Latest news with #RBI-approved
Time Business News
5 days ago
- Business
- Time Business News
RBI-Certified Gateways for Safe Online Transactions
In the ever-expanding Indian digital economy, ensuring secure and compliant online transactions is non-negotiable for businesses of all sizes. Whether you're running an e-commerce store, a SaaS platform, or offering services online, using an RBI-approved payment gateway is crucial. It ensures that your financial transactions meet regulatory standards, instills trust in your customers, and safeguards your business against fraud. This blog explores the best RBI-certified payment gateways for Indian businesses, along with their features, pricing, and benefits. The Reserve Bank of India (RBI) is the regulatory authority overseeing all payment systems in the country. A payment gateway that is 'RBI-certified' or 'RBI-authorized' adheres to the guidelines under: Payment and Settlement Systems Act Know Your Customer (KYC) guidelines Data localization mandates PCI-DSS compliance Choosing an RBI-compliant gateway ensures your business operates within legal boundaries while maintaining high levels of security and transparency. Regulatory Compliance: Avoid penalties and legal risks by meeting Indian fintech standards. Data Security: Protect customer card and banking information with advanced encryption and fraud detection. Global and Domestic Coverage: Ensure compatibility with Indian payment systems like UPI, RuPay, and international cards. Trust and Credibility: Customers are more likely to transact when they see familiar and secure payment options. Overview: Razorpay is a leading full-stack financial solutions provider in India, trusted by over 10 lakh businesses. Key Features: Supports UPI, cards, net banking, EMI, and wallets Instant activation and API integration Smart payment routing and retry options Supports recurring billing Pricing: 2% per transaction for domestic payments Additional fees for international and American Express cards RBI Compliance: Licensed as a Payment Aggregator under RBI guidelines Overview: A product by Paytm, one of India's largest digital payment platforms. Key Features: Accepts UPI, cards, wallets, net banking Instant refunds and dynamic QR codes High transaction success rate Developer-friendly API Pricing: ~1.75% per transaction (varies by payment method) RBI Compliance: Operates under RBI's Payment Aggregator license Follows strict data localization norms Overview: Cashfree is known for its quick onboarding and seamless API experience. Key Features: Offers 120+ payment options including UPI AutoPay Payouts, subscriptions, and split payments available Easy-to-integrate SDKs Pricing: UPI: Free or low-cost Cards and Net Banking: ~1.9% per transaction RBI Compliance: Licensed as a Payment Aggregator RBI-approved nodal account operations Overview: A veteran in the Indian payment space, widely used by enterprises and SMEs. Key Features: Multilingual checkout pages Smart analytics dashboard 200+ payment options Mobile-friendly checkout Pricing: Starts at 2% per transaction Custom pricing for large volumes RBI Compliance: Operates under RBI norms and PA licensing Strong focus on PCI-DSS and encryption standards Overview: A trusted payment aggregator used by top brands like Netflix, Airbnb, and Myntra. Key Features: Offers Smart Routing and One Tap payments Advanced fraud detection Subscription billing supported Pricing: ~2% for cards and wallets Custom pricing for enterprises RBI Compliance: Certified under RBI's Payment Aggregator guidelines Overview: Great for startups and solo entrepreneurs with simple setup and no-code tools. Key Features: Zero maintenance cost UPI and card support Instant payout options Mobile and web plugins available Pricing: Flat 2% + ₹3 per transaction RBI Compliance: Operates as a PA under RBI norms Here are factors to consider: Criteria Considerations Pricing Look beyond per-transaction fees. Evaluate hidden charges, setup fees, etc. Payment Modes Supported Ensure support for UPI, cards, net banking, wallets, EMI, etc. Integration Ease Go for gateways that offer APIs, plugins, and SDKs compatible with your tech stack Customer Support 24/7 support is crucial for uninterrupted business operations Payout Speed Faster settlements can boost your cash flow Security & Compliance PCI-DSS, SSL, tokenization, and KYC adherence are must-haves Using an RBI-certified payment gateway is not just a best practice—it's a necessity. With increasing regulatory scrutiny and customer expectations for data privacy and smooth transactions, Indian businesses must opt for gateways that comply with RBI norms. Whether you're a startup, SME, or enterprise, platforms like Razorpay, Paytm, Cashfree, and PayU offer secure, scalable, and cost-effective solutions tailored to your needs. Looking to integrate a payment gateway for your business? Partner with an experienced tech team like Infowind Technologies to seamlessly implement secure payment systems aligned with RBI standards. TIME BUSINESS NEWS
