India covid-19 Government bill India

Opinion | Push aside barricades to expand digital transactions

Reading now: 495
www.livemint.com

Recurring online payments need to be especially convenient for consumers to adopt new mechanisms On 30 December, 2019, the Central Board of Direct Taxes (CBDT) issued a notification which ordered companies whose turnover exceeded ₹50 crore to include the Unified Payments Interface (UPI) and RuPay debit cards as payment methods.

It was a welcome step to expand digital payments in India. Along with the Reserve Bank of India’s (RBI) decision to allow recurring payments through these instruments, this notification is expected to help expand India’s user base for digital transactions.

More importantly, the CBDT’s notification was prescient because virtual payments have turned out to be lifesavers for consumers during the country’s 50-plus day

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA