In recent times, many cases of unauthorized transactions on account of skimmed/cloned cards were registered that led to fraud. To minimise the number of unauthorized transactions happening via ATMs, thePunjab National Bank (PNB) is going to introduce the OTP-based cash withdrawal system. The bank will launch OTP Based ATM Withdrawal for transactions system from December1, 2020.
BharatPe, India's largest merchant payments company, today announced that it has recorded the fastest ever scale up on POS in the industry. BharatPes POS business has grown to $2 billion annualized transaction value in just 3 months post the launch. The company announced that its POS business now contributes to 25 per centof the annualized transaction value. The company currently offers this product in 10 cities of the country and plans to ramp it up to 40 cities by the end of the current fi
Chennai-based Murugappa Group on Thursday took overscam-hit CG Power and Industrial Solutions, infusing Rs 700 crore into the company and appointing directors on its board. CG Power in a stock exchange filing said the company board at its meeting on Thursday issued 64.25 crore shares of Rs 2 at a price of Rs 8.56 (including premium) per share aggregating to Rs 550 crore to Tube Investments of India Ltd (TII).
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the countrys economy has recovered stronger than expected from the initial impact of the COVID-19 pandemic, but there is a need to be watchful of demand sustainability after the end of festivities.