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We have noted the model of PhonePe, Google Tez and Paytm, whenever there are incentives or cashbacks, the transaction volumes pick up. This is another behavioural change,u201d said a top government official who is aware of the development. The person did not wish to be named. The share of BHIM in total UPI transactions has dropped to 5.75% in February from 40.5% in August last year, according to the latest data from the National Payments Corporation of India (NPCI), which tracks digital transactions in the country. The official said the move to offer cashbacks and incentives is also to encourage more transactions on the BHIM platform and reduce usage of cash. For this, the incentives for merchants for using BHIM-Aadhaar platform will be significantly increased to 0.5% of the transaction value upto Rs 10,000 against the earlier 0.25% of the transaction value of just Rs 2,000. The government admits that the offtake of the earlier scheme for merchants has been low (just a few lak...

At 18, Accenture Strategy makes most offers BCG, Amazon make second highest offers of 14 each 125 firms participated for placements 'Dream job' applications rise from 110 last year to 176 out of over 400 batch As against 7 last year, this year 6 students opted out of placements for own ventures Placements for the 2018 batch of the postgraduate programme in management (PGP) at Indian Institute of Management, Ahmedabad (IIM-A) concluded, with consulting and e-commerce majors emerging as top recruiters. Accenture Strategy made 18 offers, followed by The Boston Consulting Group (BCG) and Amazon with 14 each. Last year, Amazon was the top recruiter, with 18 offers. IIM-A now follows a cluster-based placement process. Companies across sectors are invited in 'cohorts', spread into different days during the weeks. This year, entities from multiple domains participated across the three clusters in final placements, with students being placed across 23 cohort...

In one of the biggest fraud cases to hit Indian banking, the country's second-largest lender Punjab National Bank (PNB) informed stock exchanges on Wednesday that it has been hit by embezzlement amounting to Rs 11,300 crore at one of its branches in Mumbai. Here is how the fraud took place: 1. The scam started in 2011. We ourselves found out about the fraud and reported it to the concerned agencies, Punjab National Bank (PNB) MD Sunil Mehta said in a presser on Thursday. 2. We detected the fraud on January 3. We got to know that 2 of our employees did some un-authorized transactions. The bank initiated criminal action against our staff members, the PNB MD said. This is a standalone incident. It has taken place only in one of our branches, Mehta said. 3. We have lodged FIRs and complaints. PNB has capability and capacity to come out of this, Mehta said. We have not shirked in our responsibility, he added. 4. On Thursday, the Enforcement Directorate (ED) reg...