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Ola E-Bike Service: Fare is Only ₹5 per KM, Major Announcement for Delhi & Hyderabad

Ola E-Bike Service

Ola E-Bike Service: Ride-hailing platform Ola has launched e-bike service s in Delhi and Hyderabad. The company has also announced the price for e-bike services. As per the official statement, ola bike fares start from ₹25 for 5 km ₹50 for 10 km and ₹75 for 15 km.

There is a relief news for people using cab services to travel in the city. Because, now you will have to pay less for the ride. Ola has announced to start its e-bike service. After the success of this service in Bengaluru now there are preparation to start this service in Delhi and Hyderabad also.

Ola unvealed e-bike service in Delhi and Hyderabad under its ride hailing platform. The company said that if this project is successful than the fleet of e bike services will be expanded. The most special thing about ola e bike service is its low fare. E- bike will prove to be more economical for people travelling by petrol bike as it will save them a lot of money.

The fare for ola e bike service in Delhi and Hyderabad has been kept very low. It is Rs.25 for the first 5 km Rs.50 for first 10 km and Rs.75 for first 15 km. If this fare is calculated then it comes to rupees 5 per km. Ola saif that e-bike service will be the most economical sustainable and convenient service for transportation within cities.

The company also plan to deploy 10000 E-bikes in Delhi and Hyderabad in next 2 months. Hemant Bakshi, CEO of Ola mobility, said, “This service of Ola is in line with our vision to serve 1 billion Indians through electric vehicles.”

Banks will Remain Closed for 15 Days in April Month, Check Details


Bank Holiday 2023: RBI has released list of bank holiday for month of April 2023. If you are planning to visit bank for any work then you need to plan in advance as bank will remain closed for the 15 days in April 2023.

Bank Holiday April 2023

List of Bank Holidays 2023

Date DayStatusReason
1st April, 2023SaturdayClosedAnnual Maintenance
2nd April, 2023SundayClosedSunday
4th April, 2023TuesdayClosedMahavir Jayanti
5th April, 2023WednesdayClosedBabu Jagjivan Ram Birthday(Telengana)
8th April, 2023SaturdayClosedSecond Saturday
9th April, 2023SundayClosedSunday
14th April, 2023FridayClosedBabasaheb Ambedkar Jayanti/Bohag Bihu
15th April, 2023SaturdayClosedVishu/Bohag Bihu/Himachal Day/ Bengali New Year
16th April, 2023SundayClosedSunday
18th April, 2023TuesdayClosedShab-e-Qadr
21st April, 2023FridayClosedEid-ul-Fitr(Ramadan Eid)/Gadiya Puja/Jumat-ul-Vida
22nd April, 2023SaturdayClosed4th Saturday of Month
23rd April, 2023SundayClosedSunday
30th April, 2023SundayClosedSunday

Bank Holidays in March 2023

DateDayStatusReason
25th March, 2023SaturdayClosed4th Saturday
26th March, 2023SundayClosedSunday
30th March, 2023ThursdayClosedRam Navami

RBI Official Link

For more information about bank holidays, you can also visit official website of Reserve Bank of India at https://rbi.org.in/Scripts/HolidayMatrixDisplay.aspx. You will find details for the all holiday here.

Also read Big Relief to Employees, Government took Big Decision on NPS

Linking of PAN-AADHAR: You are going to Loose Your PAN Registration if You don’t do This


Linking of PAN-AADHAR

Linking of PAN-AADHAR: The deadline to link your Permanent Account Number (PAN) and Aadhaar is March 31, 2023. Do note that now there is a penalty applicable for linking PAN with Aadhaar. If you link your PAN with your Aadhaar now, then you are liable to pay a late fee of Rs 1,000 as the last date for linking without penalty was June 30, 2022 which is already past.

Why You Should Link Your PAN and Aadhaar Card Before March 31, 2023

Linking of PAN-AADHAR: PAN (Permanent Account Number) and Aadhaar (Unique Identification Number) are two important documents that every Indian citizen should have. They serve as identity proofs and also help in various financial transactions such as filing income tax returns, opening bank accounts, applying for loans, etc.

However, having these documents is not enough. You also need to link your PAN and Aadhaar card before March 31, 2023. This is a mandatory requirement as per Section 139AA of the Income Tax Act 1961. If you fail to do so, you may face some serious consequences such as:

  • Your PAN will become invalid and you will not be able to use it for any purpose.
  • You will not be able to file your income tax returns or claim refunds.
  • You may have to pay a penalty of up to Rs 10,000 for violating the law.
  • You may face difficulties in availing various government schemes and subsidies that require Aadhaar authentication.

Therefore, it is advisable to link your PAN and Aadhaar card as soon as possible. Here are some easy ways to do it:

How to Link your PAN and Aadhaar Card Online

Linking of PAN-AADHAR: One of the simplest ways to link your PAN and Aadhaar card online is through the official website of Income Tax Department www.incometax.gov.in. You can also use other websites or apps that offer online PAN-Aadhaar linking services such as HDFC Bank or UTIITSL.or

https://eportal.incometax.gov.in/iec/foservices/#/bl-link-aadhar

To link your PAN and Aadhaar card online, you need to follow these steps:

  • Visit the website or app that offers online PAN-Aadhaar linking service.
  • Enter your PAN and Aadhaar number along with other details such as name, date of birth, gender etc.
  • Verify your details by entering an OTP (One Time Password) sent to your registered mobile number or email id.
  • Submit the request and get a confirmation message on successful linking.

