Thomas Cook launches India’s first Rupay prepaid forex card
The Worldwide travel agency cum Forex Services Company Thomas Cook (India) Ltd (TCIL) and the National Payments Corporation of India (NPCI) have launched India’s first RuPay prepaid forex card for Indians travelling to the United Arab Emirates (UAE). The omnichannel travel company TCIL is offering a broad spectrum of services including foreign exchange, corporate travel,…
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Shortly all banks will issue mobility-enabled cards with NFC functions.
As per a news item in the Economic Times of India, the government has asked banks to ensure that all new cards and reissues of old cards have the National Common Mobility Card (NCMC) as a default option with contactless or near-field function facilities. National Common Mobility Card is an inter-operable transport card conceived by…
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GST council announces many Changes in GST tax rates
The 50th GST Council Meeting concluded on Tuesday and witnessed significant recommendations regarding changes in GST tax rates, simplification of compliance processes, and measures to facilitate trade. A 28% GST rate has been levied on the full value of gaming, horse racing, and casinos which comes as a drawback to online gaming companies. The tax…
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RBI directs new guidelines to card issuers and card networks
The Reserve Bank of India has today placed on its website the draft circular on Arrangements with Card Networks for the issue of Debit, Credit, and Prepaid Cards for feedback if any from stakeholders on or before August 4, 2023. The central bank on a review observed that arrangements existing between card networks and card…
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EPFO extended the date till June 26 for higher pension.
Retirement fund body EPFO has extended the date till 26 June 2023 for higher PF Pension. This is the second time that the Centre has extended the date for submissions. Earlier, the date was March 3 and it was extended to May 3. The decision is based on the representations received from various Central Trade…
NPCI clarifies who will pay fees on UPI wallet transactions from April 1
In a statement issued on Wednesday, NPCI said that as per recent regulatory guidelines, PPI wallets have been permitted to be part of the interoperable UPI ecosystem. As per the circular issued on March 24, the changes of the 1.1% fee on UPI wallet transactions above Rs 2,000 will come into effect from April 1,…
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