Technical Information

New Excel features announced by Microsoft: Details

2022-12-23T00:16:00.007-08:00

A Series of new functions were added to Microsoft Excel on Tuesday. It is covered in the web, Mac and Windows versions among which Excel for web has the largest number of updates. Microsoft has added a new tool in Excel using which images can be added to the cells as an alternative to text.

Microsoft says that all the new features are a result of users’ feedback. The other functions that are added include “Formula by Example”, “Formula Suggestions”, “Formula Suggestions”, “Suggested Links” and “Add search bar in queries pane.”

The new images tool of Excel was first suspected in August. Using this fresh feature users can source images from a location which can be added into the cells. Apart from the, functions involved with this tool are sorting, filtering, moving and resizing images.

The other newly added features that were added alongside the images features is “Formula by Example”. It identifies a pattern intelligence and when users perform a task manually with repetitive data then a “Flash Fill” like option is shown to the users which shows suggestions that replaces static texts.

“Formula Suggestion” is another feature that suggests SUM, AVERAGE, MIN, MAX, COUNTA and COUNTA by typing the “=” sign in a cell or on the formula bar. It is based on contextual insights from the data on the spreadsheet that is already existing.

The “Suggested Links” feature on the other hand offers collusion for broken external links to Cloud workbooks. Using this feature, Excel will give suggestions regarding new locations directly to fix the broken links and allow a new cloud workbook storing the data.

“Add search bar in queries pane”, will offer a better way to look for files using the new search bar offered to Excel for web within the Queries search pane.

Other than the features that have been rolled out recently, some more features might be added and offered to Insiders in the initial stage.

Source: msn

How to Share files in File Explorer

2021-03-16T06:46:00.000-07:00

To share a file, select it, go to the Share tab, and select Share.

Use OneDrive

If you have OneDrive files saved on your PC, there are a couple ways you can share them from File Explorer:

Get a link you can share with anyone. Right-click (or press and hold) a OneDrive file or folder and select Share a OneDrive link.(If you're using OneDrive for Business, select Share, select Copy Link, then select Copy.) Now you can post the link wherever you like.

Email a link to just a few people. Right-click (or press and hold) the file, select More OneDrive sharing options > Invite people, then enter their email addresses. (If you're using OneDrive for Business, select Share, select an option from the drop-down list box, and select Apply. Then enter email addresses above the blue line and select Send.)

Technical Information || Desktop icons settings in Windows 10

2020-03-24T03:38:00.003-07:00

Your desktop icons may be hidden. To view them, right-click the desktop, select View, and then select Show desktop icons. To add icons to your desktop such as This PC, Recycle Bin and more:

1. Select the Start button, and then select Settings > Personalization > Themes.

2. Under Themes > Related Settings, select Desktop icon settings.

3. Choose the icons you would like to have on your desktop, then select Apply and OK.

4. Note: If you are in tablet mode, you may not be able to see your desktop icons properly. You can find the program by searching for the program name in File Explorer. To turn off tablet mode, select action center on the taskbar (next to date and time), and then select Tablet mode to turn it on or off.

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First-of-its-kind Water ATM installed at Connaught Place in Delhi

2017-09-22T00:40:00.001-07:00

The first Air to Water ATM has been introduced in India. This will make drinking water from thin air and it has been installed in Delhi’s Connaught Place. It will make 500 litres of clean and safe drinking potable water from ordinary air every day. The machine traps the moisture in the air and passes it through different filters to clear out impurities. Then, the water vapour is condensed using a coolant. After the water vapour is condensed, minerals are added to produce water. Using 1 kilowatt of energy, the water ATM can produce 4 litres of drinking water. The price of water will depend on the energy consumed. Reference Water-Gen from Israel

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Xiaomi Mi A1 offers more than just pure Android experience

2017-09-18T23:21:00.002-07:00

Xiaomi Mi A1: Designed in partnership with Google, it is a brilliant dual camera phone with promising Android One

