Search Results for Tag : Payments

International Cases

In matrimonial disputes, a spouse may have an obligation to make provision for the payment of other expenses; but an obligation to duplicate it in circumstances is most improbable(18.07.2018)

In facts of present case, Mr Mills (“the husband” notwithstanding his divorce from Mrs Mills, “the wife”, in 2002) appeals against an order for upwa.....

Tags : Periodical payments, Discretion, Obligation

News

Madras HC: Interest Should be Levied on Belated GST Cash Payments but Not on ITC(17.02.2020)

Madras High Court has held that the Goods and Services Tax (GST) could be levied on interest only on the cash component of the tax remitted belatedly .....

Tags : Madras High Court, Interest on GST Cash Payments

Govt: No Restriction on Cash Dealings of Above Rs 2 lakh for Credit Card Bill Payments(05.07.2017)

Revenue Department has said that restrictions on cash dealings of Rs 2 lakh or more will not apply to credit card bill payments, business corresponden.....

Tags : Credit Card Bill Payments

RBI Issues Operating Guidelines for Small Finance Banks and Payments Banks(07.10.2016)

Reserve Bank of India (RBI) has allowed payments banks and small finance banks to use digital banking to open bank accounts while streamlining their r.....

Tags : Reserve Bank of India, finance banks, payments banks, Guidelines

#Economic Survey 2021-2022: Impact of Pandemic on Balance of Payments(31.01.2022)

India’s balance of payments remained in surplus throughout the last 2 years, allowing the Reserve Bank of India to keep accumulating foreign exchange .....

Tags : Economic Survey, Balance of Payments

RBI Permits Banks to Use E-Payments for Imports(25.09.2015)

RBI, in order to facilitate e-commerce, has permitted banks to enter into pacts with Online Payment Gateway Service Providers (OPGSPs), for import pay.....

Tags : RBI, E-Payments for Imports

Paytm Payments Bank Receives Final Approval From RBI(04.01.2017)

Reserve Bank of India (RBI) has given final approval to formally launch Paytm Payments Bank.

Tags : RBI, Paytm Payments Bank

ITAT: Outstanding Balances cannot be treated as ‘Bogus’ when Payment made through Banking Channels(05.05.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has observed that the outstanding balances cannot be suspected as bogus when the payments to par.....

Tags : Income Tax Appellate Tribunal , Bogus Payments

RBI Clears 11 Payments Banks(20.08.2015)

Reserve Bank of India (RBI) has given 'in principle' clearance to 11 entities to set up 'payments banks'. These entities include department of posts, .....

Tags : Reserve Bank of India, Payments Banks

Cabinet Nods for Surcharge, Service Charge on Card Payments(25.02.2016)

Cabinet has approved introduction of steps for promotion of payments through cards and digital means, a move aimed at weeding out black money menace b.....

Tags : Cabinet, Card Payments

Madras HC Directs Puducherry Govt to Release Payments Due to Private Medical Colleges(07.06.2021)

Madras High Court has directed the Puducherry Government to release payments due to the private medical colleges on a priority basis so that the treat.....

Tags : Madras High Court, Payments Due to Private Medical Colleges

Top Story

Central Government Launches BHARAT QR Code for Encouraging Digital Payments(20.02.2017)

The Central Government has recently launched Bharat QR code, a Quick Response (QR) code to enable digital payments without card swiping machines. This.....

Tags : QR code, Launch, Digital payments

RBI announces implementation of Positive Pay System for Cheque payments(25.09.2020)

RBI introduces Positive Pay System for Cheque Truncation. The system is to be implemented from January 1, 2021. The concept of Positive Pay involves a.....

Tags : Positive Pay System, Cheque payments, Implementation

Prime Minister launches digital payment solution e-RUPI(02.08.2021)

Prime Minister launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. The e-RUPI is a digital voucher wh.....

