Banking
Banks to receive advance income tax

For hassle-free income-tax (I-T) collection, RBI has designated 926 computerised branches of...

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Tax: No I-T for salary up to Rs 5 lakh/year

Salaried employees earning up to Rs5 lakh per year will not be required to file income tax...

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Plastic Money: HDFC bank’s mobile payment service

Movida, a mobile payments joint venture by Visa and Monitise, has signed an agreement with HDFC Bank to introduce a mobile payment service. The service allows HDFC Bank’s customers to pay bills, top up prepaid airtime and buy tickets. It is designed to operate across all mobile networks using any Visa and non-Visa branded payment account. It can be used anywhere and can be accessed by even basic phones. The system encompasses various security measures to maintain account integrity, including a PIN number to access the account information. Only the user’s bank-registered phone can be connected to the service. The service is being offered to a select number of valued customers initially before being rolled out across the country.

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