How to recover data from a hard drive (stuck heads: buzzing, clicking, etc)

2017-06-10T22:22:00.001-07:00

Microsoft Surface Laptop first look

2017-06-10T22:19:00.001-07:00

Top 10 Best iPhone Tips & Tricks You've Never Used - iOS 10

2017-06-10T22:11:00.001-07:00

Microsoft to bring focused Inbox and more for Gmail in Windows 10 Mail app

2017-04-22T05:04:00.001-07:00

Last year, Microsoft introduced Focused Inbox to its Windows 10 Mail app. Although it was limited to the Office 365 users account. But now company want to bring this feature to all users.

In same effort, company is now bringing the Focused Inbox and more features for Gmail accounts. They rolled out an update to Mail and Calendar app to the Windows Insider in the fast ring. However you might not see this new feature right away. And since it's just the beginning in this direction then there might be some bugs.

But they will improve experience gradually to users with Gmail accounts in the Windows Insiders program over the next several weeks. Apart from the Focused Inbox Gmail users will also gets many other notable features such as scanning inbox for parcel deliveries from places like Amazon and eBay, travel reservations and more.

Since Google is not in a mood to bring any apps on the Windows Platform, so it's pretty obvious that the using Gmail accounts via Mail app from Microsoft. And Microsoft also working on to improve the user experience that's really good.

Here take a note that the Microsoft just started the rolling out the update so it will took time to get these new features. And even if you get the update you might not able to access to it immediately.

Source from: India

WhatsApp ‘live location sharing’ feature spotted in beta build

2017-04-21T19:57:00.001-07:00

WhatsApp is set to add two new features to its platform - live location sharing and change number.

WhatsApp is set to add two new features to its platform – live location sharing and change number. WABetaInfo,

which is well known for its leaks on upcoming features of WhatsApp, has put out a tweet saying new change number is now live for Windows Phone 2.17.130. Live location, on the other hand, has been spotted on Android beta v2.17.150. Both the features are disabled by default.

WhatsApp's change number feature will allow users to notify contacts about their new number without losing any chat or group data. Users can choose to share their new number with all contacts, no contacts at all or only the ones they chat with. However, groups will be notified of user's new number regardless of which option they choose.

Source: Indian express

Today, we’re rounding up ten Windows 10 PCs from our partners across a variety of price points and form factors that unlock Windows Hello*.

2017-03-21T01:41:00.000-07:00

Windows 10 brings you built-in protection. That means more security features, safer authentication and ongoing updates delivered to you for the supported lifetime of your device, all at no extra cost. One of Windows 10's built-in security features is Windows Hello, designed to eliminate the use of passwords.

Windows Hello is multi-factor authentication that works natively with a PIN, integrated biometric sensor or an accessory. You can simply sign in with a look, touch or your PIN number – in less than two seconds** – and get enterprise-grade security without having to type in a password

With this great feature, we thought it would be helpful to round up a list of Windows 10 PCs from our partners that unlock Windows Hello with built-in facial recognition cameras or fingerprint readers. The devices we're highlighting range across form factors and price points, and are all available in a variety of markets to purchase today.

Thanks,

Thirmal Sangsetti

+91-90961 95764

Microsoft's phone revenue dropped by 71% in Q4 FY 2016

2017-03-15T11:53:00.001-07:00

It's not exactly a surprise to learn that revenues from Microsoft's phone divison dropped by a massive 71% year-to-year during its fiscal year 2016 fourth quarter.

Micrsoft's numbers showed that its overall devices business went down by 33% during the quarter, offset somewhat by the 9% rise in revenue from its Surface division. Microsoft did not share any specific unit sales numbers for its Lumia smartphones from the last quarter. The company has been drastically reducing its smartphone hardware efforts, but Microsoft has said it will continue to support Windows 10 Mobile.

That includes the use of the OS in the upcoming HP Elite x3 "superphone," and there are still, of course, rumors that Microsoft is working on a high-end "Surface" branded phone that could launch in 2017.

