The Reserve Bank of India’s proposed lightweight payment and settlement system (LPSS) will introduce a paradigm shift in the Indian payment landscape. In its annual report for 2023-24, the central bank has unveiled its plans for LPSS. The need for lightweight payment and settlement system (LPSS)The central bank said that this payment system can be…
NEW DELHI : Residents of border states lacking mobile and data connectivity can breathe a sigh of relief, with state-owned Bharat Sanchar Nigam Ltd (BSNL) beginning work on installing 20,000 4G towers. The telecom operator has been assigned the work of ensuring connectivity at all far-flung areas under the government’s 4G saturation plan, an official…
Unified Payments Interface (UPI) has supercharged India’s transition to non-cash payments by facilitating direct payments linked to a bank account. UPI has been a revolution for the entire economy in large part due to rapid adoption by millennials and GenZs. It has accelerated the adoption of digital payments, and made making peer-to-peer payments easier for…
New Delhi: Vande Bharat trains will soon ply from each state, railways minister Ashwini Vaishnaw said Friday, outlining the Centre’s plan to connect 200 cities with these modern, indigenously-developed trains by mid-2024. The Indian Railways is also looking at Vande Metro, he said. “The Vande Metro design trainset has been finalised,” Vaishnaw told reporters after…
The Reserve Bank of India could consider changes in the timing of computation of Cash Reserve Ratio (CRR) for banks to help them manage funds more adroitly amid 24/7 funding obligations, industry sources said. From 11:59 pm, the central bank could contemplate opting for a much earlier time for computation of the CRR, which is…
From price change for LPG, to RBI’s 100-day, 100-payment campaign, a look at eight changes that you need to know starting today, 1 June 2023 1)New Sebi rules relating to children’s investmentSecurities Exchange Board of India (SEBI) introduced a set of rules relating to buying mutual fund units in the name of minor children through…
NEW DELHI: The Central Board of Direct Taxes (CBDT) has amended the income tax rules to facilitate strategic disinvestment of public sector companies by expanding the scope of a tax exemption on shares received below fair market value, showed an official order. The Income-tax (Eighth Amendment) Rules, 2023 issued on Thursday is effective from 1…
Instant messaging application WhatsApp has launched a new global ‘Security Center’ page which will act as a one-stop window for users to learn more about how to protect themselves against spammers and any unwanted contacts. WhatsApp on Thursday said it has created this page to build awareness about the various safety measures and in-built product…
If you are tired of distracting pop-ups, unskippable YouTube advertisements, and flashing banners on every available inch of the internet, installing a simple ad-blocking extension can give you a cleaner experience. For users of the Google Chrome browser, there are several ad blocking extensions you can choose from. While a 100% ad-free experience is hard…
All you need to know The Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) are two tax-efficient government savings schemes that offer good interest rates. Both are suitable for creating a corpus over the long term, though SSY offers higher interest rates than PPF. Here’s how to choose between them. PPF vs Sukanya Samriddhi…