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If you fail to pay your credit card bill on time, you may have to pay late payment charge of up to 60% per annum
The Reserve Bank Of India had introduced an Ombudsman Scheme for Digital transactions in 2019, under Section 18 of Payment and Settlement Systems Act
BharatPe recorded $830 million worth of transactions ($10 billion annualised) in March 2021
Although, mobile wallets do not have account numbers, but the prepaid instruments—mobile wallets—can become part of centralized payments systems: RTGS and NEFT
On the mobile app, you get information about all types of loans associated with Kotak Mahindra Bank and the facility to repay them
DigiLocker is a one-stop solution aimed at resolving your task of organising your documents digitally
RBI said it will allow cash withdrawal from digital wallets as well as non-bank entities via prepaid cards
Almost all fuel cards offer a surcharge waiver per month. Some specific co-branded fuel cards also provide additional benefits if you are their loyal customer
With the new announcement, you can transfer money from one digital wallet to another
The central bank also doubled the maximum balance a single account in a payments bank can carry to Rs 2 lakh at the end of the day