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Panel for upfront payments by REC, PFC to IPPs

Thursday, November 22, 2018, 7:54 PM

The high-level empowered committee (HLEC) on stressed power assets has proposed a mechanism through which REC and PFC major lenders to discoms can make upfront payment to independent power producers. If these state-owned lenders are not able to recover dues, the Reserve Bank of India may recover them from the account of states and pay these public financial institutions, it said.
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Mastercard, Visa losing market share to local rivals: Arun Jaitley

Friday, November 9, 2018, 11:05 AM

Finance minister Arun Jaitley said on Thursday Mastercard and Visa were losing market share to domestic payments networks, months after Mastercard complained to the US government that Prime Minister Narendra Modi was using nationalism to promote a local rival. Share of UPI and RUPAY Card have reached 65% of the payments done through debit and credit cards, Jaitley said.
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Use single e-wallet account for all your digital payments soon

Wednesday, October 24, 2018, 9:21 AM

It's common for friends or colleagues to go out for lunch together and decide to split the bill. One person pays the bill and the others are to send the money through Paytm. RBI has issued guidelines on interoperability of prepaid payment instruments (PPIs) like e-wallets on 16 October, which will enable transfer of money from one e-wallet to another, besides offering other benefits.

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