Skip to main content

Featured Post

AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
1 comment
Read more
Labels

Centre is not considering applying service charges on UPI transactions

The Union Finance Ministry has clarified that no service charge would be levied on UPI transactions.

“UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means,” the Finance Ministry said in a tweet.

“The Govt had provided financial support for #DigitalPayment ecosystem last year and has announced the same this year as well to encourage further adoption of #DigitalPayments and promotion of payment platforms that are economical and user-friendly, ” it added.

The clarification from the government comes after media reports claimed that a latest RBI paper titled “Discussion Paper on Charges in Payment System” had literature implying that the central bank was considering adding fees to each financial transaction made through the UPI system. The reports had sparked buzz on social media with several people also seeking clarification for GOI handles on the report.

The discussion paper by the RBI covers all aspects relating to charges on not just UPI but other payment systems like IMPS, NEFT, RTGS, debit, credit cards and PPIs.

“Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries. To ensure this balance, it was considered useful to carry out a comprehensive review of the various charges levied in the payment systems by highlighting different dimensions and seeking stakeholder feedback,” it said.

–IANS

The post Centre is not considering applying service charges on UPI transactions appeared first on BGR India.



from BGR India https://ift.tt/qIVdaHs
via IFTTT
Email Post
Labels:

Comments

Post a Comment

add