{"id":27173,"date":"2018-10-23T11:12:34","date_gmt":"2018-10-23T05:42:34","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27173"},"modified":"2018-10-23T11:12:34","modified_gmt":"2018-10-23T05:42:34","slug":"banks-may-risk-losing-%e2%82%b93800-cr-from-cards","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/banks-may-risk-losing-%e2%82%b93800-cr-from-cards\/","title":{"rendered":"\u2018Banks may risk losing \u20b93,800 cr. from cards"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/banks-may-risk-losing-rs-3800-cr-from-cards\/article19772841.ece\"><span style=\"font-weight: 400;\">\u2018Banks may risk losing \u20b93,800 cr. from cards\u2019<\/span><\/a><span style=\"font-weight: 400;\">: (The Hindu) <\/span><\/p>\n<p><b>Context<\/b><b><br \/>\n<\/b><\/p>\n<p><span style=\"font-weight: 400;\">As per the new report, the Centre\u2019s digital payments push, mainly card payments through Point of Sale (PoS) machines, may leave already capital starved banks bleeding by Rs. 3,800 crore annually.<\/span><b><br \/>\n<\/b><b><\/b><\/p>\n<p><b>What is the cause?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Post November\u2019s note-ban, the government has pushed banks into installing millions of PoS machines to encourage online payments.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">This resulted in increase in debit plus credit cards transactions at PoS from Rs. 51,900 crore in October 2016 to Rs. 68,500 crore in July 2017.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The estimate was for OFF-US transactions, the aggregate annual loss for card transactions at PoS terminals is around Rs. 4,700 crore.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">However, the net revenue gain per annum from ON-US transactions at PoS would be around Rs. 900 crore only.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Thus, the total annual loss to the industry is of around Rs. 3,800 crore.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2018Banks may risk losing \u20b93,800 cr. from cards\u2019: (The Hindu) Context As per the new report, the Centre\u2019s digital payments push, mainly card payments through Point of Sale (PoS) machines, may leave already capital starved banks bleeding by Rs. 3,800 crore annually. What is the cause? Post November\u2019s note-ban, the government has pushed banks into&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/banks-may-risk-losing-%e2%82%b93800-cr-from-cards\/\">Continue reading <span class=\"screen-reader-text\">\u2018Banks may risk losing \u20b93,800 cr. from cards<\/span><\/a><\/p>\n","protected":false},"author":62,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27173","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704933334},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27173"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27173\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}