Latest news with #UPI-linked
Mint
18 hours ago
- Business
- Mint
5 best credit cards for senior citizens 2025: Compare top no-fee and low-fee options
Credit cards for senior citizens are becoming more common in India due to advancing banking products and, ultimately, financial inclusion. These cards, specifically designed with ease, security, and rewards in mind, can help seniors maintain their independence financially, get unique benefits, and manage emergency expenses effectively. Let's explore what it means for a senior citizen to have a credit card. Financial trends change after an individual retires. Despite fluctuating income, access to safe and convenient transactions is always a need. Credit cards allow senior citizens to access a safer way to pay for anything from telephonic doctor's appointments to electricity bills, vacations, necessities, as well as cashbacks, rewards and discounts that meet their needs. It is important to evaluate credit cards based on the features that most apply to seniors, before applying for a credit card: Minimal/no annual fee: Cards that do not charge an annual renewal fee or cost a very minimal amount can save you money over a long time. Cards that do not charge an annual renewal fee or cost a very minimal amount can save you money over a long time. Discounts on health care products: Some provide cashback for medical examinations and also for pharmacy expenses. Some provide cashback for medical examinations and also for pharmacy expenses. Airport lounge access: Lounge access provides some convenience and comfort for older travellers. Lounge access provides some convenience and comfort for older travellers. Waivers for fuel fees: This means something for those individuals who still drive/travel the roads. This means something for those individuals who still drive/travel the roads. Reward programs: Cards which provide cashback or points for our necessities, such as prescription drugs or groceries. Require OTP verification at all times for every online transaction. Check your statements often and report any peculiarities immediately. Never provide the CVV for your card or the card details. Credit cards Joining fees IDFC First Wow Credit Card Nil ICICI Bank Platinum Credit Card Nil Axis Bank My Zone Easy Credit Card ₹ 500 SBI Card Unnati Nil (first year) IDBI Imperium Platinum Credit Card ₹ 499 (Note: Please visit the bank's official website to learn more about the fees & charges of the credit card of your choice) 1. IDFC First Wow Credit Card: Excellent choice for seniors on fixed incomes because there are no annual or membership fees. Accepted by all RuPay network merchants, plus UPI-linked payments. 2. ICICI Bank Platinum Credit Card: No annual fee for basic usage, making it ideal for smart shoppers who use it infrequently. Earn one reward point for every ₹ 100 spent on grocery, utilities and other purchases. 1% waiver on fuel transaction fees at all petrol stations in India. 3. Axis Bank My Zone Easy Credit Card: Save up to 15% off at participating restaurants. Enabled tap-and-pay for secure, fast transaction payment. Get movie and lifestyle discounts. 4. SBI Card Unnati: Seniors can use it for free for the first four years. Earn one reward point for every ₹ 100 spent. Waive 1% for fuel purchases to assist your travel needs. 5. IDBI Imperium Platinum Credit Card: Low renewal and annual fees with appealing waiver clauses. Earn points on all purchases to redeem in various ways. Additional cards with specific restrictions can be issued to family member accounts. In conclusion, with options for day-to-day savings, travel and medical benefits, seniors can reap the benefits of plastic money without any hassles or concerns over money. As the financial world changes, older adults need to be able to use these products safely, intelligently and importantly, confidently. For all personal finance updates, visit here. Disclaimer: Mint has a tie-up with fin-techs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
The Print
23-07-2025
- The Print
Karnataka: Man duped of Rs 15.5 lakh in online scam via messaging app
Ashwith, according to police, received a WhatsApp message on January 28, 2025, from a number registered under the name Meena Sakpal, inviting him to join an 'S-coin investment task' through the app. The victim, identified as Ashwith, filed a complaint at the Karkala town police station, following which an FIR was registered under the Information Technology Act, they added. Udupi (Karnataka), Jul 23 (PTI) A 34-year-old man has allegedly lost over Rs 15.5 lakh to an online scam after being lured into a fraudulent investment scheme via a messaging app, police said on Wednesday. Believing the message to be 'genuine', he followed the instructions, shared his account details, and made multiple payments between January 29 and June 19, 2025. The funds, totalling Rs 15,52,650, were transferred from his Maharashtra Bank account in Mangaluru to a UPI-linked account. After making the payments, he was asked to invest more and later told to pay a tax to retrieve his money, a senior police officer said. When the funds were not returned, Ashwith approached the police. Further investigation is underway, police added. PTI COR AMP SSK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
23-07-2025
- Business
- Hindustan Times
Karnataka small businesses rally against GST demands on UPI transactions after tax notices spark anxiety: Report
