Businesses typically pay their vendors by bank transfers or commercial credit cards, sometimes mediated by fintechs. The latter are called business payment service provider (BPSP) transactions, now suspended by RBI.
While the exact reason for the abrupt move is not known, Arpit Ratan, co-founder and chief business officer of Signzy, a digital banking infrastructure provider, said that RBI's concern seems to come from the fact that certain recipients of card transactions may not be registered merchants, something that is not allowed by the KYC regime. KYC stands for know your customer.
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'MVA copying our welfare policies...people know this'
People have woken up to the false propaganda now... They have also understood that our govt can work for the welfare of all sections of society
Harris concedes election, 'but not the fight'; Biden urges calm
Kamala Harris, the Democratic nominee for president, acknowledged that her Republican rival, Donald Trump, had won the 2024 elections. But she warned that while she was conceding the election, she wasn't conceding the fight for freedom \"that fuelled her campaign\".
Terrorists claim to kill two defence volunteers
Two Village Defence Guards (VDGs) went missing from the Kishtwar district of Jammu on Thursday with an offshoot of terror outfit Jaish-e-Mohammed (JeM) claiming to have killed them and security forces launching a search operation to trace the two men.
SC restores DRI's powers, revives 20k-cr tax notices
A two-and-a-halfyear-old boy and a 37-year-old man were electrocuted after touching high-tension wires in separate incidents within hours of each other in Delhi's northwestern fringes on Wednesday, police said on Thursday, underscoring the hazards of the city's public infrastructure, which has resulted in at least 10 such deaths this year.
AFTER SALMAN, SHAH RUKH KHAN RECEIVES DEATH THREAT
Bollywood actor Shah Rukh Khan received a death threat at the Bandra police station in Mumbai on Monday night, police said, adding that they have identified a Raipur lawyer whose phone was allegedly used to threaten the actor if he did not pay ₹50 lakh.
SC QUASHES NCLAT RULING, ORDERS LIQUIDATION OF JET AIRWAYS
The Supreme Court on Thursday ordered the liquidation of Jet Airways while setting aside a National Company Law Appellate Tribunal (NCLAT) ruling in March that upheld the transfer of the defunct airline's ownership to the Jalan-Kalrock Consortium (JKC) under an approved resolution plan.
3 UNACQUAINTED MEN GANG UP TO RAPE MENTALLY ILL WOMAN IN S DELHI
The Delhi Police has arrested three men for gang-raping a 34-year-old mentally ill woman, officers said on Thursday, weeks after she was found walking near Sarai Kale Khan, bleeding and partially clothed.
Nivin Pauly thanks supporters after receiving clean chit in rape case
In a major relief for Malayalam actor Nivin Pauly, he has been cleared of all charges by the Kerala police in a rape case filed against him in September.
'RE-RELEASING FILMS IS TOO EXPENSIVE'
As the trend of re-releasing films in theatres gains momentum, director Hansal Mehta shares his take on it
It can get lonely: Sai on constantly seeking work
Actor Sai Tamhankar, who was recently seen in the crime thriller series Manvat Murders, has been dabbling in different industries. She admits that working across mediums without a break does take a toll on her.
