Zerodha co-founder Nithin Kamath on Tuesday drew a sharp comparison between India’s payments infrastructure and that of the United States after revealing that US-based brokerage Robinhood earns nearly Rs 1,300 crore ($150 million) every year just from fees on instant withdrawals. In a post on X, Kamath said Robinhood’s cost to process these instant transactions…
How to invest Let’s say you want to invest in a flexi-cap fund. You open an investment app that is integrated into ONDC. You search for existing flexi-cap funds, the app fetches the data from multiple AMCs, i.e. sellers, that are plugged into ONDC. You then invest directly with any, even if that AMC is…
The Reserve Bank of India (RBI) has set up the Payments Regulatory Board (PRB) under the Payment and Settlement Systems Act, 2007, following recent amendments notified by the government. The central bank confirmed the development in a press release issued on Tuesday, September 30. According to the RBI, the amendments to Section 3 of the…
Indian visitors to Qatar can now use the Unified Payments Interface (UPI) for transactions, with Qatar Duty Free outlets at Hamad International Airport becoming the first merchant to enable the service, according a release from NPCI International Payments Limited (NIPL), reported by ANI. The launch follows a partnership between NIPL and Qatar National Bank (QNB),…
Unified Pension Scheme (UPS) has received 7,253 claims, Finance Minister Nirmala Sitharaman said on Monday, July 28. Out of these 7,253 claims, 4,978 claims have been processed for payment of benefits, as of July 20. There are 25,756 retired Central government subscribers eligible to receive additional benefits under UPS, according to the eligibility criteria, the…
Market regulator Securities and Exchange Board of India (SEBI) on Wednesday rolled out a special initiative to help investors make UPI payments to stockbrokers and other intermediaries securely. This facility—aimed at protecting investors against fraudulent activities—has been designed specifically to ensure that money is transferred only to the intended and registered intermediaries, such as brokers. The development…