Small-scale business owners and market vendors across Karnataka are expressing alarm after being issued Goods and Services Tax (GST) notices by state tax authorities. The concerns have been triggered by a recent tax department directive, which sent notices to traders whose total UPI (Unified Payments Interface) payments surpassed ₹40 lakh in a single year. Affected vendors are urging the state government to cancel these notices and reconsider enforcement policies for small businesses and traders, news agency ANI reported. Bengaluru: Vendors urge the government to cancel GST notices, citing thin profit margins and lack of guidance on tax liabilities as major concerns.(REUTERS/Representational image) ALSO READ | Bengaluru UPI panic explained: Why small traders are saying 'no to QR, yes to cash' Representing the Karnataka Pradesh Street Vendors Association, Abhilash Shetty highlighted the precarious nature of small vendors' profitability. He pointed out that typical margins barely reach 10 per cent, making it impossible for these businesses to cope with the combined weight of tax and penalties, which, he claimed, can amount to half their total turnover. Shetty called on state officials to intervene, emphasizing that without relief, many vendors may be unable to continue operating, as quoted by ANI. ALSO READ | Karnataka launches 'Know GST' drive to calm UPI-linked tax panic among traders: Report Adding to the outcry, the association's legal counsel, Advocate Shakuntala, also spoke to reporters about the matter and criticized governmental authorities for not adequately informing new business registrants about their tax liabilities. She questioned why educational efforts were not made during the registration process, arguing that a lack of guidance had left many vendors unprepared for tax regulatory compliances. A vegetable seller in Haveri shared his ordeal after being slapped with a tax notice for ₹29 lakh by Bengaluru tax officials. He explained he had not registered for GST, believing that fruits and vegetables were exempt from such tax rules. "The officials have told me that if it is proven that I have done so much business in vegetables, the notice will be withdrawn…" he said in the report. ALSO READ | Former CM Bommai slams Karnataka govt over GST burden on small traders, urges for relief Political slugfest ensues in Karnataka The opposition BJP seized upon the situation, attacking the Siddaramaiah-led Congress government in the state for what they described as an indiscriminate crackdown against small traders. Karnataka Deputy Chief Minister DK Shivakumar addressed the allegations and said the BJP was trying to shift the blame of GST notices to small traders on the state government. 'The BJP government at the Centre had fixed a turnover limit of ₹40 lakh for the GST registration and had also intimated the state governments to follow it. The GST office has issued notices to approximately 14,000 traders, including vendors of tender coconuts, flowers, and vegetables. Our leader, Rahul Gandhi, had opposed the GST in the past. The BJP must withdraw the GST notices issued to small traders. The CM will discuss with the officials and take necessary steps on the GST notices issued,' he said, as quoted by the agency. (With inputs from ANI)
Mint
22-07-2025
- Business
- Mint
What is credit on UPI and why it matters to your finances
Unified Payments Interface (UPI) has been the backbone of India's digital payment revolution for the past several years. What started as a convenient payment method within India has now transcended borders, with UPI adoption spreading to neighbouring countries as well. As of the first quarter of FY 2025–26, nearly 675 banks are live on UPI, processing over 18 billion transactions per month, with a total transaction value exceeding ₹ 24 lakh crore. In essence, UPI has transformed the way we make payments, turning digital transactions into an everyday habit for millions of Indians. From buying a packet of milk to purchasing daily vegetables or even more significant discretionary items like clothing, electronics and even digital gold - UPI has become a seamless and trusted way to pay. What's even more remarkable is that UPI isn't just a favourite among the younger, tech-savvy generation, it has also found acceptance among older users, including baby boomers, who have adapted to this digital mode with ease. But UPI is no longer just about payments. In recent years, UPI has evolved into a broader financial ecosystem. One of the most notable developments came in 2023, when the National Payments Corporation of India (NPCI) introduced 'Credit on UPI.' This move enabled users not only to make payments digitally from their bank accounts but also to borrow money digitally and use it for payments, all within the UPI framework. Credit on UPI can be broadly categorized into two types: UPI-Linked Short-Term Loans: This facility allows individuals to access small-ticket loans, ranging from a few thousands to up to a lakh rupees, which are credited directly to their bank accounts. These accounts are already linked to their UPI IDs, enabling users to make purchases or transfers using UPI, just like they would with their own funds. RuPay Credit Cards Linked to UPI: Another channel is the ability to link RuPay credit cards to a UPI ID. This allows users to tap into their credit card limits and make UPI payments using credit. While