Digital payments

MUMBAI: Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency.Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them."In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks."Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.Central bank digital currencies (CBDC) is a legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the central bank's balance sheet. … [Read more...] about RBI says it is open to exploring possibility of digital version of fiat currency

Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'. Central bank digital currencies (CBDC) is a legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the central bank's balance sheet. It … [Read more...] about Digital Transformation: RBI says it is open to exploring possibility of digital version of fiat currency

Chaaya BaradhwaajWith a population of nearly 1.2 billion people, India makes up for one of the most diversified markets in the world. With a strong retail and consumer base, India is poised to witness certain redefining trends that will effectively shape the future of consumer and retail industry. The key area of focus for brands will be consumer experience and technology will enhance the entire shopping journey for them. Social commerce, or S-commerce, is a next-gen trend expected to reinvent the future of commerce.Social commerce basically refers to the process of selling products directly on social media platforms. It brings in the functionality of e-commerce on social media channels themselves. Social commerce improves the entire shopping experience – right from product discovery and research to check-out and payment – making it a lot more easy, direct and convenient. Rise of Social Commerce The extensive use of videos on social media platforms such as Facebook, … [Read more...] about Social Commerce Concept: How it becomes a requisite business model for brands

Distressed transactions are undertaken at negotiated prices considering the financial position of the borrower. As there is no element of abuse in such cases, the Government should exempt such specified transactions from deemed income provisions.The Government has time and again shown its commitment for developing and strengthening the financial sector, and addressing some of the key asks of the industry will go a long way in driving growth in India’s Financial Services industry.About the author: Bhavin Shah, Partner and Leader Deals Tax, PwC India & Yagyesh Ladia, Manager – Deals Tax, PwC India also contributed to this article.DISCLAIMER: The views expressed are solely of the author and ETCFO.com does not necessarily subscribe to it. ETCFO.com shall not be responsible for any damage caused to any person/organisation directly or indirectly. … [Read more...] about Financial Services Sector: Expectations from Union Budget 2021

"If confirmed, I will work closely with the White House and counterparts at other agencies across the administration on US policy toward Russia. I commit to rigorously enforcing sanctions targeting Russian actors for territorial aggression in Eastern Ukraine and Crimea and other threats to US national security", she said. When asked about her stance on China, Yellen referred to Beijing as "our competitor", saying that "we must ensure that it is not allowed to violate our sanctions". … [Read more...] about Who is Janet Yellen, New US Treasury Secretary?