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Lenders again move RBI on wilful defaulter tag for non-performing accounts

CFO News

Banks have again approached the Reserve Bank of India (RBI) to request an extension in the deadline for classifying non-performing accounts as wilful defaulters, according to sources familiar with the matter.

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Paytm To Sell, Recharge eToll Payment Tags In India 

PYMNTS

Our efforts are well-aligned with the government’s mission to ensure vehicles are equipped with toll tags,” said Satish Kumar Gupta, managing director of Paytm Payments Bank, in a statement. FASTags are prepaid rechargeable tags for toll collection that allow automatic payment deduction from a transponder affixed on a vehicle’s windshield.

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Facebook Axes Controversial Tag Suggestions, Adds Facial Recognition For All

PYMNTS

Facebook has announced it’s going to stop using its controversial Tag Suggestions feature, and facial recognition technology is going to be available to all of its users, Reuters reported Tuesday (Sept. Tag Suggestions, a feature that lets people tag friends, has been controversial.

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Effective Accounting Beyond Your Average Bookkeeper

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Proper accounting is one such example. While every business needs a bookkeeper to manage payments, billing, and cash flow, entrepreneurs should consider outsourcing their accounting needs. Why Outsource Accounting? Hiring an in-house accounting professional, such as a CPA, might make sense for certain businesses.

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COVID-19’s Price Tag Leaves Large Hospitals At Risk

PYMNTS

You want it to be a foregone conclusion that you're getting paid and you want the days in (accounts receivable) to be zero.”. “It’s having that card on file, having the payment plan, having the recurring [payment method] and not having to worry about it,” he said. The Path Forward For Patient Payments.

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SC verdict on banking frauds opens a window for tagged borrowers to seek case review

CFO News

The Court's ruling does not debar banks from declaring accounts as fraud but it means that borrowers must be given an opportunity to be heard before their accounts are classified as such.

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India's no longer 'fragile', can weather global market volatility

CFO News

In the face of global financial market turbulence, India's rupee appears more resilient due to a narrowed current account deficit (CAD) and bolstered forex reserves. Increased exports post-pandemic buffered the CAD, keeping it manageable at 2% in FY23 despite soaring commodity prices.