India to provide free Wi-Fi to over 1,000 villages

2017-02-01T23:26:00.001-08:00

After Facebook and Google, the Indian government plans on providing free Wi-Fi to villages across the country.

Representational image

The Indian government — in its effort to digitise India — is planning on providing free Wi-Fi to approximately 1,050 villages across the country. After Facebook and Google, the government of India plans on providing free Wi-Fi to villages under a new pilot project called Digital Village.

The project will be deployed over a span of next six months wherein each of those 1,050 villages will receive their own Wi-Fi hotspots mounted on a special tower that the villagers can use to connect their cell phones.

This government program costs around $62 million in its initial phase, as reported by CNN Tech. The program will eventually be extended to other regions of India.

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Why your PAN card is very important

2017-01-26T07:58:00.001-08:00

To prevent tax evasion from all kind of financial transactions made by an individual, the Income Tax Department of India has issued a unique 10-digit alphanumeric PAN Card for the citizens of India as well as NRIs. This card helps in tracking and identifying the financial records of individuals, mostly when transactions go beyond Rs.50000 or more.

A copy of PAN Card is required while you are buying a property, getting a new telephone connection, opening a bank account, doing any investment or making any payment. It is, therefore, must to have a PAN card for yourself if you are still not having it.

Buying and selling property: Buying and selling a property requires a lot of money. So whenever you want to sell or purchase an immovable property of Rs.5 lakh or more, you need to submit a copy of the PAN card.

Buying and selling of motor vehicle: To sell or purchase any vehicle which does not include two-wheelers including any detachable side-car having an extra wheel, etc. Mostly, when you are buying a motor vehicle for Rs.5 lakh or more, it becomes mandatory to submit your PAN.

Opening a bank account: While opening a fresh bank account, whether in a public, private, co-operative or other bank, you need to mention your PAN details in the application form. After your account is opened, then also you need to furnish your PAN details while depositing Rs.50000 or more in the bank account or while purchasing a bank draft or pay orders for an amount Rs.50000 or more during any day. Even while applying for a credit and debit card you need to provide the details of your PAN card.

Applying for a phone connection: If you wish to have a new telephone connection in your home or for business purpose, you need to ensure that you have mentioned your PAN details in the form while the installation of telephone or a cellular phone is done.

Travelling and staying in a hotel: Ensure that you are carrying your PAN card along with you because if you are staying in a hotel or restaurant, whether in India or in some foreign country, and your bill exceeds the amount of Rs.25000, then you need to provide a copy of your PAN card. Even while travelling to any foreign country and paying 25000 or more at one time, you need to submit a copy of it.

Deposits in Bank and PO Schemes: A PAN card copy is a must for all deposits and savings. Therefore while investing in a time deposit or depositing in any Post Office Savings Bank account where a deposit is made of Rs.50000 or more, you're required to furnish your PAN details

Doing Investments: At the time of tax deceleration, people invest a lump sum amount in ELSS fund to save tax. Therefore, it becomes necessary to disclose your PAN details while investing your money in mutual funds, whenever you are purchasing units for Rs.50000 or more.

Make sure whenever you are selling or purchasing securities over and above Rs.1lakh, you need to mention your PAN details.

Payments toward an entity or dealer: If you are making any payment of Rs.50000 or more towards the following, you need to submit a copy of your PAN card.

a. To a company while buying or acquiring shares, debentures, or bonds issued by them.

Towards RBI

c. Aggregate payments done towards paying the premium of Rs.50000 or more within a year for the purchase of a life insurance policy.

d. Doing payments to a dealer of Rs.5 lakh or more or towards a bill of Rs.5 lakh or more while buying bullion jewelry.

soure:msn

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Can I still make money from the Bitcoin?

