Search Results for Tag : payments
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
#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 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
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 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
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
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
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
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
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
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
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
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
NCLAT: In Absence of Contractual Clause Interest for Delayed Payments Can’t Form Part of OD(12.05.2025)
NCLAT New Delhi bench has held that interest on the unilateral invoices for the delayed payment cannot form part of the operational debt in absence of.....
Tags : NCLAT New Delhi, Contractual Clause, Delayed Payments
MP High Court: Ex-Gratia Payments are Dependents’ Last Hope and Rules Should be Applied Liberally(30.03.2026)
Madhya Pradesh High Court directed Central Madhya Pradesh Gramin Bank to pay ?7 lakh to the deceased employee’s wife, observing that ex-gratia payment.....
Tags : Ex-Gratia Payments, Dependents, Liberally
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
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
Notifications & Circulars
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
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 seeks feedback on concept paper on Card Acceptance Infrastructure(08.03.2016)
The Reserve Bank of India is inviting comments on its (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
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
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
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
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
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
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
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
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
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