Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4%
 
 
Latest Circulars »
 Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) - Aajeevika - Interest Subvention Scheme
 RBI clarifies that linking Aadhaar to bank accounts is mandatory
 Investment under PIS in M/s Claris Lifesciences Ltd. By FII/FPI Investment limit from 24 to 49 per cent and increase in NRI limit from 10 to 24 per cent
  RBI-Interest rates for Small Savings Schemes
  Risk Management and Inter-Bank Dealings – Facilities for Hedging Trade Exposures invoiced in Indian Rupees
 Risk Management and Inter-Bank Dealings – Facilities for Hedging Trade Exposures invoiced in Indian Rupees
 Exim Bank's Government of India supported Line of Credit of USD 1 billion to the Government of Mongolia
 Master Circular –Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public
 Bilingual/Hindi House Magazine Competition for Public Sector Banks/ Financial Institutions – (2016-17)- Inviting Entries
 Master Direction on Issuance and Operation of Prepaid Payment Instruments
 The Bhavana Rishi Co-operative Urban Bank Ltd., Hyderabad, Telangana – Penalised

RBI Seeks Feedback on Concept Paper on Card Acceptance Infrastructure
March, 09th 2016

The Reserve Bank of India has today placed on its website the Concept Paper on Card Acceptance Infrastructure. Comments may be emailed or sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai - 400001 on or before April 15, 2016.

Background

The Reserve Bank’s over-arching Vision for Payment Systems in recent years has been the encouragement of electronic payments and migration to a “less-cash” society. The policy focus of the Reserve Bank has been to facilitate the growth in electronic payment services and also ensuring safety and security of such transactions. Recent Government announcements support and reinforce the need to migrate from cash payments and to promote card and other electronic payments.

With increasing customer confidence and concerted effort of all stakeholders, a growing trend in retail electronic payments has been observed. However, there is a concern that the commensurate growth in infrastructure, particularly those that facilitate electronic payment for purchase of goods and services, has not kept pace with the requirements of all segments of users across all geographical locations. Regulatory intervention in the form of rationalization of merchant discount rate (MDR) a few years earlier has also not had the desired catalytic effect. Growth in card acceptance infrastructure at merchant locations has been slow.

The “economics” of card payments plays an important role in ensuring greater and wider participation of all stakeholders involved in the card payments value chain and, as such, any strategy geared towards expansion of the infrastructure in a “managed” way has to also address these issues. There is, therefore, a need to examine holistically the relevant issues that come in the way of acceptance of card payments and deployment of infrastructure for the same so as to ensure continued and accelerated growth in card acceptance.

This concept paper has been prepared taking into account the inputs gathered during various interactions with the stakeholders. The paper outlines strategic options for addressing the issue of both expansion of card acceptance infrastructure as well as rationalisation of MDR.

To this end, the Reserve Bank has invited views and suggestions on the Concept Paper on Card Acceptance Infrastructure. Specific and actionable feedback would be highly valued.

Sangeeta Das
Director

Press Release : 2015-2016/2110

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions