1. Nuspay International introduces ‘virtual account’ payment solution for Indian market
Online transaction frauds and hacking risks may get minimised if the US based Nuspay International’s ‘virtual account’ payment solution takes wings in India.
Texas-based Nuspay International — a recent entrant in the global payment industry -- is bringing to India the first ever bank-account based tokenised payment solution ‘Virtual Account’.
This ‘virtual account’ token based payment is for cashless, cardless and contactless transactions.
The main benefit of this ‘virtual account’ solution is that the customers’ sensitive personal information is not compromised during financial transactions, Harmeet Sethi, Chief Executive Officer, Nuspay India and Global Sales Head told Business Line here.
This ‘virtual account’ solution was formally launched in the US from April 1 this year. In the virtual account transaction process mechanism, sensitive payment data is replaced with a temporary payment token.
In every request, a token is immediately generated against the customer’s bank account and not the customer’s debit or credit card details.
Online transaction frauds and hacking risks may get minimised if the US based Nuspay International’s ‘virtual account’ payment solution takes wings in India.
Texas-based Nuspay International — a recent entrant in the global payment industry -- is bringing to India the first ever bank-account based tokenised payment solution ‘Virtual Account’.
This ‘virtual account’ token based payment is for cashless, cardless and contactless transactions.
The main benefit of this ‘virtual account’ solution is that the customers’ sensitive personal information is not compromised during financial transactions, Harmeet Sethi, Chief Executive Officer, Nuspay India and Global Sales Head told Business Line here.
This ‘virtual account’ solution was formally launched in the US from April 1 this year. In the virtual account transaction process mechanism, sensitive payment data is replaced with a temporary payment token.
In every request, a token is immediately generated against the customer’s bank account and not the customer’s debit or credit card details.
2. Kapil Dev Tripathi is new Oil Secretary
Senior IAS officer Kapil Dev Tripathi today took over as the new Oil Secretary, coming in at a time when the sector is witnessing a lot of churning.
An officer of the Assam—Meghalaya cadre of 1980 batch, Tripathi after assuming office this afternoon met senior ministry officials.
3. India ranks 13th in generating electricity from nuclear source
India ranks at 13th position in the world in terms of generation electricity from nuclear source.
This information was given by Minister of State (MoS) Dr Jitendra Singh in written reply in the Rajya Sabha to an unstarred question.
4. Fitch forecasts 8% growth for India
Projecting 8 per cent growth for the current fiscal, rating agency Fitch on Thursday said India is less vulnerable to risks from capital flight on account of the drop in oil prices and the government’s reform agenda.
India had previously been clubbed with Brazil, Indonesia, South Africa and Turkey for being the most at risk to capital outflows following the US Federal Reserve’s proposed unwinding of the monetary stimulus.
5. Microsoft named its next Web Browser as Edge
Microsoft, American multinational technology companyannounced Edge as its next Web Browser’s name at the Build Developer Conference held at San Francisco in California, USA.
Earlier, Microsoft had called it as Project Spartan; a code name given by the company. The browser is intended to replace the Internet Explorer (IE) in future.
6. Former Gujarat assembly speaker Barjorji Pardiwala passed away
Former Gujarat assembly speaker Barjorji Pardiwala passed away due to age-related illness at a private hospital in Ahmedabad. He was 86.
Pardiwala was also a renowned lawyer in Valsad. Pardiwala joined the lawyer's bar at Valsad town of Gujarat in 1955 and practiced the law for more than 40 years.
Microsoft, American multinational technology companyannounced Edge as its next Web Browser’s name at the Build Developer Conference held at San Francisco in California, USA.
Earlier, Microsoft had called it as Project Spartan; a code name given by the company. The browser is intended to replace the Internet Explorer (IE) in future.
6. Former Gujarat assembly speaker Barjorji Pardiwala passed away
Former Gujarat assembly speaker Barjorji Pardiwala passed away due to age-related illness at a private hospital in Ahmedabad. He was 86.
Pardiwala was also a renowned lawyer in Valsad. Pardiwala joined the lawyer's bar at Valsad town of Gujarat in 1955 and practiced the law for more than 40 years.
