TRANSACTION FEES
Sebi directs MIIs to implement uniform charge from October 1
Sebi directs MIIs to implement a new charge structure for fair market access, ensuring transparency and equal treatment for all participants.
Major credit card rule changes of big banks that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
New credit card rules: Many major banks have implemented significant modifications to the credit card services. Let's examine the important changes to credit card services offered by these major institutions, which will take effect in July.
Explained: Expense ratio in mutual funds and how your money is spent
In other words, it is the per-unit cost of running and managing the mutual fund. The expense ratio differs from fund house to fund house. The expense ratio is calculated as a percentage of daily investment value.
Penalty for missing ITR filing last date: Who has to pay and who doesn't
Penalty for late filing ITR: Under the Income-tax Act, 1961, a penalty or a late filing fee is levied when a taxpayer misses the last date to file income tax return. The late filing fee must be paid or else final submission of income tax return form cannot happen. However, not all taxpayers are required to pay penalty for filing belated ITR.
HDFC Bank credit card charges, rules to change from August 1, 2024: Know about new late payment fee, bill payment rules
HDFC Bank announced major revisions to its credit cardholders about terms and charges. The following changes to your HDFC Bank credit card charges will come into effect on August 1, 2024.
ATM operators seek Rs 2 hike in interchange fee for viability
The Confederation of ATM Industry, or CATMI, wants this fee to be raised to a maximum of Rs 23 per transaction to ensure more funding commitment for the business.
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Nestle India revises record date for dividend payment, scraps increasing royalty fee to parent
Nestle India changed the record date for final dividend payment to July 16, recommended Rs 8.5 dividend per share, if approved by the AGM which is set to meet on July 8.
Credit cards for international airport lounge access of HDFC Bank, Axis Bank, Yes Bank: Complimentary lounge access, other benefits
Top airport lounge credit cards: The credit cards listed below offer considerable number of complimentary visits to international as well as domestic airport lounges, along with other travel and lifestyle benefits
HDFC Bank debit, credit cards will not be working on these two days: Check details
HDFC Bank has notified customers via email and SMS that all HDFC Bank debit, credit, and prepaid card transactions would be temporarily unavailable during an update period.
Late payment fees of top credit cards with airport lounge access compared: SBI Card, HDFC Bank, ICICI Bank, HSBC
Late payment of credit cards: Here is what top banks' credit cards with airport lounge access, such as SBI, ICICI Bank, HDFC Bank, and HSBC, are charging as late payment fees.
New RuPay credit card on UPI launched: Attractive reward points on online, UPI, offline transactions; lifetime free, other features
IndusInd Bank and Poonawalla Fincorp have launched a co-branded RuPay Platinum Credit card. This card offers reward points on everyday spending on e-commerce websites, including UPI transactions and point-of-sale machine transactions. It has no joining and provides benefits like movie ticket offers and fuel surcharge waivers. All you need to know about IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card.
UPI transactions update: HDFC Bank customers will not get SMS alerts for UPI transactions below this amount
HDFC Bank has informed its customers via an email and SMS that it has set a limit on SMS alerts on UPI debit and credit transactions. The new update will be effective from June 25, 2024.
New credit card rules, changes in May 2024: These 4 banks have revised their credit card rules
Credit card customers should be aware of the changes and make sure to follow the latest fee and guidelines set by the bank or credit card company. The top banks that have revised their credit card rules this month are Bank of Baroda, Yes Bank, IDBI Bank, and HDFC Bank.
Kotak Mahindra Bank revises savings, salary account charges, limits: Know latest cash transaction limits, ATM charges & more
The bank has revised average balance criteria, free cash transaction limits, free ATM transaction limits, standing instruction failure fee, free cheque book limit.
Cards vs UPI; Byju’s advisory council dissolved
Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.
Travel credit cards: 5 smart things to know
A travel credit card is specifically designed to provide benefits that are related to travel expenses.
Latest bank charges to send money abroad: SBI, HDFC Bank, ICICI Bank, Axis Bank, IDFC FIRST Bank, DBS Bank India
It means that as per the RBI rules, one can transfer of money up to USD 250,000 per calendar year for defined purposes. However, fees per transaction differ depending on the bank. Here is a comparison of the latest top banks’ charges for sending money abroad.
HDFC Bank launches virtual credit card: Up to 5% cashback, Rs 500 annual fee; check all features
HDFC Bank has launched a new digital credit card called Pixel Play Credit Card that allows allows you to customize benefits to fit your lifestyle. Here is a look at important features of HDFC Bank’s Pixel Play Credit Card, as per the HDFC Bank website.
Paytm focuses on UPI Lite wallet for low-value transactions
Paytm promotes UPI Lite for small transactions, collaborating with top banks. The on-device wallet allows quick, PIN-free payments up to Rs 500, enhancing the user experience for everyday purchases.
KukuFM, Shaadi and IBDF appeal NCLAT against CCI’s interim order in Google Play Store case
Google given a week to respond to appeals against CCI order by KukuFM & IBDF. Startups accuse Google of discriminatory fees. The tribunal will address the matter on May 24.
BSE shares fall 3% as provision for SEBI regulatory fees mars Q4 profitability
BSE shares dipped 3.3% to Rs 2,726 on NSE as Q4 profit was affected by SEBI regulatory fee provision. Consolidated net profit rose marginally to Rs 106.9 crore despite the provision.
UPI Service providers sought regulatory intervention to make transactions remunerative
The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscape and the uphill battle faced by smaller players.
Demat account: From opening to transactions, here are demat account charges you must know
Opening a Demat Account online is a convenient way to invest in the stock market. But before you dive in, it's important to understand the associated charges. Here's a breakdown of the key fees to consider:
ICICI Bank revises charges of these 17 savings account services effective from May 1; check details
ICICI Bank savings account charges: The fees associated with several savings account services, including cheque books, IMPS, ECS / NACH Debit Returns, stop payment fees, and more, have been revised by ICICI Bank. These changes will come into effect from May 1, 2024.
Consultants urge govt to allow local deals involving foreign currencies via RBI
Consultants and service providers are urging the government to avoid routing domestic deals involving foreign currencies, such as dollars, through the US banking system. Currently, transactions in USD within the country incur a transaction fee. K K Kapila, chairman of Intercontinental Consultants and Technocrats (ICT), highlighted that even local transactions, like from Delhi to nearby Faridabad, must go through the US banking system.
Royalty rate under Spain DTAA notified
The notification holds importance especially in view of the recent Supreme Court judgement in the case of Nestle wherein it was held that the Most favoured Nation clause is not auto-executory. "The notification ensures availability of the benefit of lower Tax Rate with respect to Royalty income & FTS under the India Spain Tax Treaty," Pranav Sayta, Partner & Leader International Tax and Transaction Services, EY India said.
UPI transaction fee debate resurfaces as PhonePe & Google Pay cash in on Paytm's fall
The dominance of PhonePe and Google Pay in the UPI market has sparked discussions about introducing fees on merchant transactions. Fintech companies argue that a merchant discount rate (MDR) is needed for long-term sustainability. Introducing fees could incentivize smaller players to compete and attract bigger platforms, benefiting the overall UPI ecosystem.
70% users say will stop using UPI if fees levied
According to a survey by Local Circles, 7 out of 10 UPI users would stop using the app if transaction fees were imposed. Fintech companies have urged finance minister Nirmala Sitharaman to address the issue of implementing a merchant discount rate (MDR) in UPI transactions.
Majority of users to stop using UPI if it attracts transaction fee: Survey
According to a survey by LocalCircles, a majority of people will stop using UPI if a transaction fee is imposed. The survey also found that 1 in 2 UPI users conduct over 10 transactions every month. In August 2022, the Reserve Bank of India (RBI) published a discussion paper suggesting a tiered fee structure for UPI payments, varying according to different transaction amounts. Subsequent to the release of the RBI discussion paper, the finance ministry clarified that there were no plans to impose fees on UPI transactions.
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