Tags : Digital payments, e-RUPI, Launch

RBI releases framework for facilitating small value digital payments in offline mode(03.01.2022)

RBI releases guidelines for facilitating small value digital payments in offline mode. With technology being available in a palm of your hand, the RBI.....

Tags : Framework, Digital payments, Offline mode

CBIC announces implementation of Electronic Cash Ledger for payment of Import duties from 1st March, 2024(29.02.2024)

Central Board of Indirect Taxes and Customs announces implementation of Electronic Cash Ledger (ECL). The Electronic Cash Ledger (ECL) shall be the mo.....

Tags : ECL, Implementation, Payments

RBI proposes to permit linking of PPIs through third-party UPI applications(05.04.2024)

In order to provide more flexibility to PPI holders, it is now proposed to permit linking of PPIs through third-party UPI applications. This will enab.....

Tags : Digital payments, Linking, PPIs

Notifications & Circulars

Deferred Payment of Import Duty Rules, 2016(02.11.2016)

In exercise of the powers conferred by the proviso to sub-section (1) of sections 47 and section 156 of the Customs Act, 1962 (52 of 1962), the Centra.....

Tags : Duty, Rules, Deferred payments

RBI grants "in-principle" approval to 11 Applicants for Payments Banks(19.08.2015)

The Reserve Bank of India granted "in-principle" approval to 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Ban.....

Tags : Rbi, payments banks, approved, guidelines

India Post Payments Bank Limited commences operations(30.01.2017)

India Post Payments Bank Limited has commenced operations as a payments bank with effect from January 30, 2017. The Reserve Bank has issued a licence .....

Tags : Payments bank, Operation, Commencement

Steps Taken to Encourage Use of Digital Payment at Petrol Stations(06.02.2017)

The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that the Ministry of P.....

Tags : Digital payments, Promotion

Card Not Present transactions - Relaxation in Additional Factor of Authentication for payments upto Rs. 2000/- for card network provided authentication solutions(06.12.2016)

Reserve Bank of India has been taking a number of initiatives with the involvement of all stake holders to enhance safety and efficiency of the retail.....

Tags : Relaxation, Payments, Authentication, Card network

IGST refunds-mechanism to verify the IGST payments for goods exported out of India in certain cases(17.06.2019)

The procedure for claiming IGST refunds is fully automated as provided under Instruction 15/2017-Cus dated 09.10.2017. It has come to the notice of th.....

Tags : Refunds-mechanism, Payments, Verification

Measures for Promoting Digital Payments and Creation of Less-Cash Economy: Benefit of lower rate of Income Tax on digital turnover for small businesses(20.12.2016)

The benefit of lower rate of Income-tax on digital turnover for small businesses up to a turnover of Rs.2,00,000,00 (Rupees Two Crore), announced by t.....

Tags : Digital payments, Measure, Promotion

IGST Refunds-Mechanism to verify the IGST payments for goods exported out of India in certain cases(27.08.2019)

In an earlier Board's earlier Circular 12/2018-Customs dated 29.05.2018, an interim solution was provided to tide over the difficulty faced by exporte.....

Tags : Refunds-Mechanism, Verification, IGST payments

Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) - PPIs upto Rs. 10,000 with loading only from bank account(24.12.2019)

1. Please refer to the Statement on Developmental and Regulatory Policies issued as part of Monetary Policy Statement dated December 5, 2019 as also t.....

Tags : Digital payments, PPI, Introduction

RBI clarifications for start-ups(11.02.2016)

The Reserve Bank of India has issued clarifications relating to acceptance of payments and issue of shares by start-ups. The Bank reiterates, variousl.....

Tags : start-up, payments, shares, clarifications

Furthering digital payments - Waiver of charges - National Electronic Funds Transfer (NEFT) system(16.12.2019)

A reference is invited to RBI circulars DPSS CO (EPPD)/98/04.03.01/2012-13 dated July 13, 2012 on National Electronic Funds Transfer (NEFT) System - R.....