7. Jaitley drops plan to strip RBI of powers to regulate govt debt
Finance Minister Arun Jaitley on Thursday tried to soothe the Reserve Bank of India and Foreign Institutional Investors by making changes to the Finance Bill.
The Finance Bill for 2015-16 was passed in the Lok Sabha
To make peace with the RBI, Jaitley deferred the plan to set up a Public Debt Management Authority (PDMA), which would have taken away the central bank’s power of regulating the Government’s borrowing market. The Bill had also proposed that SEBI will regulate the government securities market.
“Since the RBI has been handling public debt management, the Government, in consultation with the RBI, will prepare a detailed roadmap that will separate RBI’s debt management and market infrastructure functions and have a unified financial market. It has, therefore, been decided to delete the PDMA provisions from the Finance Bill for this financial year,” he said while moving the Bill for debate and approval in the Lok Sabha on Thursday.
He also clarified that the Centre was committed to unifying the financial market both by making government securities a part of this market and also by creating a proper bond-currency derivative nexus.
Finance Minister Arun Jaitley on Thursday tried to soothe the Reserve Bank of India and Foreign Institutional Investors by making changes to the Finance Bill.
The Finance Bill for 2015-16 was passed in the Lok Sabha
To make peace with the RBI, Jaitley deferred the plan to set up a Public Debt Management Authority (PDMA), which would have taken away the central bank’s power of regulating the Government’s borrowing market. The Bill had also proposed that SEBI will regulate the government securities market.
“Since the RBI has been handling public debt management, the Government, in consultation with the RBI, will prepare a detailed roadmap that will separate RBI’s debt management and market infrastructure functions and have a unified financial market. It has, therefore, been decided to delete the PDMA provisions from the Finance Bill for this financial year,” he said while moving the Bill for debate and approval in the Lok Sabha on Thursday.
He also clarified that the Centre was committed to unifying the financial market both by making government securities a part of this market and also by creating a proper bond-currency derivative nexus.
1. Nuspay International introduces ‘virtual account’ payment solution for Indian market
Online transaction frauds and hacking risks may get minimised if the US based Nuspay International’s ‘virtual account’ payment solution takes wings in India.
Texas-based Nuspay International — a recent entrant in the global payment industry -- is bringing to India the first ever bank-account based tokenised payment solution ‘Virtual Account’.
This ‘virtual account’ token based payment is for cashless, cardless and contactless transactions.
The main benefit of this ‘virtual account’ solution is that the customers’ sensitive personal information is not compromised during financial transactions, Harmeet Sethi, Chief Executive Officer, Nuspay India and Global Sales Head told Business Line here.
This ‘virtual account’ solution was formally launched in the US from April 1 this year. In the virtual account transaction process mechanism, sensitive payment data is replaced with a temporary payment token.
In every request, a token is immediately generated against the customer’s bank account and not the customer’s debit or credit card details.
Online transaction frauds and hacking risks may get minimised if the US based Nuspay International’s ‘virtual account’ payment solution takes wings in India.
Texas-based Nuspay International — a recent entrant in the global payment industry -- is bringing to India the first ever bank-account based tokenised payment solution ‘Virtual Account’.
This ‘virtual account’ token based payment is for cashless, cardless and contactless transactions.
The main benefit of this ‘virtual account’ solution is that the customers’ sensitive personal information is not compromised during financial transactions, Harmeet Sethi, Chief Executive Officer, Nuspay India and Global Sales Head told Business Line here.
This ‘virtual account’ solution was formally launched in the US from April 1 this year. In the virtual account transaction process mechanism, sensitive payment data is replaced with a temporary payment token.
In every request, a token is immediately generated against the customer’s bank account and not the customer’s debit or credit card details.
2. Kapil Dev Tripathi is new Oil Secretary
Senior IAS officer Kapil Dev Tripathi today took over as the new Oil Secretary, coming in at a time when the sector is witnessing a lot of churning.
An officer of the Assam—Meghalaya cadre of 1980 batch, Tripathi after assuming office this afternoon met senior ministry officials.
