Look in

If from today you are not able to load fresh funds into your  mobile wallet , you can blame the  Reserve Bank  for it. In what could be a major impact on the  digital payments  industry, mobile wallets would be required to submit a full  KYC  for their users, without which the central bank would impose severe restrictions on its operations. While the  Payments Council of India , the industry body for the prepaid payments, made repeated appeals to the central bank to revoke the order and allow wallets till Rs 10,000 to operate without full KYC, the RBI said clearly that every payment instrument will have to abide by the KYC norms as they are also part of the extended banking ecosystem. "It will impact the Rs 12,000-crore industry in a major way and consumers will be severely impacted over the next few months, but we expect that in the long run it will be good for the overall ecosystem since wallets will get access to quality customers," sa...

To invest or not to invest - that is the question many of us have in our minds when it comes to cryptocurrencies at the moment. A lot of us are tip-toeing around the idea of investing in them but with all the uncertainty that surrounds them (both in terms of regulations and its legality) we remain cautious. Other than investing in an unregulated space and the potential risk of losing your money by falling prey to a ponzi scheme, you have more reasons to stay away from such investments. Here are six more reasons why you should stay away from cryptocurrencies (well, at leastuntithere is more clarity) 1. Banks have started stopping purchase of cryptocurrency with their cards Recently, Citibank in an email notification to its customers has said that its credit and debit cards cannot be used to purchase cryptocurrencies. Following this, SBI Card has also cautioned customers against risks associated with  bitcoin  and other crypto-currencies and is in d...