this is currently limited to RuPay credit cards (Visa and Mastercard are not yet supported), it adds another dimension to how users can access and utilize credit digitally. However, not all merchants currently support payments through UPI-linked credit cards. The number is growing steadily as more businesses upgrade their infrastructure to accept this form of payment, but coverage is still expanding. While UPI-based credit offerings make borrowing and payments more accessible, they still operate under the traditional principles of lending. Just like a personal loan or a credit card, any form of UPI credit requires the lender to assess the borrower's creditworthiness. This is typically done using credit bureau reports and credit scores. Moreover, these credit lines, whether through a RuPay credit card or a UPI-linked short-term loan, are reported to credit bureaus. That means your usage, repayment behaviour, and delinquencies (if any) directly impact your credit report and your credit score. For many users, the experience of using credit via UPI may feel no different from using their regular bank balance. But it's crucial to remember: you are borrowing money, not spending your own funds. This convenience should not come at the cost of financial responsibility. Users must maintain the same discipline with UPI credit as they would with any traditional credit facility. This includes: Borrowing only when necessary Making repayments on time, whether in EMIs or lump sums Understanding the repayment terms clearly Avoiding defaults, which will be reported to credit bureaus Any delay or missed payment will be flagged as delinquency, negatively impacting your credit score and future borrowing potential. A poor credit score can limit your access to financial products or result in higher interest rates when you apply for loans later. Credit on UPI brings a new level of convenience and flexibility to India's digital payment ecosystem. It simplifies access to short-term credit and integrates it seamlessly into the UPI platform we already use daily. However, with this ease comes the responsibility to manage credit wisely. As digital credit becomes more integrated into everyday transactions, it's essential to stay mindful of its implications. UPI may feel like you're simply transferring money from your bank, but when credit is involved, it's a loan, complete with reporting, repayment obligations, and long-term financial consequences. So, while credit on UPI makes life easier, use it consciously and repay it diligently. It's not just a payment- it's a financial commitment. Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial, legal, or professional advice. While every effort has been made to ensure accuracy, readers should verify details independently and consult relevant professionals before making financial decisions. The views expressed are based on current industry trends and regulatory frameworks, which may change over time. Neither the author nor the publisher is responsible for any decisions based on this content. Ramkumar Gunasekaran, Director Sales, CRIF High Mark
Time of India
15-07-2025
- Time of India
Mobile & CCTV lead to arrest of 2 cons in Kashmir
Bhopal: After a trail that led cops from Bhopal to Bangalore, two students involved in cyber-con were arrested from Kashmir by govt railway police (GRP). The duo allegedly stole the mobile of a man from Sagar from a train and they subsequently used it to siphon off Rs 5.5 lakh from the victim's UPI-linked bank account. SP (Rail) Rahul Kumar Lodha said that the investigation began on May 6, when Tanveer Arif, a resident of Sagar and a footwear shop owner, lodged a complaint at GRP Bhopal, saying that his mobile phone was stolen from the charging point of the AC-3 coach of the Rajdhani Express while travelling from Bhopal to Hazrat Nizamuddin. A case was filed. A day later, the complainant discovered that the stolen mobile was linked through UPI to his two bank accounts, and an amount of approximately Rs 5.5 lakh was fraudulently withdrawn. GRP (Bhopal) SHO Zaheer Khan said that given the seriousness of the offence, senior officers directed a specialised team to investigate the case on priority. The team traced the movement of funds across various accounts, revealing that the culprits used gift cards to purchase an iPhone. Using cyber tracking tools, the team traced the iPhone to Pune. When the team nabbed the phone user, he revealed that he purchased the phone from a shop in Bangalore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pernas e tornozelos inchados? Descubra o que pode ajudar a drenar agora aartedoherbalismo Undo The team then reached Bangalore, where the mobile shop owner confirmed the purchase. Based on the CCTV footage, the team identified the accused and reached J&K, where they apprehended the accused Faizan from Baramulla. He admitted to committing the theft along with his friend Shaukat. Faizan and Shaukat are nursing students in a college in Bangalore. Faizan revealed they stole the mobile when they were on the train en route to Bangalore to submit academic documents at their college. SHO Khan said that Faizan was arrested with Rs 1.02 lakh in cash. Shaukat was arrested on July 13 from Bhopal. He admitted to transferring the stolen money to a betting app, and the remaining Rs 2.18 lakh was seized. Around Rs 3.2 lakh in cash, expensive devices, and frozen funds were recovered.