News18
6 days ago
- Business
- News18
Private Bank CEOs See 4-12% Hike In FY25 Salaries; Kotak Mahindra Bank CEO Draws Highest Pay
Among private sector peers, HDFC Bank CEO Sashidhar Jagdishan sees the steepest annual hike of 11.96%, with a total pay of Rs 12.08 crore in FY25, excluding employee stock options. Salaries of private sector bank CEOs rose between 4% and 12% year-on-year in the financial year 2024-25, with Kotak Mahindra Bank's new chief executive, Ashok Vaswani, emerging as the highest-paid among them with a total remuneration of Rs 12.95 crore, according to a report by Moneycontrol. Vaswani, who officially took charge on January 1, 2024, drew Rs 1.62 crore for the three-month period in FY24. His predecessor and bank promoter, Uday Kotak, had opted for a token Re 1 salary in FY23. Among private sector peers, HDFC Bank's CEO Sashidhar Jagdishan saw the steepest annual hike of 11.96%, with a total pay of Rs 12.08 crore in FY25, excluding employee stock options. Jagdishan was also granted 2,12,052 ESOPs in the previous fiscal. Notably, he received Rs 2.63 crore in January FY25 as part of the 50% cash variable pay for FY24, out of an RBI-approved total of Rs 5.25 crore, the bank's annual report showed. Axis Bank's CEO Amitabh Chaudhry earned Rs 9.11 crore in FY25, a marginal 0.2% increase from the previous year. He was granted 2,59,429 stock options, lower than 3,13,300 in FY24. At IDFC First Bank, CEO V Vaidyanathan took home Rs 5.55 crore, up 4.53% from Rs 5.30 crore a year earlier. He received 24,20,626 stock options in FY25, compared to 30,59,514 in FY24. According to the Moneycontrol report, these figures exclude full-year variable payouts, which often face delays due to regulatory approval processes. Overall, the average CEO salary hike among private banks stood at 6% in FY25, slightly lower than the 8% increase recorded in FY24. The annual reports for ICICI Bank and Yes Bank were not yet available at the time of publishing the story. Widening Salary Gap with PSU Banks The disparity in compensation between private and public sector bank chiefs remained stark in FY25. As per Moneycontrol, Jagdishan's salary alone was more than double the combined salaries of the top 10 public sector bank heads. The collective remuneration of CEOs at major PSU banks — including SBI, BoB, Canara Bank, PNB, and others — stood at Rs 5.13 crore in FY25, up from Rs 4.46 crore in FY24. PSU bank chiefs earned between Rs 42 lakh and Rs 81 lakh, significantly lower than their private sector counterparts. Bank of Baroda MD & CEO Debadatta Chand was the highest-paid among PSU chiefs, with a salary of Rs 74 lakh, up from Rs 58.70 lakh in FY24. He was followed by Indian Overseas Bank's Ajay Kumar Srivastava at Rs 64.40 lakh, and SBI Chairman Challa Sreenivasulu Setty at Rs 63.87 lakh. CEOs of smaller PSBs like Bank of Maharashtra and Canara Bank earned even less — Rs 37.81 lakh and Rs 42.41 lakh, respectively, in FY25. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
6 days ago
- Business
- News18
HDFC Bank CEO Sashidhar Jagdishan's Annual Pay Rises 12% To Rs 12.08 Crore In FY25; Details Here
Jagdishan's revised pay includes a basic salary of Rs 3.09 crore, allowances and perquisites amounting to Rs 3.46 crore, and a performance bonus of Rs 4.67 crore. HDFC Bank's Managing Director and Chief Executive Officer Sashidhar Jagdishan received a 12 per cent increase in his annual remuneration for the financial year 2024-25, with his total pay package rising to Rs 12.08 crore, compared to Rs 10.79 crore in the previous year, according to the bank's latest annual report. Jagdishan's revised pay includes a basic salary of Rs 3.09 crore, allowances and perquisites amounting to Rs 3.46 crore, and a performance bonus of Rs 4.67 crore. The annual report mentions that the HDFC Bank CEO was paid 50 per cent of the cash variable pay for the performance year 2023-24 — Rs 2.63 crore out of the total RBI-approved amount of Rs 5.25 crore — in January 2025. This disbursement was made in line with guidelines set by the Reserve Bank of India. Deputy