Page 27 - Digital Payments

Digital payments rebound in June after blip in April transactions

Overall transaction values reach pre-Covid levels

RBI asks banks, NBFCs to increase awareness campaigns against frauds

The central bank observed that despite the financial literacy drive it undertook, cases of frauds continue to rise

Covid-19 crisis: Indian economy's road to recovery still has long way to go

Agriculture was expected to be the only silver lining in the economy in the current financial year

Delhi discoms record up to 90% rise in digital payments during lockdown

In April and May, zero-cash bill payments were made due to lockdown restrictions

Digital payments and the pandemic

Decline in payments volume to the airlines, railways or hospitality industry could have affected digital payments adversely

Covid-19 crisis: Payments fall 46% in April; ATM cash withdrawal declines

Retail payments fall 45%, card usage slips 57%

RBI's Rs 500-crore fund to promote digital payments in small towns

RBI invests Rs 250 crore, the remaining will come from the card-issuing banks and card networks

RBI creates Payments Infrastructure Development Fund to boost digitisation

The RBI makes an initial contribution of Rs 250 crore covering half the fund

May digital payments see an uptick, indicating revival in economic activity

As vehicular activity returned in May, toll collection saw a huge uptick; Fastag posted an impressive jump of more than 400 per cent in transaction count at 55.17 million

PharmEasy, Amazon India tie up to enable digital payments using Amazon Pay

PharmEasy said it is encouraging digital and contactless payments that are not only convenient for its users, but also a must for their safety.

China's digital currency moves

With pilot runs for a digital yuan underway, its monetary system could well become an exemplar for other countries

Adityanath calls for promoting digital payments in UP to minimise crowding

Instructs officials to ensure banks followed social distancing protocols

30 days into coronavirus lockdown: Impact on digital payment transactions

As citizens came forward to help those affected by the lockdown, online donations towards NGOs increased by 180 per cent. Sectors such as utilities, media and entertainment witnessed growth.

Covid-19 lockdown: Rs 36,659 cr transferred to 160 mn beneficiaries via DBT

Of the Rs 36,659 crore, Rs 27,442 crore has been transferred under CSS and CS and Rs 9,717 by various state governments for its welfare schemes

Ours is open-banking model of the times: PayNearby's founder & CEO Bajaj

PayNearby's managing director & chief executive officer plans to raise $50 million through equity dilution in what is inherently a 'people's business'

Top biz headlines: GoAir stops int'l ops, exporters seek govt aid, and more

From GoAir suspending international flights to digital payments getting the boost amidst Covid-19 concerns, Business standard brings to you the top headlines of the day

RBI's moratorium on Yes Bank disrupts digital payments, PhonePe hit hardest

Since YES Bank is PhonePe's exclusive UPI partner, the latter's users have been affected the most

PhonePe, other digital partners bear the brunt of YES Bank crisis

It can be noted that the bank's own net banking facilities have not been operational since last evening

Cash is still king in India, but digital payments rising sharply: RBI

"India is next only to China in terms of the cash. However, the percentage of cash withdrawals to GDP has been constant in India at around 17 per cent," the report said.

Cash is king, digital is divine: RBI talks digitisation post demonetisation

Digital payments in the country have witnessed a growth (CAGR) of 61 per cent, it said