The government on Tuesday moved a fresh proposal to cap cash transactions at Rs 2 lakh instead of Rs 3 lakh as provided in the Budget, as it introduced an amendment to this effect in the Finance Bill cleared by the Lok Sabha on Tuesday. The tightening of the cap[Read More…]
Tag: Transaction
Banks likely to charge cash transactions; HDFC first to notify
Paytm reaches seven million daily transactions
With people being reluctant to shell out the cash they stood hours in line for, digital payments company Paytm said on Monday it witnessed over seven million transactions worth Rs 120 crore on Saturday. Paytm has crossed $5 billion GMV sales, four months ahead of its target, reports PTI. Gross[Read More…]
Ban on cash transactions above ₹3 lakh: SIT on black money
The Special Investigation Team (SIT) on black money has recommended banning cash transactions of ₹3 lakh and above and restricting cash holding with individuals and industry to ₹15 lakh to curb illegal wealth in the country. Headed by Justice MB Shah, the committee submitted its fifth report to the Supreme[Read More…]