AePS Security: How RBI Plans to Combat Fraud
What is AePS Security and why is it popular? Aadhaar-enabled Payment System (AePS Security) is a biometric-based payment system that allows users to access their bank accounts using their Aadhaar number and fingerprint or iris scan. AePS enables users to perform basic banking transactions such as balance enquiry, cash withdrawal, cash deposit, fund transfer, and […]
MSE Payments: Businesses Navigate New Tax Law
The new tax law under Section 43B (h) of the Income Tax Act, which mandates payment to micro and small enterprises (MSEs) within 45 days of delivery to claim deductions, is causing concern and leading to various strategies by businesses and vendors to mitigate its impact. The law aims to ensure timely MSE payments and […]
MakeMyTrip: Business Class Funnel for Business Travellers
MakeMyTrip, India’s leading online travel company, has launched a new feature for international flights called Business Class Funnel. The feature is designed to provide a different and enhanced booking experience for business and first-class travellers. It offers detailed information on premium experiences such as seat recline, position, in-flight entertainment, meals, and more. What is Business […]
Education Ministry and FIFA: Scoring for Sports Culture
The Ministry of Education has joined hands with FIFA to launch the Football for Schools (F4S) programme, which aims to promote football as a tool for education, development and empowerment of students across India. The programme will distribute 11 lakh footballs to more than 1.5 lakh schools in a phased manner, and train physical education […]
Punjab & Sind Bank and WDRA: Aiding Farmers with e-NWRs
Farmers in India can now avail low-interest loans against electronic Negotiable Warehouse Receipts (e-NWRs) thanks to a Memorandum of Understanding (MoU) signed between Punjab & Sind Bank (PSB) and Warehousing Development Regulatory Authority (WDRA) on 5 February 2024 . What are e-NWRs? e-NWRs are digital documents issued by registered warehouses that certify the ownership and […]
Cognizant First Odisha Office Opened by Patnaik
Odisha, a state in eastern India, has been witnessing a surge of investment, talent and innovation in the IT sector. On Sunday, February 11, 2024, the state added another feather to its cap when Chief Minister Naveen Patnaik inaugurated the first facility of Cognizant, one of the world’s leading IT and consulting companies, in Bhubaneswar. […]
Paytm E-commerce rebrands as Pai Platforms
Paytm E-commerce, one of the leading players in the digital commerce space, has rebranded itself as Pai Platforms. The company has also acquired Bitsila, a seller platform on ONDC, to strengthen its omnichannel and hyperlocal commerce capabilities. Pai Platforms: A New Identity for Paytm E-commerce Paytm E-commerce, which was backed by Paytm Founder and CEO […]
EPFO Raises Interest Rate to 8.25% for 2023-24
The Employees’ Provident Fund Organisation (EPFO) has announced a three-year high interest rate of 8.25% on employees’ provident fund (EPF) deposits for the fiscal year 2023-24. This is a welcome news for over 60 million EPF subscribers who will benefit from higher returns on their savings. What is EPF and why is it important? EPF […]
Paytm Under Lens: India Probes Chinese FDI Flow
Paytm, India’s leading digital payments platform, is facing scrutiny from the government over its foreign direct investment (FDI) from China. According to sources, the government is examining the FDI from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd (OCL), which owns Paytm . Paytm and Press Note 3 […]
UPI Goes Global! Sri Lanka & Mauritius Join Digital Payment Wave
India’s Unified Payment Interface (UPI) services will be launched in Sri Lanka and Mauritius on Monday, February 12, 2024, in a virtual ceremony that will be attended by Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe and Mauritian Prime Minister Pravind Jugnauth. The event will also mark the launch of RuPay card services in […]