BFSI rides on AI push
Nearly 87% of financial services consumers begin their journey online, with two-thirds finding online channels more helpful for purchase decisions
credit cards
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New TCS rates to apply from October 1
For the first ₹7 lakh remittance under LRS, there won't be any TCS
No TCS on small debit, credit card transactions abroad: Govt
Payments by an individual using their international debit or credit cards up to ₹7 lakh per year will be excluded from LRS, says Ministry of Finance
TCS on overseas bookings should be levied by card-issuing banks: MakeMyTrip
There could be a significant loss of business for the domestic travel industry, says Mohit Kabra, Group CFO, MakeMyTrip
20% TCS on credit card spends abroad not high: Govt
International credit cards are being issued with limits in excess of the current LRS limit of $2,50,000, says Ministry of Finance
Overseas credit card spends come under LRS, to attract 20% TCS
Credit card spends on foreign trips will now attract 20% TCS from July 1
India records 20.5 bn online transactions worth ₹36 lakh cr in Q2
In terms of merchant transactions, UPI P2M emerged as the preferred payment mode, with a market share of 34% in volume and 17% in terms of value, says the Worldline’s India Digital Payment report.
Tokenisation: New credit, debit card rules to kick in from Oct 1
From October 1, your credit or debit card details will be automatically deleted from merchant platforms. Here's what you can do.
Co-branded tie-ups, tech drive 17.2% growth in credit card issuance: RBI
Share of card transactions in overall payment systems dipped from 30.6% in 2017 to 14.7% in 2020. Decline can be attributed to UPI and lesser use of cards at PoS terminals due to Covid curbs
Credit, debit card issuance: RBI extends timeline for implementation of certain provisions
RBI says the timeline extended from July 1, 2022, to October 1, 2022, for the implementation of some provisions after it received representations from stakeholders.