MD Kaizad Bharucha Draws Rs 11.01 Crore The annual pay of Kaizad Bharucha, Deputy Managing Director of HDFC Bank, stood at Rs 11.01 crore for FY25, slightly lower than the Rs 11.13 crore he received in FY24. As on March 31, 2025, his remuneration included a basic salary of Rs 2.81 crore, allowances and perquisites of Rs 3.25 crore, and a performance bonus of Rs 4.19 crore. Bharucha was also granted 1.30 lakh employee stock options (ESOPs) on May 10, 2025, for his performance during the financial year 2023-24. In addition to this, he received a one-time ESOP grant of 4.77 lakh options for the period between 2020 and 2023 — prior to his appointment as Executive Director of the bank — in recognition of his performance at HDFC Limited. The annual report clarified that this grant was for the period before the amalgamation of HDFC Limited with and into HDFC Bank, which came into effect on July 1, 2023. For the performance year 2023-24, Bharucha was granted a separate 1.26 lakh ESOPs. ITC Chairman and Managing Director Sanjiv Puri received a total remuneration of Rs 25.66 crore during the financial year 2024-25, according to the company's annual report 2025. It is 1.5% higher than the total remuneration of Rs 25.28 crore he received in the previous year. Infosys CEO Salil Parekh is the leader among these CEOs by grabbing a total compensation of Rs 82 crore in FY2024-25, according to Infosys' Annual Report 2025. The break down of the salary looks alike: fixed pay of Rs 7.94 crore, bonus & performance-linked incentives of Rs 23.18 crore and perquisites (stock options exercised) of Rs 50.88 crore. TCS CEO K Krithivasan Salary: The total remuneration of TCS head for FY25 is estimated of Rs 26.52 crore. His package included Rs 1.39 crore in fixed salary, Rs 2.12 crore in benefits and allowances, and a substantial commission payout of Rs 23 crore, forming the largest chunk of his earnings. Wipro CEO Srinivas Pallia Salary: As per Wipro's annual report, Srinivas Pallia earned Rs 53.60 crore in FY2024-25 including salary, variable pay, long-term compensation and other benefits. On April 6, 2024, Thierry Delaporte resigned as the Chief Executive Officer and Managing Director of the company. Tech Mahindra CEO Mohit Joshi Salary: Mohit Joshi, the CEO of Tech Mahindra, received an annual pay of Rs 52.1 crore for the financial year 2024-25, according to the company's latest annual report. His compensation includes earnings from the Employee Stock Ownership Plan (ESOP), making his total pay a staggering 840 times higher than the average employee salary at Tech Mahindra. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India Today
6 days ago
- Business
- India Today
How safe are India's instant loan apps
Sometimes life throws surprises at us, a sudden medical bill, an urgent repair or an unexpected expense that needs money right many, instant loan apps seem like a quick fix, offering cash within minutes, no long forms, no bank queues, no hassle. But as more people hit 'install', one question keeps popping up: how safe are these quick loans really? Let's find IN MINUTES, BUT AT WHAT COST?From college students short on fees to families facing emergency hospital bills, thousands turn to instant loan apps for quick cash. The big draw is the speed. Some apps promise money in your account in just 10 to 30 minutes. All it takes is a smartphone, a few documents and a photo. But here's where it gets tricky, not all apps are genuine. While many are linked to banks or RBI-approved lenders, there are plenty of shady ones hiding behind flashy ads and too-good-to-be-true RISKS BEHIND QUICK MONEYYashoraj Tyagi, CEO, CASHe, explains, 'The biggest risk is falling for unregulated or fake apps. They often charge sky-high interest, hide extra fees and use aggressive recovery methods. Some even misuse your personal data and access your contacts to harass you if you miss a payment.'Imagine borrowing a small amount, then getting threatening calls at odd hours because you missed a payment. Worse, some apps misuse your contacts and send messages to friends or TO SPOT A GENUINE APPSo, how do you know if an app is safe to use? Tyagi advises, 'Always check if the app is connected to an RBI-registered NBFC or bank. This should be mentioned clearly in the app's terms or you can cross-check on the RBI's website.'Stick to trusted app stores like Google Play or the Apple App Store. Go through reviews, check the ratings and make sure the loan terms, interest rates and customer support details are clearly listed. Never allow unnecessary