2017-01-24T22:15:00.001-08:00

Crime, speculation, wealth, greed and drama are all words that were associated with the Bitcoin in the year 2013. This currency captivated millions of people around the world as we watch in awe at its souring highs and also its big lows in 2013. We saw in the space of one year this currency be valued at $10 right up to $1,200 surpassing the value of gold at its peak before it crashed way down to $500. Today depending on the exchange it can vary between $380 up to $680 at some points.

We truly watched anxiously as Bitcoin owners became millionaires and millions of dollars were transferred on the black market. While the creator of Bitcoin was a secret his identity was soon unravelled as being Satoshi Nakamoto.

Those that had the opportunity to buy into this currency were reluctant, but millions were quick to follow this saga. Why? Mainly due to its volatility and uncertainty but as we can see those that did get eaten into the craze enjoyed the rewards.

Whereas the government can decide when they print more money and how to distribute it, Bitcoin does not have any dependence on a bank or even the government, Bitcoins are created through mining. This is a difficult process which means solving a number of maths problems on specialist Bitcoin software. The power required to run this software is significantly higher than a regular PC which is why many computers are usually linked together to form a group.

One year on and Bitcoin is now enjoying a stable and much more mature future. It is becoming more legitimate and is being pushed towards the mainstream adoption of this currency.

But would you buy a Bitcoin? For those that waited and watched Bitcoin as it was created and went on a rollercoaster ride may be considering to buy this currency now and store it in a safe place. But how does it work and where can you spend this?

To put in simple terms this is the internet’s version to money which is why it is often referred to as “crypto currency”. Although the coin can be sold it cannot be used twice. But very similar to paper money it can be kept in a wallet. These are digital wallets which can be stored in a secure cloud environment or they can even be given in a physical form. Unfortunately if the cloud wallet is hacked or you were unfortunate to lose your private Bitcoin key you will no longer have access to this Bitcoin. This is worth bearing in mind if you are considering buying into this currency.

You can use this currency to buy things from an array of merchants that accept this currency or further still it can be exchanged for cash through a direct buyer or an exchange. The choice is yours. Furthermore you do not need to know the complex nodes and hashes in order to get involved in this currency. There are lots of people buying and selling through exchange.

Fwd: Nokia Lumia 920 Vs iPhone 5

2017-01-24T22:11:00.001-08:00

We put the Nokia Lumia and the iPhone 5 to the test. With so many auctions going on as we speak, there was never a better time to get your hands on a new gadget. Which one? The decision is yours.

Nokia Lumia 920

Everything is possible on MadBid, even getting a Nokia Lumia 920 worth £369.95 for under £25. Well worth placing a bid on this model, named The World's Most Innovative Smartphone.

With its 8.7 megapixel PureView camera for high quality pictures and intuitive PureMotion HD+ display the Nokia Lumia has an elegant and sturdy 4.5" tap and swipe touchscreen. The Nokia Lumia even comes with a wireless charger so you don't even need to plug it in.

Verdict

Speed is the name of the game with the Nokia Lumia with a Dual-core 1.5 GHz processor and Windows 8 operating system for email and messaging on the move. This phone is not all work and no play though: its Dual-core processor enables fast downloading of music and 3D games.

iPhone 5

You probably know everything there is to know about the iPhone 5. So we don't need to remind you that it has an 8 megapixel iSight camera or a 4" retina display. You may not know that you can snap an iPhone 5 for a fraction of its normal retail price of £529.99. In a recent auction a lucky bidder got an iPhone 5 for a fifth of the price.

The iPhone 5 features a fast Wi-Fi connection for streaming videos, games and music but also for messaging on the move while commuting to work.

The iPhone 5 has an A6 chip for enhanced graphics performance so if you are an Instagram fan you will enjoy many hours of picture editing.

Verdict

If you are quite new to Apple products the iPhone 5 is one of the best smartphones on the market for its intuitive interface, great design and image quality. If you like taking panoramic pictures the iPhone is the perfect travel companion.

