Payment banks can convert into small finance banks after 5 years
A minimum Rs 200 crore net worth is needed for the license of small finance bank, RBI said.
Postmen, grameen dak sevaks may soon start selling insurance policies
The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said. ln case the authority grants permission, IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, it added.
Startup investors writing more $100 million cheques this year
With the rush of capital and new types of investors coming in, venture capitalists said the time taken for startups to grow their business and rack up $100 million in funding has also shrunk over the past few years.
RBI to introduce new prepaid payment instrument for digital transactions up to Rs 10,000
RBI proposed to introduce a new type of prepaid payment instruments (PPIs) which can be used only for the purchase of goods and services up to a limit of Rs 10,000. You can load/re-load such PPI only from a bank account to pay your bills.
LIC waives off charges on credit card payments
LIC has said that any credit card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee its parlance, from December 1.
HDFC Bank’s Net banking, mobile app still down. Here's how to make credit card payments
Alternate channels to make credit card payments include ATM funds transfer, NEFT funds transfer using other bank accounts, over the counter cash payments (i.e., from a bank branch), cheque payments and autopay.
Aadhaar enabled payment system growth slows in FY20
AePS facilitates cashless transactions through biometric authentication. According to NPCI, which runs the platform, biometric-based transactions grew by 10% to 208 million transactions in October 2019 from 189 million in April. October usually sees high transactions because of the festive season and higher remittance from urban to rural areas.
Paytm payments bank eyes small fin model
Sharma said the payments bank will approach the government and the banking regulator for a small finance bank licence as it can leverage the model using technology enabled low-cost operations — a central theme of small finance banks, according to the RBI.
Zeta appoints Visa's top executive as president of its banking business
“Zeta’s platform will enable banks and fintechs to create and launch digital-first financial products with support for mobile payments, various payment networks, NCMC (national common mobility card) and much more,” said Nair.
UPI cash withdrawals in Bank of India soon
Public sector lender Bank of India (BoI) has already introduced this facility for its own customers, in partnership with Mumbai-based payments company AGS Transact Technologies.
Infra stocks with ‘Maha’ exposure fall up to 10%
Though stoppage of payment has posed a near-term uncertainty on big-ticket projects like Mumbai Metro and Mumbai-Nagpur expressway, it’s unlikely to go back to re-bidding process, said analysts.
Potential payment of past-due fees weighs on Bharti Airtel's credit profile: Moody's
Airtel, Voda Idea and other telcos face as much as Rs 1.47 lakh crore in past liabilities.
Compensation you get for poor services offered by insurers, banks, mutual funds, tax department
Did you know that financial services providers like banks, insurers and fund houses have to pay a penalty to you if they don't meet deadlines? Even the tax department is not free from this. Here is the compensation you can claim for poor services.
ET Awards 2019: Global Indian of the Year given to Ajay Banga, CEO of payments giant Mastercard
The jury’s choice for Global Indian of the Year is Ajay Banga, CEO of payments giant Mastercard.ET Awards 2019: Global Indian of the Year gi...
View: SBI's card unit's IPO reflects the Mukesh Ambani factor
SBI Cards IPO could have boundless prospects, or become a victim of arrested development.
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