...

Policy Update: RBI announces the opening of first cohort under the Regulatory Sandbox

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Context In a move to promote technological innovations aimed at financial inclusion, the Reserve Bank of India (RBI) had proposed to set up regulatory sandboxes where startups could test new products, services or business models with customers in a live environment, subject to certain safeguards and oversight. On August 13, 2019, the central bank released the final Enabling Framework for Regulator...

NASSCOM Invite:Policy Roundtable on Regulation of Digital Payments-New Delhi

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Dear Members, NASSCOM is organizing a policy roundtable on regulation of digital payments on October 16, 2019, Wednesday in New Delhi. Time: 11 am to 1 pm (followed by lunch) Venue: “Marigold” Habitat World, at India Habitat Centre, Lodhi Road New Delhi-110003 (Entry from gate number 1 on Lodhi road) RBI has recently released the discussion paper on guidelines for payment gateways and payment aggr...

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