#electronic transactions

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Amazon brings the cloud closer to Greece

AWS Local Zone is a part of Amazon’s global cloud that is installed locally in Greece – It is generally available in July Most people use daily services based on cloud without them knowing it. Every time someone saves photos on their mobile phone, makes an online banking transaction, buys something from an online store, watches a movie via streaming or uses an artificial intelligence…

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CBN reduces charges on electronic transactions

CBN reduces charges on electronic transactions

The Central Bank of Nigeria (CBN) has announced a downward review of charges for electronic banking transactions in its revised guidelines to charges by Banks, Other Financial Institutions (OFIs) and Non-Bank Financial Institutions. A circular by Chibuzor Efobi, for the Director, Financial Policy and Regulation Department, stated that the review was in response to “further evolution in the…

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I-T warns banks of penalty for charging fee on e-payments

I-T warns banks of penalty for charging fee on e-payments

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NEW DELHI: The income tax department on Sunday hit out at banks levying fee on electronic transactions or payments via tools such as UPI, warning them of penal action for violating the law. Last year, the government had inserted a new provision mandating every business with annual turnover of Rs 50 crore or more to provide customers the choice of making payment through prescribed modesof…

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Don’t Levy Charges On Electronic Transactions, Finance Ministry Tells Banks Representations were made that some banks were imposing charges on UPI transactions. The Ministry of Finance has advised banks not to collect any charges on transactions or payments made through electronic mode, the Central Board of Direct Taxes (CBDT) said in a statement on Sunday.

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Don't Levy Charges On Electronic Transactions, Finance Ministry Tells Banks

Don’t Levy Charges On Electronic Transactions, Finance Ministry Tells Banks

Representations were made that some banks were imposing charges on UPI transactions.

The Ministry of Finance has advised banks not to collect any charges on transactions or payments made through electronic mode, the Central Board of Direct Taxes (CBDT) said in a statement on Sunday. According to the CBDT, representations were made that some banks were imposing and collecting charges on…

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Don’t Levy Charges On Electronic Transactions, Finance Ministry Tells Banks Representations were made that some banks were imposing charges on UPI transactions. The Ministry of Finance has advised banks not to collect any charges on transactions or payments made through electronic mode, the Central Board of Direct Taxes (CBDT) said in a statement on Sunday.

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Don’t Levy Charges On Electronic Transactions, Finance Ministry Tells Banks Representations were made that some banks were imposing charges on UPI transactions. The Ministry of Finance has advised banks not to collect any charges on transactions or payments made through electronic mode, the Central Board of Direct Taxes (CBDT) said in a statement on Sunday.

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CBN Directs Banks To Resolve Backlog Of Electronic Transactions Within Two Weeks

CBN Directs Banks To Resolve Backlog Of Electronic Transactions Within Two Weeks

A file photo of CBN Governor, Mr Godwin Emefiele.

Banks have been directed to resolve all backlog issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020.

The directive which was issued by the Central Bank of Nigeria (CBN) also revised the timelines for reversals and resolution of refund…

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