Tuesday, October 31, 2017, 8:48 PM
Bitcoin jumped to an all-time high above $6,300 on Tuesday, after the world’s largest futures market operator CME Group (CME.O) said it would launch a regulated trading venue for cryptocurrencies in the fourth quarter of 2017. The new futures contracts will be settled in cash, based on the CME ‘CF Bitcoin Reference Rate’, a once-a-day reference rate of the U.S. dollar price of bitcoin, the company said.
Tuesday, October 31, 2017, 3:47 PM
WhatsApp is set to join the long list of companies working on providing a payment option to their users. As per recent reports, the chat-based platform is set to roll-out a new feature that will enable WhatsApp users to make fund-transfers from within the app itself. The feature on which the company has apparently been working for the past few months may see the limelight within the coming months.
Tuesday, October 31, 2017, 1:22 PM
Indian banks, both public and private, are set to bring their digital payment solutions under the umbrella of Bhim or the Bharat Interface for Money, in a move that could boost widespread adoption of the Unified Payments Interface (UPI). Banks will now display Bhim as a prefix to their own UPI applications in a bid to erase confusion among users.
Monday, October 30, 2017, 8:45 PM
With easing of the liquidity crunch, transaction volumes for overall retail electronic payments has seen a marginal dip in the past few months, suggesting a slow reversal in the usage of digital platforms, says a report. According to HDFC Bank, the argument that decline in currency with the public from the pre-demonetisation levels implies a structural drop in cash usage is "perhaps misleading".
Monday, October 30, 2017, 5:04 PM
This month, when the Reserve Bank of India (RBI) released new guidelines for e-wallets and prepaid instruments (PPIs), it allowed some e-wallets and prepaid cards to be used for international transactions. However, there remain many limitations. First, only those e-wallets or prepaid cards can be used for international transactions that are provided by banks.
Monday, October 30, 2017, 3:44 PM
The National Payments Corporation of India (NPCI) and National Securities Depository (NSDL) are looking to operate the e-wallet that the government intends to launch for exporters under the Goods & Services Tax (GST) regime. Earlier this month, Finance Minister Arun Jaitley had announced that the government will launch an e-wallet for exporters by March 2018.
Saturday, October 28, 2017, 11:05 AM
Here's one more proof of Indians going off cash. Between June and August this year, the total number of ATMs in the country decreased by 358. By itself, it's a minuscule dip of 0.16%. Even though growth slowed to 3.6% last year, this is the first time the number of ATMs has declined.
Friday, October 27, 2017, 7:17 PM
Going to bank, a routine business chore, will soon become part of history, and so will the long-queues, vouchers and pins. Banking as you know it is on its way out. Increasingly, banks are setting up digital-branches as customers find transacting with machines easier and quicker. SBI has taken the lead among public sector banks to experiment with digital-branches through its offering SBI InTouch.
Friday, October 27, 2017, 6:08 PM
The SBI has decided to slash IMPS charges by up to 80%. In the revised IMPS charges, no IMPS service charge will be imposed on transactions under Rs 1000. For the transactions between Rs 1000 and Rs 10,000, the users will have to pay Re 1 while for an amount between Rs 10,001 and Rs 1,00,000, the users will be charged Rs 2.
Friday, October 27, 2017, 3:19 PM
Mobile wallets will become strong players in the financial ecosystem as the RBI guidelines on prepaid instruments will allow more features like unlimited transfer of funds between a bank account and a wallet, a top official of Paytm Payments Bank said. "This will further strengthen the value proposition of mobile wallets and make them stronger players in the financial ecosystem," Source said.
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