Several petitions challenging the constitutional validity of the Unique Identity programme Aadhaar are pending in the Supreme Court. There is “no question” of extending the June 30 deadline for making Aadhaar mandatory for availing benefits of various social welfare schemes, the centre today told the Supreme Court. Attorney General Mukul Rohatgi told the top court that the idea behind making Aadhaar mandatory for welfare schemes was that the benefit should not go to “ghosts” as was noticed in schemes like the public distribution system (PDS).
When the Railway Ministry introduced an optional Indian railway travel insurance scheme for e-ticketing passengers in September 2016, the move was welcomed. But little did we know how useful the policy would become soon after. Given the recent spate of train accidents that have left many passengers injured and caused several deaths, the insurance scheme has come as a boon for many. The policy can be bought by passengers when booking tickets online from the IRCTC website or through the mobile app.
When two of the biggest banks in the country resist wallets from fintech start-ups, you know a few things are simmering. First, SBI disallowed its net banking users to top up third party wallets and next, ICICI blocked transactions on PhonePe, a Flipkart managed wallet that was launched in partnership with YES Bank – PhonePe allows users to link bank accounts to the smartphone through the National Payments Corporation of India’s encrypted software.
Ahead of the Budget presentation on February 1, expectations are rising that Finance Minister Arun Jaitley could offer more income tax sops than he has in the past. Ahead of the Budget presentation on February 1, expectations are rising that Finance Minister Arun Jaitley could offer more income tax sops than he has in the past. Rajesh Baheti, MD of Crosseas Capital Services, says Mr Jaitley is unlikely to tinker much with the indirect taxes (excise duties) in the Budget as government has set July 1 date for rolling out the goods and services tax (GST) regime.
Vodafone Group Plc doesn’t have much of a choice but to accelerate consolidation moves in India — likely with Idea Cellular with whom it is in talks — as the UK telecom major tries to counter Reliance Jio Infocomm in a key market where it has been struggling to ward off value erosion, add customers and grow revenue market share (RMS). Vodafone India, the No. 2 telco, and third ranked Idea are reckoned to be in merger talks, people aware of the matter told ET, with latest discussions locked over who will have operational control of the merged entity.
Aadhaar Pay is the merchant version of the already in use Aadhaar-enabled payment system It works on any android-based phone, with an attached finger biometric device Andhra Bank, IDFC Bank, IndusInd Bank, State Bank of India and Syndicate Bank have gone live over Aadhaar Pay Keen to push digital payments among the poor and illiterate in rural areas of the country, the government is pushing to popularise Aadhaar Pay which ensures financial transactions by just using fingerprint.
The Flipkart-owned payments app PhonePe’s co-founder & CEO Sameer Nigam has said that the National Payments Corporation of India (NPCI) had no legal jurisdiction to `direct’ his company or Flipkart to do anything. Bengaluru:The ongoing tussle between India’s largest private sector bank ICICI Bank and payments startup PhonePe isn’t showing signs of abating. The Flipkart-owned payments app PhonePe’s co-founder & CEO Sameer Nigam has said that the National Payments Corporation of India (NPCI) had no legal jurisdiction to `direct’ his company or Flipkart to do anything.
As directed by the Union government and also at the behest of the State Government, the Civil Supplies department has opened its doors for sweeping reforms with the implementation of Electronic Point of Sale (EPOS) Unit system throughout the State. Now EPOS machines are provided with advanced features and at a low price too. A committee under the guidance of CGG with C.V. Anand, Civil Supplies Commisioner, as Chairman has been formed to finalize the tenders.
Roughly 70 million pieces of notes of different denominations are being printed per day at the printing press. This translates into around 1.8 billion pieces per month, said the SBI Research report, released on Friday. At the Reserve Bank of India’s current printing press capacity, 70 per cent of the notes will be remonetised and “normalcy will return most likely” by the end of February, according to a report by SBI Research, the economic research arm of State Bank of India.
The Government is issuing newly designed PAN (Permanent Account Number) cards that have added security features to make them tamper-proof and with contents written in both Hindi and English, a senior Income-Tax Department official said today. The distribution of new-look PAN cards, being printed by NSDL and UTIITSL (UTI Infrastructure Technology and Services Ltd), started since January 1. The cards are being issued to new applicants but existing ones can only apply for them.