Note ban effect: Debit cards preferred over credit cards, account for 60% of card spend

Mumbai: Debit cards have replaced credit cards as the primary mode of payment post demonetisation, accounting for 60 percent of the total card spending as compared to 42 per cent p...

IndiaPost becomes 3rd entity to receive licence to start payment bank operations

New Delhi: IndiaPost has received the final license from Reserve Bank of India (RBI) to start its payment bank operations, thus becoming the third entity in India after Bharti Airt...

Govt to integrate BHIM app with Aadhaar for transactions

New Delhi: The Government of India plans to integrate the recently launched Bharat Interface for Money (BHIM) app with the Aadhaar ID of users, which will rule out the need for bio...

New credit card users rise post demonetisation; SBI issues record cards in December

Mumbai: SBI, the second largest issuer of credit cards in India, has reported issuance of 115,000 new cards in December 2016, post demonetisation, taking its total card issuance to...

Government, RBI ask banks to boost ATM cash supply

New Delhi: The Government of India and the Reserve Bank of India (RBI) have asked commercial banks to divert more cash to ATMs in order to make them fully functional by the end of ...

Fund transfer via feature phones set to get easier

Mumbai: The National Payments Corporation of India (NPCI) has integrated the *99# messaging-based mobile banking service with its Unified Payments Interface (UPI), to enable transf...

RBI allows bulk issue of prepaid cards

Mumbai: The Reserve Bank of India (RBI) has allowed banks and other issuers of prepaid instruments to issue prepaid cards in bulk to corporates, partnership firms, sole proprietors...

Govt exempts imported PoS machine from BIS labelling

New Delhi: The Ministry of Electronics and Information Technology has granted special exemption for the import of non-labelled Bureau of Indian Standards (BIS) registered point-of-...