- Cryptocurrency: SBI Cautions Its Credit Card Users Against Bitcoin Trading As the Union Cabinet has green signalled the bill banning unregulated deposit schemes in India, India’s largest public sector bank State Bank of India (SBI) has issued a cautionary and advisory note pertaining to Bitcoin trading to its credit card customers. After HDFC bank, which holds 52% share of the Indian credit cards customer base, […]
- To Push Digital Payments, Government To Bear MDR Charges On Debit Card Purchases Upto INR 2000 In order to encourage small shops to accept digital payments, the government has decided to bear the charges merchants pay to banks aka the merchant discount rate (MDR), on purchases of up to $31(INR 2,000) using a debit card, BHIM or Aadhaar. Announcing the decision taken at the Cabinet meeting last week, IT minister Ravi […]
- India Recorded 965 Mn Digital Transactions In October: RBI A lot has been happening in the Indian digital payments space. With the entry of big players like Google, Amazon and now PayPal and the government’s drive towards cashless economy, digital transactions in the country reached an all-time high of 965 Mn last month, as per RBI data. This is the highest volume of digital […]