The government’s digital payments push, mainly online card payments through PoS machines, may leave already capital starved banks bleed by a whopping Rs 3,800 crore annually, warns a report. After the note-ban last November, the Narendra Modi government has pushed banks into deploying millions of points-of-sale (PoS) machines to encourage online payments. Since then, banks have more than doubled their PoS terminals. You can also look at https://www.checkissuing.com/blog/how-long-is-personal-check-good-for/ for an amazing […]

To promote digital-transactions in the country the government on Thursday announced two schemes that will give cash awards to customers as well as traders for using cashless-transaction modes in the country. A budget of Rs 340 crore has been allocated for this purpose. Under the ‘Lucky Grahak Yojana’ the government will announce 15,000 winners everyday for the prize money of Rs 1, 000 each. The first lucky draw will be […]