Source: megabargain

World’s First Google Tango Phone Launched In India

2017-01-24T02:58:00.001-08:00

Google has been trying to compete with Microsoft in Augmented Reality with the launch of its new AR platform named Project Tango. Computer maker Lenovo partnered up with Google to produce the first Project Tango Phone for market launched, and today, the company launched the phone in India.

The phone will be a Flipkart exclusive, and it will cost Rs 29,990 online.

While Phab 2 is probably not the world's most compact phone -it's probably the opposite of that- the phone has some cool features to justify its price. The phone has advanced motion sensors, infrared camera, and a 16-megapixel rear RGB camera to power the augmented reality features built for Google Tango.

Lenovo Phab 2

Apart from the hardware made to support Google Tango, Lenovo has put some beefy specs on the phone too. The front of the phone is dominated by an enormous 6.4-inch QHD IPS Display and an 8-megapixel front camera for selfies. Powering the phone is an octa-core Qualcomm Snapdragon 625 SoC that has been tweaked to support AR features. The phone has 4 GB of RAM, and it comes with 64 GB of Internal storage which can be expanded up to 128 GB using microSD card.

Tango apps are more resource intensive than standard apps and to keep the phone powered, it comes with 4050mAh battery, which, at lease according to Lenovo, can last for 15 hours. The phone also has Dolby Audio 5.1 capture technology to record 3D audio.

Software wise, Lenovo will ship the phone with Google Android 6.0 marshmallow with Tango apps added.

LinkedIn Desktop Redesign Puts Conversations and Content at the Center

2017-01-20T07:40:00.000-08:00

Nokia EDGE 2017-UNBOXING Back Like A BOSS

2017-01-08T03:52:00.001-08:00

Samsung Galaxy J1 4G (SM-J120G) smartphone with 4G support launched at Rs 6,890

2017-01-08T02:40:00.001-08:00

NEW DELHI: Samsung has launched its latest Galaxy J series smartphone in India. Dubbed Galaxy J1 4G (SM-J120G), the smartphone is priced at Rs 6,890 and comes in Gold, White and Black colour options.

Samsung Galaxy J1 4G (SM-J120G) features a 4.5-inch Super AMOLED display with 480x800 pixel resolution. Running Android 6.0 Marshmallow out of the box, the smartphone is powered by 1.3GHz quad-core Spredtrum processor clubbed with 1GB RAM. It also comes with 8GB inbuilt storage with support for hybrid microSD card slot (up to 32B).

On the camera front, the Galaxy J1 4G (SM-J120G) includes 5MP rear autofocus camera with LED flash and 2MP front-facing camera with f/2.2 for selfies. The 4G and VoLTE supporting smartphone is backed by a 2,050mAh battery. The smartphone also includes features like UDS (Ultra Data Saving) and S Bike.

Recently, Samsung launched its Galaxy A (2017) smartphone series. The series includes three smartphones - Samsung Galaxy A7 (2017), Galaxy A5 (2017) and Galaxy A3 (2017).

All three will debut in Russia this month followed by other global markets. The new smartphones sport metal frame and 3D glass back and will be available in four colours - Black Sky, Gold Sand, Blue Mist and Peach Cloud. This also the first time Samsung has brought dust and water resistance (IP68) rating to Galaxy A series.

The three upcoming smartphones will support Samsung Pay service along with Samsung Cloud storage and Secure Folder, which debuted with Galaxy Note 7 last year.

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HMD Global launches first Nokia

2017-01-07T21:46:00.001-08:00

HMD Global, the Finnish company that owns the rights to use Nokia's brand on mobile phones, announced on Sunday its first smartphone, targeted for Chinese users with a price of 1,699 yuan ($246).

The launch marks the first new smartphone carrying the iconic handset name since 2014 when Nokia Oyj chose to sell its entire handset unit to Microsoft.

The new device, Nokia 6, runs on Google's Android platform and is manufactured by Foxconn. It will be sold exclusively in China through online retailer JD.com, HMD said.

