The use of Unified Payment Interface (UPI) service has increased rapidly in the last few years in the country. It is expanding abroad also. In this series, UPI service will be launched in Sri Lanka and Mauritius on Monday. Along with this, RuPay card service will also be introduced in Mauritius. On the occasion of…
The scope of Unified Payment Interface (UPI) has increased rapidly in the country in the last few years. It is also being expanded abroad. In this series, UPI service was launched in Sri Lanka and Mauritius on Monday. Sri Lankan President Ranil Wickremesinghe and Mauritius Prime Minister Praveen Jugnauth also participated in this virtual event…
Binance, one of the major crypto exchanges, recently received approval from the Financial Intelligence Unit (FIU) in the country. Binance is cooperating with law enforcement agencies in investigating crypto-related crimes. Recently this exchange has helped Delhi Police in investigating the case of fraud related to renewable energy. Cryptocurrency worth approximately one lakh USDT (approximately Rs…
Payments services provider Paytm has terminated some agreements with its payments bank unit. Reserve Bank of India (RBI) has ordered the closure of this unit of Paytm. This decision was taken due to apprehensions regarding compliance. After this order of RBI, there was a huge fall in the shares of Paytm. According to Reuters report,…
The Financial Intelligence Unit (FIU) has imposed a penalty of more than Rs 5 crore on the banking unit of payment services company Paytm, which is facing difficulties. The reason for this is the violations in reporting illegal amounts sent through Paytm Payments Bank accounts. The FIU under the Finance Ministry has registered a case…
Recently, the banking unit of payment services company Paytm was ordered by the Reserve Bank of India (RBI) to shut down operations due to compliance violations. This increased the apprehensions of the fintech industry. RBI has given assurance regarding this industry. RBI Governor, Shaktikanta Das said that the action taken on Paytm Payments Bank (PPBL)…
Cases of online scams have increased rapidly in the last few years. In a similar case in Madhya Pradesh, a college student has received a notice from the Income Tax and GST department for transactions worth more than Rs 46 crore from his bank account. In this case, there is a possibility of misuse of…
There were approximately 131 billion Unified Payments Interface (UPI) transactions in the country in the last financial year. Their total value was approximately Rs 200 lakh crore. According to data from National Payments Corporation of India (NPCI), in the last financial year there were about 83.7 crore UPI transactions whose value was about Rs 139…
Google, which is associated with online search, has started the facility to provide information to merchants through Soundbox for payments on its Google Pay app in India. This is similar to the payment sound alerts that merchants receive on Paytm and PhonePe. The Google Pay device has in-built speakers and an LCD display. It supports…
Paytm, which deals with financial services, may soon lay off workers. The company has said that it will cut its non-core assets. In the fourth quarter of the last financial year, the revenue of One 97 Communications, which runs Paytm, declined by 2.6 percent for the first time since its listing. The company’s revenue was…
