The Reserve Bank of India (RBI) has recently made significant updates to its electronic mandate (e-mandate) framework, particularly focusing on enhancing the efficiency and convenience of toll payments through FASTTag. FASTTag, a system that leverages Radio Frequency Identification (RFID) technology, allows for seamless toll payments by automatically debiting the associated Read more…
Introduction Pre-employment screening is a process used by employers to verify the background, qualifications, and suitability of a candidate before finalizing a hiring decision. This screening typically includes various checks, such as criminal background, employment history, education verification, drug testing, and credit checks. The primary goal is to ensure that Read more…
Peer-to-peer (P2P) lending has emerged as a significant alternative to traditional banking channels in India, offering a platform for individuals to lend and borrow money directly without the intervention of banks. As the popularity of these platforms has grown, so too needs robust regulation to ensure transparency, fairness, and protection Read more…
In a significant move to further enhance the inclusivity and utility of the Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) has introduced a groundbreaking feature known as “UPI Circle.” This initiative is designed to address the needs of users who remain dependent on cash for their Read more…
Introduction Businesses are often faced with the challenge of selecting the right solution to facilitate seamless transactions. Two common options that often come into consideration are payment gateways and payment aggregators. Although these terms are sometimes used interchangeably, they represent distinct entities with unique functionalities, advantages, and use cases. This Read more…
Introduction Digital merchant onboarding refers to the process of using digital tools and platforms to register, integrate, and enable merchants to transact on a business’s platform electronically. This process typically involves gathering necessary merchant information, verifying identities, and setting up transaction capabilities, all executed digitally. In India, with its rapidly Read more…
In a significant move towards enhancing the accuracy and timeliness of credit information, the Reserve Bank of India (RBI) has mandated a shift from the traditional monthly reporting of credit data to a fortnightly cycle. This new regulation, effective from January 1, 2025, requires Credit Institutions (CIs) to report credit Read more…
Introduction The Employees Provident Fund Organisation (EPFO) is a statutory body under India’s Ministry of Labour and Employment. Established to manage the provident fund, pension, and insurance schemes for the workforce, EPFO plays a pivotal role in securing the financial future of employees. One of the critical aspects of managing Read more…
RBI Increases UPI Transaction Limit For Tax Payments The Reserve Bank of India (RBI) has recently increased the UPI transaction limit for tax payments from ₹1 lakh to ₹5 lakh. This decision aims to enhance the convenience and efficiency of digital payments, particularly for larger transactions, thus promoting the use Read more…
The Finance Bill, 2024, introduced several pivotal changes to the Goods and Services Tax (GST) law. Two significant amendments include mandatory Input Service Distributor (ISD) registration for multi-state companies and the imposition of penalties for unregistered machines in the manufacturing of pan masala, gutkha, and other tobacco products. Mandatory ISD Read more…
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