Snehal khanna Blog

Google might have entered the space a year late, but competition is still scarce LATEST NEWS : A little over a month after entering into the digital payment ecosystem in India, Google’s Unified Payments Interface (UPI) app Tez has racked up 7.5 million users who have made over 30 million transactions. In a call with investors on Friday, Google CEO Sundar Pichai said that he was “really excited about the potential this (Tez) brings for India's mostly cash-based economy” while also revealing the growth figures for the app. While Google has not been able to demolish rival BHIM’s record of getting 10 million installs in just 10 days thanks to Prime Minister Narendra Modi backing, but it’s a commendable feat considering that Tez has lacked several features at launch. But coming into the UPI payments space a little more than a year late, Google has demonstrated that there still is space for growth in India’s digital payments ecosystem. Tez also sets the precedent f...

Furnish Aadhaar no by Dec 31, failing which your account will cease to be operational Latest news :  The government has made quoting of biometric identity number Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs 50,000 and above. Existing bank account holders have been asked to furnish their Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017, failing which, the account will cease to be operational, according to a revenue department notification. The government in Budget 2017 has already mandated seeding of Aadhaar number with Permanent Account Number (PAN) to avoid individuals using multiple PANs to evade taxes. The notification issued amending the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, mandated quoting of Aadhaar along with PAN or Form 60 by individuals, companies, and partnership firms for all financial transactions of Rs 50,000 or above. ...

The funding, expected to materialise in 3 weeks, to help push firm's banking and finance investments Alibaba-backed online marketplace company Paytm , which is in a rapid expansion mode, is in talks for a fresh round of funding for investment in banking and finance, besides other expansion plans. The company, it is learnt, is looking to raise around Rs 12,000 crore from Japan’s SoftBank, in the single-largest investment in an e-commerce company. The funding, it is believed, could materialise within the next three weeks, though Paytm Founder and Chief Executive Officer Vijay Shekhar Sharma did not comment on it. Read this : Paytm parent One97 set to raise over $1.8 billion from SoftBank: report Paytm, in tie-up with MMTC’s Swiss venture PAMP SA, on Thursday launched a wealth-management platform that allows you to invest in gold for as low as Re 1, in the first such initiative anywhere in the world. It announced the launch of ‘Digital Gold’, a vertical to allow i...