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Aadhaar-based app launched

FREQUENTLY ASKED QUESTIONS What is BHIM? BHIM is biometric version of UPI (Unified Payment Intereface), USSD (Unstructured Supplementary Service Data) which is expected to minimise role of plastic cards, PoS (Point of sale) machines.  The Prime Minister on Friday   launched an Aadhaar based mobile payment application known as BHIM (Bharat Interface for Money). Precisely what

Aadhaar-based app launched

FREQUENTLY ASKED QUESTIONS What is BHIM? BHIM is biometric version of UPI (Unified Payment Intereface), USSD (Unstructured Supplementary Service Data) which is expected to minimise role of plastic cards, PoS (Point of sale) machines.  The Prime Minister on Friday   launched an Aadhaar based mobile payment application known as BHIM (Bharat Interface for Money). Precisely what

Banks cut base rates; home, corporate loans to be cheaper

Housing, auto and corporate loans are expected to become cheaper since many Public Sector Banks on Tuesday steeply reduced the benchmark lending rate by up to 1.48 percent after spurt in deposits following demonetisation.   Taking a cue from the State Bank of India (SBI), other lenders including largest private sector lender ICICI Bank and state-owned

Banks cut base rates; home, corporate loans to be cheaper

Housing, auto and corporate loans are expected to become cheaper since many Public Sector Banks on Tuesday steeply reduced the benchmark lending rate by up to 1.48 percent after spurt in deposits following demonetisation.   Taking a cue from the State Bank of India (SBI), other lenders including largest private sector lender ICICI Bank and state-owned

IMPACT OF DEMONETISATION BONANZA FOR MONEY LENDERS

One of the main objectives of demonetization was to come out with a transparent economy by destroying black money which has otherwise created a parallel one which is led by informal money lenders as per reports from bankers. A Financial Firm Chief Executive with more exposure in rural business informs that people who earn their

IMPACT OF DEMONETISATION BONANZA FOR MONEY LENDERS

One of the main objectives of demonetization was to come out with a transparent economy by destroying black money which has otherwise created a parallel one which is led by informal money lenders as per reports from bankers. A Financial Firm Chief Executive with more exposure in rural business informs that people who earn their

COST OF CASHLESS TRANSACTIONS

Little has been understood about allocation of costs and profits on a Cashless transaction. Precisely we can say that In a cash economy, the government pays the cost and takes profits. In a cashless system, the government makes far larger profits, the service-providers collect fees, and users pay much higher costs. Thus, it could be

COST OF CASHLESS TRANSACTIONS

Little has been understood about allocation of costs and profits on a Cashless transaction. Precisely we can say that In a cash economy, the government pays the cost and takes profits. In a cashless system, the government makes far larger profits, the service-providers collect fees, and users pay much higher costs. Thus, it could be