Fintech start-ups in the country has seen a large growth in recent times in India. At a time when the government has been aggressively pushing for digital payments and bringing into a formal ID system, increased funding and tax reliefs have pushed such start-ups. There are currently 72 start-ups …
Tag: Unified Payments Interface (UPI)
Budget 2017: FM should announce incentive on cashless transactions, better IT backbone
Reserve Bank of India might not have officially acknowledged, yet over 95 per cent of the demonetized currency of 500 and 1000 notes has returned into circulation. The Government still hopes to unearth 3-4 lakh crores of unaccounted wealth, deposited in the banks. Income Tax department with help …
Demonetisation cap: Daily limit hiked to Rs 10k, but weekly stays at Rs 24k
In a move that will bring relief to small traders and businessmen, the Reserve Bank of India (RBI) on January 16 allowed them to withdrawal cash from current accounts of Rs 1 lakh per week compared with just Rs 50,000 earlier. The facility will be applicable to overdraft and cash credit accounts …
Aadhaar, eKYC, UPI to fuel innovation in fintech, says report
Financial technology built around India Stack, (a set of tools to build software) Aadhaar, electronic know your customer (eKYC) process and Unified Payments Interface (UPI) will fuel innovation that can help 400 million more Indians access credit, insurance and investment opportunities, a report …