Naidu to head panel of CMs to boost digital payment systems
PTI To promote the use of digital payment systems to encourage transparency, financial inclusion and prepare a roadmap in this regard, the Modi government has formed a committee headed by Andhra Pradesh Chief Minister Chandrababu Naidu.Odisha CM Naveen Patnaik, Madhya Pradesh CM Shivraj Singh Chouhan, Sikkim CM Pawan Kumar Chamling, Puducherry CM V Narayanasamy, Maharashtra CM Devendra Fadnavis are other Chief Minister in the panel which also includes NITI Aayog Vice-Chairman Arvind Panagariya, and Amitabh Kant CEO, NITI Aayog.Nandan Nilekani, former Chairman, UIDAI, Janmejaya Sinha, Chairman, Boston Consulting Group, Rajesh Jain, Managing Director, netCORE, Sharad Sharma, Co-founder, iSPIRIT and Jayant Varma, Professor (Finance), IIM (Ahmedabad) are experts who as special invitees are part of the high level panel.According to officials, the ...
Every retailer will now have a POS machine
The Dollar Business Bureau With the Government aiming to drastically reduce cash transactions in the country with its recent move to demonetise currency notes of Rs.500 and Rs.1,000, and with the recent announcement by the Government to exempt central excise duty on Electronic Data Capture Machine (EDC) or Point of Sale (POS) machines, retailers big or small will now have to shift to accepting plastic money in their daily transactions. The Government for some time now has been laying greater emphasis on digital payments. Point of Sale (POS) devices are used for cashless transactions, both for making payments or disbursing cash. POS do not attract any basic customs duty. To further reduce the cost of such devices and thereby encourage digital payments, the ...
6 lakh SBI debit cards recalled; HDFC, Axis, ICICI, Yes Bank cards also compromised
Deepak Kumar 6 lakh SBI (State Bank of India) debit cards have been blocked due to a suspected security breach in their financial data . Termed to be one of the largest debit card replacement in the country, the country’s nationalised bank and other major private banks are taking all steps to stem any potential trouble. The steps taken by banks include asking their customers to change their PIN numbers of their debit-cum-ATM cards. This got escalated to the level wherein banks have changed cards when customers did not comply with changing their PIN numbers, a bank official revealed. HDFC has asked its customers not use the ATM’s of other banks. Apparently card network companies like NPCI, MasterCard and Visa had sent ...
Postal department can become leader in e-commerce delivery
Himanshu Vatsa | The Dollar Business The Postal Department can become a leader in delivery of goods as part of e-commerce, said Ravi Shankar Prasad, Minister of Communications and Information Technology. The Postal Department has recorded growth of more than 36% in parcel revenue in the last one year. The department has collected more than Rs 500 crore for cash-on-delivery (COD) articles of major e-commerce players such as Amazon, Flipkart, Snapdeal, Yepme, Naaptol, etc., in 2014-15. Lauding the department’s strong network of mail delivery across the country, the minister said that it should focus more on quick delivery of goods purchased and sold online. “The department should step up its efforts to ramp up its capabilities to book, process, transmit ...
