Tuesday, August 26, 2014

Payment gateways seek clarity on RBI directive on global online transactions

..........Shiv Putcha, associate director, mobility at IDC, said that RBI is rightly concerned with the payment process as the digital payments is growing at a rapid pace and has a chance of affecting the forex situation of the country."We dont have a clarity yet on these payments that go overseas: whether these are service tax complaint. RBI does not want a back and forth forex transactions over which it has no control.”........

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