Tag: Electronic payments

RBI to rationalise MDR to boost debit card transactions

In a bid to encourage electronic payments, the Reserve Bank of India (RBI) has decided to rationalise the Merchant Discount Rate (MDR) applicable on transactions conducted via debit cards. According to the RBI, it has been decided to rationalise the framework for MDR applicable on debit card transactions based on the category of merchants. “In …

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December 6, 2017

New rules to make e-wallet transactions safer soon

Soon your e-wallet transaction will be protected against any leak of consumer information and loss of money. To safeguard consumer interest, the government is drafting rules for e-wallet transactions. The move comes in the wake of a surge in phone electronic payments following the demonetisation of high value currency by the government in November 2016. …

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February 23, 2017

Govt mulling regulator for electronic payments

With digital transactions gaining traction, the government is mulling setting up of a separate regulator for enabling electronic payment system in the country as well as regulate transaction charges. While the Ratan Watal committee on digital payments suggested that the government makes regulation of payments independent from the function of central banking, sources said the …

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January 23, 2017