Search Results for Tag : Payments
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
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
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
News
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: 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
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
#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
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
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
Delhi High Court: Can’t Quash Sexual Violence Cases on the Basis of Monetary Payments(02.07.2024)
Delhi High Court while refusing to quash an FIR on the grounds of monetary settlement between the parties, has opined that criminal cases involving al.....
Tags : Delhi High Court, Monetary Payments, Sexual Violence Cases
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
Cal. HC: When Monthly Paybale Amount Surpasses Threshold, Dispute Becomes Subject to Arbitration(13.09.2024)
Calcutta High Court has held that when monthly payments required to be made exceed the statutory limit for matters falling within the scope of the Wes.....
Tags : Calcutta High Court, Monthly Payments, Statutory Limit
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
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
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
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
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
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
SC: Can’t Recover Excess Payments Made to Employee in Absence of Fraud or Misrepresentation(07.04.2025)
Supreme Court has observed that if an excess payment made to an employee was not on account of any fraud or misrepresentation on the part of the emplo.....
Tags : Supreme Court, Excess Payments, Fraud, Misrepresentation
RBI seeks feedback on concept paper on Card Acceptance Infrastructure(08.03.2016)
The Reserve Bank of India is inviting comments on its (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
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
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
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
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
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
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
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
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