Unified Payments Interface (UPI), which has emerged as the world’s most popular alternative payments method (APM), processed transactions to the tune of ₹80.8 lakh crore ($964 billion) in April-July 2024, a sharp…
Tag: transactions
Karnataka pauses circular prohibiting 15-day hold on SBI, PNB transactions
The Karnataka government on Friday, August 16, kept its circular in abeyance for 15 days, which prohibited all business transactions with the State Bank of India (SBI) and the Punjab National Bank…
Budget may hike tax on F&O trading. Here’s what it could mean
The finance ministry plans to impose higher taxes on futures & options (F&O) transactions in the upcoming Union Budget, as per recent reports. Proposed changes include reclassifying these transactions as ‘speculative income’…
All agency banks dealing with govt transactions to remain open on March 31: RBI
The Reserve Bank of India (RBI) on Wednesday requested all agency banks dealing with government business to keep their branches open on March 31, 2024. The last day of the current financial…
Income Tax: 5 high-value cash transactions may attract I-T notice
The department employs advanced data analytics tools to detect disparities between declared income and incurred expenses. It can cross-check information from diverse sources such as bank statements, property records, investment details, and…
UPI suffers outage as several banks’ servers down, transactions hit
UPI users Tuesday evening faced a harrowing time as the banking sector along with the Unified Payments Interface (UPI) suffered an outage across the country. Taking to X, netizens narrated their ordeal…