Tags : Digital Payments, Waiver, Charges

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR(27.10.2016)

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 79 dated June 30, 2016 wherein the Rupee .....

Tags : Deferred payments, Protocols

Reserve Bank of India launches UPI for Feature Phones and 24x7 Helpline for Digital Payments(08.03.2022)

The Reserve Bank has launched two key initiatives today - (1) UPI123Pay - Option to make Unified Payments Interface (UPI) payments for feature phone u.....

Tags : Launch, UPI, Digital payments

Action against Paytm Payments Bank Ltd under Section 35A of the Banking Regulation Act, 1949(31.01.2024)

1. In Press Release dated March 11, 2022, the Reserve Bank of India, in exercise of its powers under section 35A of the Banking Regulation Act, 1949, .....

Tags : Paytm Payments Bank, Direction

Payments Bank and Small Finance Banks- access to Call/Notice/Term Money Market(29.10.2018)

1. A reference is invited to Master Direction No.2/2016-17, dated July 7, 2016 on Money Market Instruments. A reference is also invited to the Guideli.....

Tags : Payments Bank, Small Finance Banks, Access

Permitting non-scheduled payments banks to register as bankers to an issue(03.08.2021)

1. SEBI vide notification dated July 30, 2021, amended the SEBI (Bankers to an Issue) Regulations, 1994 (BTI Regulations) thereby permitting such othe.....

Tags : Non-scheduled payments banks, Registration, Permission

INR spend limit at duty free shops raised(06.07.2016)

The Ministry of Finance raised the ceiling for payments at duty free shops at international airports from Rs. 5000 to Rs. 25,000.

In 2005,.....

Tags : duty free shops, payments, indian rupee

RBI releases framework for authorisation of pan-India Umbrella Entity for Retail Payments(18.08.2020)

Reserve Bank has today placed on its website, the 'framework for authorisation of pan-India Umbrella Entity for Retail Payments'. The framework has be.....

Tags : Framework, Authorisation, Retail Payments

Online Dispute Resolution (ODR) System for Digital Payments(06.08.2020)

1. This is with reference to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had a.....

Tags : ODR, Digital Payments, Introduction

RBI invites Applications for authorising Bharat Bill Payment System Operating Units(20.10.2015)

Reserve Bank of India has invited applications for authorization from entities engaged in bill payments and wishing to operate as a ‘Bharat Bill Payme.....

Tags : Repetitive, bill, payments, authorisation

Inclusion of "India Post Payments Bank Limited" in the Second Schedule of the Reserve Bank of India Act, 1934(03.07.2019)

We advise that the "India Post Payments Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificatio.....

Tags : Post Payments, Bank, Inclusion

Making Digital Payments a Mass Movement in India, Nearly 10 lakh Citizens Get Reward Money Over Rs.153.5 Crore for Embracing Digital Payments(21.02.2017)

It has been 58 days since the launch of NITI Aayog's two incentive schemes - Lucky Grahak Yojana and Digi Dhan Vyapar Yojana to promote digital paymen.....

Tags : Digital payments, Movement, Reward

Expanding and Deepening of Digital Payments Ecosystem(07.10.2019)

With a view to expanding and deepening the digital payments ecosystem, it has been decided that all State/UT Level Bankers Committees (SLBCs/UTLBCs) s.....

Tags : Expanding, Digital Payments, Ecosystem

ESIC Signs an Agreement with SBI for Payments To ESIC Beneficiaries on Real Time Basis(03.09.2019)

A Memorandum of Agreement has been signed between the Employees' State Insurance Corporation (ESIC) and SBI today in accordance with which, the SBI wo.....

Tags : Agreement, Payments, ESIC Beneficiaries

Master Directions on Issuance and Operation of Prepaid Payment Instruments in India(20.03.2017)

As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars containing policy guidelines on Issuance and Operatio.....

Tags : Direction, Pre-paid payments, Operations

RBI seeks feedback on concept paper on Card Acceptance Infrastructure(08.03.2016)