The RBI's latest vision document for payment and settlement systems, which outlines the road map for 2019 to 2021, aims to achieve a cash-lite society . To that end it proposes to examine round-the-clock availability of various payment systems, including NEFT

The RBI said the payment systems landscape will continue to change with further innovation and entry of more players which is expected to ensure optimal cost to the customers and freer access to multiple payment system options

The move had been approved by the GST Council before the Lok Sabha polls juggernaut started rolling. The details of the payment mechanism are currently being worked out at the finance ministry in an attempt to clamp down on tax evasion

The online retail, which is currently around 25 percent of total organised retail market in India, can potentially increase to around 37 percent of the total organised retail market

GST has increased cost efficiency in the logistics sector by reducing transit time and driving consolidation of warehouses.

Promoted by 10 banks in India under the aegis of the IBA, the National Payments Corporation of India (NPCI) aims to become the \"best payments network globally\". Presently, 56 banks are shareholders of NPCI.

Earlier in the day, Jet Airways faced operational disruptions across major airports when IOC refused to refuel its planes without clearing the outstanding amount

However, the timeline for implementing phase 2 and phase 3 shall remain unchanged from the date of completion of phase 1

The good and the bad of Modi government's economic performance.

Share Market Live updates: While the Sensex fell 100 points to 38,132 level, the Nifty lost 38 points to 11,445. Top Sensex losers were NTPC (2.25%), Tata Motors (1.85%) and Bharti Airtel (1.49%).

Users will be able to make payments on this app in the similar fashion as on Paytm and other UPI based payment apps but they will only be able to pay other users who use Mi Pay app.

India is gearing up for an era of increased digitalisation, heralding the advent of Industry 4.0, powered by new age technologies like the Internet of Things (IoT), Artificial Intelligence and Robotics.

The banking industry is trying to leave asset quality and governance issues behind. The 23rd edition of the BT-KPMG Best Banks study zeroes in on those who thrived in spite of these challenges.