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OTAs Top Stories
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
Top Stories Trade News
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
Ministry Top Stories Trade News
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
Top Stories Trade News
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
Top Stories Trade News
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
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