permissions, your contacts and gallery should remain DEBT TRAP DANGERWhy do so many people fall into a trap? Tyagi explains, 'Many borrowers are lured by the promise of quick, no-questions-asked loans. But these often come with very high interest rates and short repayment cycles. When they can't repay on time, they end up borrowing from another app to clear the first one, starting a spiral of repeated borrowing, mounting debt, and mental stress.'That easy money can quickly snowball into a bigger mess if you're not WAYS TO BORROWadvertisementSo, what's a better option if you're truly in need? Tyagi suggests, 'Borrowers should consider approaching regulated platforms backed by RBI-registered NBFCs or banks, or explore credit lines from trusted fintechs, microfinance institutions, or even employer-backed advance salary options.'Some cooperative banks and small finance banks also provide small emergency loans at fair interest INSTANT LOAN APPS MAKE SENSEThis doesn't mean all apps are bad. Used sensibly, they can help tide you over in an emergency. 'When used wisely and from trusted sources, instant loan apps offer fast access to funds without paperwork, ideal for emergencies like medical bills or urgent travel,' Tyagi can even help people build a credit history if managed properly. The key is to read the fine print, borrow only what you can repay and avoid multiple apps at the same the next time an ad pops up claiming 'Instant cash in minutes!', take a moment, check and think twice. A little caution today could spare you a world of trouble tomorrow.- Ends
India Gazette
09-07-2025
- Business
- India Gazette
Ludo platform Zupee's increasingly becoming popular; safety is our priority: Ravi Shankar Jha, Director, Public Policy
Lucknow (Uttar Pradesh) [India], July 9 (ANI): The skill-based ludo gaming platform Zupee has become increasingly popular, with a large number of people making a beeline to play the ludo game. 'Over the past few years, Zupee's Ludo game has become popular and a category-leader,' Ravi Shankar Jha, Director, Public Policy, Zupee, told ANI on Wednesday. Zupee was founded in 2018 by IIT Kanpur graduate Dilsher Malhi at a very young age. 'Our key offering is the game of Ludo. At Zupee, we digitised Ludo because a large number of people in India play and love this game. We tweaked the game a bit. The tweaking was needed to enhance the role of skill, and with the changes, the chance element has reduced. We also reduced the duration of the game so that it becomes fast-paced, and the gamers need to apply their minds and skills,' said Jha, speaking in Hindi. Zupee offers both free and real-money Ludo games on its platform. 'Over 90 per cent of our users have their lifetime spending on Zupee at less than Rs 100 on average,' Jha said, indicating that people are not betting their hard-earned money. 'People come to our platform for pure entertainment, and they only put a nominal amount of money,' he added. On the safety front, Jha said the Zupee platform invests time, resources, and effort in ensuring users' interests are protected. 'We keep our data safe and secure. We don't allow cash transactions. All transactions are made online, partnering with reliable payment gateway partners,' Jha noted. The company is in touch with the central government, said Jha, asserting that they have been discussing ways and means to regulate the real-money gaming space. 'Various state governments are also working on this. Zupee has been taking part in various platforms where discussions on the gaming space are held. We put forward our views constructively in those platforms,' Jha supplemented. Zupee currently has current has about 450 employees. Echoing on the safety aspect, Govind Mittal, Chief Spokesperson, Zupee, supplemented that Zupee only partners with RBI-approved payment gateway platforms for deposits and withdrawals. 'We have a mechanism to keep a fraud check. We block such frauds from our end, we don't allow their transactions,' he said. 'We also have a customer grievance redressal team.' Mittal, speaking to ANI, requested that the central government and the Uttar Pradesh government make a clear distinction between genuine and non-genuine platforms. 'A framework should be developed to make a distinction between gaming platforms, helping users to make an informed choice while taking part in real-money gaming,' Mittal added, speaking in Hindi. Zupee claims to offer 'games of skill,' in which a player's skill, knowledge, attention, experience, and capabilities are crucial to success. (ANI)
