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Paytm enables money transfer for feature phone users New Delhi: Digital payments firm Paytm has introduced a new feature to enable offline transaction between consumers and merchants in their Paytm wallets by giving such instructions over the phone, thereby empowering millions of non-smartphone users t...

Livemint December 07, 2016

RBI eases two-factor authentication for online card transactions up to Rs2,000 Mumbai: The Reserve Bank of India (RBI) has relaxed the two-factor authentication norm for online card transactions up to Rs 2,000 (US$ 29.4), by asking the card-issuing banks to offer the payment authentication solutions of the respective card netwo...

Livemint December 07, 2016

In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017 New Delhi: The Government of India plans to install an additional 1 million new point of sale (PoS) terminals by March 31, 2017, with a view to expand the digital payments eco-system and facilitate the move towards cashless transactions in the countr...

Press Information Bureau December 07, 2016

Any Payment above Rs.5,000 to Suppliers, contractors, grantee/loanee institutions etc by Government Departments to be now made through e-Payment New Delhi: The Ministry of Finance has lowered the threshold for making electronic payments to suppliers, contractors or institutions from Rs 10,000 (US$ 146.7) to Rs 5,000 (US$ 73.3), in order to attain the goal of complete digitisation of governmen...

Press Information Bureau December 06, 2016

Labour and Employment Ministry Efforts bring over Nine Lakh Workers into banking fold within six days New Delhi: The Ministry of Labour and Employment has successfully opened around 915,431 bank accounts since November 26, 2016, for workers especially in the unorganised sector, as part of its campaign to promote and ensure cashless transfer of wages ...

Press Information Bureau December 05, 2016
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