Banking Awareness 26th December 2016 | Financial Affairs 26th December 2016.

Payment services to be next game changer

Telcos to enable digital platform.

• According to L.V. Sastry, VP & Business Head, Mobile Banking and Commerce, Aircel Ltd. Telecom companies need to espouse the ‘one digital’ strategy especially after demonetisation to give a push to digitalization.
• He also added that Telcos have tried for many years to transition their customers to digital store fronts for availing and paying for services.

800 million

Number of customers across india.

PM flags low taxes on market gains

Structure of tax laws allowing low or zero tax rates needs to be reviewed

Prime Minister Narendra Modi flagged low taxes paid by those who profit from financial markets, some of which could be on account of illegal activities and fraud, and a perception that derivatives instruments for managing risks are, in fact, dominating the market direction.

Finance smart city project

Target the issuance of municipal bonds by at least ten cities in a year’s time.

Russia offers technology to keep hackers at bay

Russian Quantum Center (RQC) is ready to collaborate

• Russian Quantum Center (RQC) said that it is ready to collaborate with India and offer its quantum technology that will prevent hackers from breaking into bank accounts.
• RQC plans to offer ‘quantum cryptography’ that could propel India to the forefront of hack proof communication in sectors such as banking and national and homeland security.

Quantum key distribution (QKD)

QKD is distinct as it encrypts this key on light particles called photons.

Download app, gorge on food and save tax

Their employees tax savings while ensuring regulatory compliance.

Digital platforms provide a mobile application, a wallet and a digital card which is pre-loaded with either employee payroll or benefits, reimbursements, incentives or any other category of spend for which he or she is eligible. These cards can be used at all Visa, MasterCard & Rupay merchants and can be used online or at the point of sales.

Security features

• PIN for authenticating payments,
• e-KYC verification based on Aadhaar
• The Unified Payments Interface.

The post Banking Awareness 26th December 2016 | Financial Affairs 26th December 2016. appeared first on Exambin | Social Competitive Learning.