OTAs Top Stories

Cleartrip, Axis Bank partner to provide array of travel benefits to credit card customers

By TBM Staff - Mumbai Wednesday, 23 August 2023, 12:00 PM 649

Cleartrip, a Flipkart company, and Axis Bank have partnered to introduce travel benefits while booking to all the existing and new credit cardholders. This collaboration offers customers an array of privileges for domestic flight bookings, including seats valued up to INR 1,200, free meals worth up to INR 500, exemption from convenience fees, and the […]Continue Reading

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IDFC FIRST Bank, Club Vistara and Mastercard to launch new travel credit card

By TBM Staff - Mumbai Wednesday, 12 July 2023, 4:30 PM 1405

IDFC FIRST Bank announced its collaboration with Club Vistara and Mastercard to launch a travel credit card. Designed to provide exciting travel and lifestyle-related offers to cardholders, the new card will combine seamless banking services with numerous travel benefits. The collaboration between the three companies highlights a shared commitment to provide value and Continue Reading

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Govt postpones implementation of revised TCS rule to October 1 from July 1

By TBM Staff - Mumbai Thursday, 29 June 2023, 11:00 AM 1356

The Ministry of Finance said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS. Also, the implementation of a higher rate of tax collected at source (TCS) of 20 per cent on overseas remittances under LRS, like tour expenses, has been deferred […]Continue Reading

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Credit card usage for international travel to come under tax ambit

By TBM Staff - Mumbai Monday, 22 May 2023, 10:00 AM 1356

Spending in foreign exchange through international credit cards will be covered under the RBI’s liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank, as per a Finance Ministry notification. The Union Budget 2023-24 hiked TCS […]Continue Reading

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E-commerce, travel transactions drive credit card spends in January

By TBM Staff - Mumbai Monday, 27 February 2023, 11:00 AM 426

According to a report in The Business Standard, the momentum in credit card spends continued in January, with spends topping INR 1 trillion for the 11th month in a row due to a rise in e-commerce transactions and discretionary spending, including travel. According to data released by the Reserve Bank of India (RBI), credit card […]Continue Reading