MUMBAI: The Reserve Bank of India (RBI) has tightened payment security norms, making banks and other regulated entities more responsible for apps provided by third parties. In its new directive on digital payments security control, the central bank has got down to the minutiae of the transactions.
It requires banks that use third-party apps for digital transactions to have the apps’ source code in escrow should the vendor be unable to provide services. It is not clear whether this is applicable for only proprietary apps of the bank developed by third-parties or all third-party apps.
Bankers say that this regulation could have far-reaching implications if it is applied to third-party apps for the Unified Payments Interface (UPI).
BW Businessworld
Paytm s Vijay Shekhar, Innov8 CEO Invest In Startup Supersourcing
Supersourcing founder Mayank Pratap Singh said the company will hold the funds and spend only when necessary.
Photo Credit :
Digital payment firm Paytm founder Vijay Shekhar Sharma and co-working space provider Innov8 CEO Ritesh Malik have invested in eight-month-old company Supersourcing, the startup said on Monday.
Supersourcing founder Mayank Pratap Singh said the company will hold the funds and spend only when necessary. Billionaire investors Vijay Shekhar Sharma, Dr Ritesh Malik, and Nikhil Sharma have helped Indore-based Supersourcing raise Rs 1.5 crore in a round of seed funding, Supersourcing said in a statement.
Now there s an app for the Union Budget too
At the customary halwa ceremony that commences the final stage of the Budget on Saturday, Finance Minister Nirmala Sitharaman launched the Union Budget Mobile App.
0 claps
We all know, there s an app for every problem in the world.
At the customary halwa ceremony that commences the final stage of the Budget on Saturday, Finance Minister Nirmala Sitharaman launched the Union Budget Mobile App.
The app, which is bilingual (English and Hindi), will be available on both Android and iOS platforms.
Calling it the simplest form of digital convenience , FM Sitharaman said, The mobile app facilitates complete access to 14 Union Budget documents, including the Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill, etc., as prescribed by the Constitution.