"The decision by HMD to launch its first Android smartphone into China is a reflection of the desire to meet the real world needs of consumers in different markets around the world... it is a strategically important market," HMD said in a statement.

Nokia was once the world's dominant cellphone maker but missed the shift to smartphones, and then chose Microsoft's Windows operating system for its "Lumia" range.

After the 2014 deal, Microsoft continued selling cheaper basic phones under Nokia's name and Lumia smartphones under its own name, but last year, it largely abandoned both businesses.

HMD in December took over the Nokia feature phones business and struck a licensing deal that gave it sole use of the Nokia brand on all phones and tablets for the next decade.

It will pay Nokia royalties for the brand and patents, but Nokia has no direct investment in HMD. Nokia Oyj is currently focused on telecom network equipment business and technology patents.

HMD CEO Arto Nummela, who was once responsible for Nokia's sales and product development, told Reuters last month that HMD aims to be one of the key competitive players in the smartphone business where it faces tough competition from Apple (AAPL.O), Samsung (005930.KS) and dozens of other players.

HMD launched some new Nokia basic phones last month. It said on Sunday it was looking to launch more new products in the first half of the year.

(Reporting by Jussi Rosendahl and Eric Auchard)

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Modi's BHIM app - All you need to know

2017-01-05T02:15:00.001-08:00

Prime Minister Narendra Modi recently launched the BHIM app with a view to boosting digital transactions. Here is all you want to know about BHIM and also how you can set it up.

BHIM stands for Bharat Interface for Money.

The great thing about BHIM app is its simplicity and how it makes cashless transactions very easy. In apps like Paytm and MobiKwik, you have to recharge your e-wallet to use them. There is no such thing here in BHIM. It directly connects to your bank account — one account that you can specify — and then you can use it to make payments, receive money and make transfers.

BHIM app is an Aadhaar-enabled payment app developed by National Payment Corporation of India which is an aggregator for all UPI-based services offered by banks.
It uses the Unified Payment Interface (UPI) through which all the major banks in India are now connected. The transactions are instant, although there is a limit of Rs 10,000 per transaction. Also, you can't make transaction worth more than Rs 20,000 in 24 hours.
You will also need a working SIM that is required for number verification.
BHIM allows you transfer money between two banks using a smartphone seamlessly within a few seconds. In fact, it takes less than a minute to download, install and makes a payment.
You can download the BHIM app on a smartphone or a basic phone (of Rs 1,000-1,200), BHIM app can be used. It is not necessary to have the internet for this app.
This app can be downloaded from Google Playstore (for Android devices) and will be available on iOS (for iOS devices) soon.
The app registers the phone number of the first-time users.
It requires a fingerprint scanner on your smartphone. You do not need a debit card or credit card, all you need is your bank account linked to your Aadhar card.
All the major banks are supported by the BHIM app – as long as the bank supports UPI, you will be able to access your money through the BHIM app.
For non-smart phone and non-Internet users, USSD (Unstructured Supplementary Service Data) transfer system is a great alternative. USSD is a Global System for Mobile (GSM) communication technology used to send text between a mobile phone and an application program in the network. Applications may include prepaid roaming or mobile chatting.
The adoption of this app will minimize the role of plastic cards and point of sale machines.
It is already available in 11 regional languages and is a great option for rural citizens and widespread adoption of BHIM will completely revolutionize traditional transaction style.

How to set it up

Download BHIM app from Google Play store.
Once installed, open the app. It has a very simple user interface. It will tell you the purpose of the app and ask you to click Next button several times.
If there is an error, try again. The app is right now slightly slow and occasionally fails to connect. But try again.
The app will now verify your phone number by sending a message to its servers. Once the number verification is done, it will ask you to set up the BHIM PIN. This is actually the UPI PIN. Set it up.
The app will now show you the list of banks. Select your bank from the list. Using your phone number, the BHIM app will automatically fetch the details of your bank account.
The app will also generate a QR code for your ID as well as give you the UPI ID using your number that you can pass around to make transactions.