3. India ranks 13th in generating electricity from nuclear source
India ranks at 13th position in the world in terms of generation electricity from nuclear source.
This information was given by Minister of State (MoS) Dr Jitendra Singh in written reply in the Rajya Sabha to an unstarred question.
4. Fitch forecasts 8% growth for India
Projecting 8 per cent growth for the current fiscal, rating agency Fitch on Thursday said India is less vulnerable to risks from capital flight on account of the drop in oil prices and the government’s reform agenda.
India had previously been clubbed with Brazil, Indonesia, South Africa and Turkey for being the most at risk to capital outflows following the US Federal Reserve’s proposed unwinding of the monetary stimulus.
5. Microsoft named its next Web Browser as Edge
Microsoft, American multinational technology companyannounced Edge as its next Web Browser’s name at the Build Developer Conference held at San Francisco in California, USA.
Earlier, Microsoft had called it as Project Spartan; a code name given by the company. The browser is intended to replace the Internet Explorer (IE) in future.
6. Former Gujarat assembly speaker Barjorji Pardiwala passed away
Former Gujarat assembly speaker Barjorji Pardiwala passed away due to age-related illness at a private hospital in Ahmedabad. He was 86.
Pardiwala was also a renowned lawyer in Valsad. Pardiwala joined the lawyer's bar at Valsad town of Gujarat in 1955 and practiced the law for more than 40 years.
Microsoft, American multinational technology companyannounced Edge as its next Web Browser’s name at the Build Developer Conference held at San Francisco in California, USA.
Earlier, Microsoft had called it as Project Spartan; a code name given by the company. The browser is intended to replace the Internet Explorer (IE) in future.
6. Former Gujarat assembly speaker Barjorji Pardiwala passed away
Former Gujarat assembly speaker Barjorji Pardiwala passed away due to age-related illness at a private hospital in Ahmedabad. He was 86.
Pardiwala was also a renowned lawyer in Valsad. Pardiwala joined the lawyer's bar at Valsad town of Gujarat in 1955 and practiced the law for more than 40 years.
7. Jaitley drops plan to strip RBI of powers to regulate govt debt
Finance Minister Arun Jaitley on Thursday tried to soothe the Reserve Bank of India and Foreign Institutional Investors by making changes to the Finance Bill.
The Finance Bill for 2015-16 was passed in the Lok Sabha
To make peace with the RBI, Jaitley deferred the plan to set up a Public Debt Management Authority (PDMA), which would have taken away the central bank’s power of regulating the Government’s borrowing market. The Bill had also proposed that SEBI will regulate the government securities market.
“Since the RBI has been handling public debt management, the Government, in consultation with the RBI, will prepare a detailed roadmap that will separate RBI’s debt management and market infrastructure functions and have a unified financial market. It has, therefore, been decided to delete the PDMA provisions from the Finance Bill for this financial year,” he said while moving the Bill for debate and approval in the Lok Sabha on Thursday.
He also clarified that the Centre was committed to unifying the financial market both by making government securities a part of this market and also by creating a proper bond-currency derivative nexus.
Finance Minister Arun Jaitley on Thursday tried to soothe the Reserve Bank of India and Foreign Institutional Investors by making changes to the Finance Bill.
The Finance Bill for 2015-16 was passed in the Lok Sabha
To make peace with the RBI, Jaitley deferred the plan to set up a Public Debt Management Authority (PDMA), which would have taken away the central bank’s power of regulating the Government’s borrowing market. The Bill had also proposed that SEBI will regulate the government securities market.
“Since the RBI has been handling public debt management, the Government, in consultation with the RBI, will prepare a detailed roadmap that will separate RBI’s debt management and market infrastructure functions and have a unified financial market. It has, therefore, been decided to delete the PDMA provisions from the Finance Bill for this financial year,” he said while moving the Bill for debate and approval in the Lok Sabha on Thursday.
He also clarified that the Centre was committed to unifying the financial market both by making government securities a part of this market and also by creating a proper bond-currency derivative nexus.
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