How to use BHIM app

On the home screen, the app has three options. Send money, request money and scan and pay.
Send money: The option is simple to use. Tap on it > enter the phone number of the person who is going to receive the money. The number will be verified and if a UPI/BHIM account has been set up for that number, the app will accept the number and will take you to the next screen where you can put in the money and send it.
If there is no number or UPI ID, you can also send the money using Bank Account + IFSC code. To access this option, click on three dots (settings) on the send money page.
Request money: Again, tap on the request button. Put in the number, let the app verify it. Once the verification is done, you can request the money.
Scan and pay: This is the place where QR codes come into the picture. The app generates a QR for every user, which can then be shared or printed and pasted. To make a payment to the QR code owner, just scan it and pay

MSI announces new gaming laptops with Intel 7th gen CPU and latest NVIDIA graphics

2017-01-04T23:16:00.001-08:00

At CES 2017, MSI today announced new gaming laptops with Intel 7th Gen CPUs and NVIDIA GeForce GTX1050 Ti & GTX1050 gaming graphics cards. These gaming notebooks are powered by the latest NVIDIA PASCAL graphics cards are are VR-ready. They come with improved audio experience with ESS SABRE HiFi technology. MSI GT83VR, GT73VR, GS73VR, GS63VR and GS43VR gaming laptops will support this SABRE HiFi DAC audio tech.

MSI is also including the Nahimic 2+ VR audio tech for all new gaming notebooks announced at CES. It has refined profile interface and, together with Nahimic VR by Nahimic 2+ technology, will be optimized for HTC VIVE kits in early 2017.

[Update: Mobile too] Windows 10 Build 14393.594 pushed out to Insiders in the Release Preview ring

2017-01-04T23:12:00.001-08:00

Update: The build is now available for mobile devices as well — however, there isn't a changelog available just yet.

Microsoft is getting ready for its monthly Windows 10 maintenance update by pushing out Windows 10 Build 14393.594 to the Release Preview ring for testing.

KB3209835 associated with the update has not been updated with a changelog yet, but the update should only bring bug fixes and performance improvements and will also be rolling out to mobile at some point.

Insiders in the Release Preview ring can get the update by Checking for Updates in Settings.

Source: mspoweruser :)

Service Charge On Debit Card Transactions Resumed; Rs 2.5 Charge For Rs 1000 & Rs 10 Charge For Rs 2000

2017-01-03T09:12:00.001-08:00

Following the note demonetization of 8 November 2016, the Government, with the coordination of public and private sector banks, announced on 23 November 2016 that transactions made by debit cards would not be levied any transaction charges. This was to continue until the end of 2016. The charges on credit card transactions, meanwhile, remained unchanged.

Charges on debit card transactions resumed on 1 January 2017. A service charge of 0.25% will be levied on debit card transactions worth Rs. 1000 and 0.5% on transactions worth Rs. 2000. For example on transactions of Rs 1000, Rs 2.5 will be charged and Rs 10 for Rs 2000 worth transactions.

Service charges on credit card transactions continued undisturbed, with a service charge of Rs. 25 on purchases of Rs. 1000.

The service charges levied on transactions has been controversial with some banks charging users unreasonably high amounts, many times without the knowledge of the users. The Merchant Discount Rate (MDR) is the commission paid to the bank for every transaction made by the user. Since 2012, the Reserve Bank of India (RBI) has capped the MDR for debit card transactions up to Rs. 2000 at 0.75% and for transactions above Rs. 2000 at 1%.

In 2013, the RBI criticised the extra fees charged by banks, saying "There are instances where merchant establishments levy fee as a percentage of the transaction value as charges on customers who are making payments for the purchase of goods and services through debit cards. Such fee is not justifiable and are not permissible as per the bilateral agreement between the acquiring bank and the merchants and therefore calls for termination of the relationship of the bank with such establishments."

Source: Logical India

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