How to Link your PAN and Aadhaar Card Through SMS

Another convenient way to link your PAN and Aadhaar card is through SMS. You can send an SMS from your registered mobile number to either 567678 or 56161 with the following format:

UIDPAN<space><12 digit Aadhaar number><space><10 digit PAN>

For example: UIDPAN 123456789012 ABCDE1234F

You will receive an SMS confirmation on successful linking.

How to Link your PAN and Aadhaar Card Through Web Portal

A third option to link your PAN and Aadhaar card is through a web portal provided by Income Tax Department eportal.incometax.gov.in or incometaxindiaefiling.gov.in. This option requires you to register on the portal with your PAN as the user id if not already done.

To link your PAN and Aadhaar card through web portal, you need to follow these steps:

  • Log into the portal with your user id, password and date of birth.
  • A pop-up window will appear to link PAN with Aadhaar or go to ‘Profile Settings’ on the Menu bar and click on Link Aadhaar.
  • Enter your details such as name, date of birth, gender etc. as per both documents.
  • Tick on ‘I agree’ checkbox after verifying all details carefully
  • Click on ‘Link Now’ button You will get a message stating that “Your request has been submitted successfully”.

Benefits of linking your PAN and Aadhar card

Linking of PAN-AADHAR card has many benefits such as:

  • Simplifying the process of filing income tax returns
  • Reducing errors in verification of identity
  • Preventing frauds and misuse of documents
  • Enhancing transparency in financial transactions

Also read Metro Card Recharge: Now you can Recharge your Metro Card Through Whats App, Check How

What will happen if you don’t link your PAN and Aadhaar by March 31, 2023?

Here is a possible article about the consequences of not linking PAN with Aadhaar:

The government has made it mandatory for all taxpayers to link their Permanent Account Number (PAN) with their Aadhaar number by March 31, 2023. This is to prevent tax evasion and frauds using multiple PAN cards. If you have not linked your PAN and Aadhaar yet, you should do it as soon as possible to avoid any inconvenience and penalty.

According to the Income Tax Department, if you do not link your PAN and Aadhaar before March 31, 2023, your PAN will become inactive. This means that you will not be able to use your PAN for any financial transactions where quoting of PAN is mandatory. Some of these transactions are:

  • Filing income tax returns
  • Opening a bank account
  • Applying for a loan or credit card
  • Buying or selling property or shares
  • Making cash deposits or withdrawals above Rs 50,000
  • Investing in mutual funds or insurance

If you link your PAN to your Aadhaar after March 31, 2023, you will have to pay a late fee of Rs 1,000 as per Section 234H of the Income Tax Act. This fee will be in addition to any other penalty that may be imposed by the Income Tax Department for non-compliance.

Therefore, it is advisable to link your PAN and Aadhaar before the deadline to avoid any hassle and extra cost. You can link your PAN and Aadhaar online through the e-filing portal of the Income Tax Department.

Who are Exempted from PAN-AADHAR Linking

However, some categories of people are exempted from linking their PAN with Aadhaar. These are:

  • Non-residents as per Income Tax Act
  • Individuals above 80 years of age
  • Individuals residing in Assam, Jammu & Kashmir and Meghalaya
  • Individuals who do not have an Aadhaar number or have applied for one but have not received it yet

If you belong to any of these categories, you can furnish a copy of your passport, voter ID card or driving license instead of Aadhaar while filing your income tax returns.

To check whether your PAN and Aadhaar are linked or not, you can visit https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/AadhaarPreloginStatus.html and enter your PAN and Aadhaar number. You will get a confirmation message if they are linked successfully.

Linking your PAN and Aadhaar is a simple process that can save you from a lot of trouble later on.

So don’t delay it any further and do it today!

Metro Card Recharge: Now you can Recharge your Metro Card Through Whats App, Check How

Metro Card Recharge: Metro Being the Life Line of cities, lakhs of people travels by metro train. To make travel easier Metro Rail Corporation keep updating their services.

Metro Card Recharge

Due to the crowd, you have to stand in a long line. But, now you will be able to book, recharge or cancel metro tickets through WhatsApp only . However, this facility has been started only in four cities of the country.

How to Recharge Your Metro Card Online and Through WhatsApp

Metro cards are smart cards that can be used to pay for metro train fares in various cities across India. They offer convenience, security and savings to the commuters. However, recharging metro cards can sometimes be a hassle, especially when there are long queues at the ticket counters or recharge machines.

Thankfully, there are some easy ways to recharge your metro card online and through WhatsApp. Here are some steps you can follow to avoid the hassle of recharging your metro card offline.

Recharge your metro card online

One of the simplest ways to recharge your metro card online is through the official website of Delhi Metro Rail Corporation (DMRC) www.dmrcsmartcard.com. You can also use other websites or apps like Paytm that offer online metro card recharge services.

To recharge your metro card online, you need to follow these steps:

  • Visit the website or app that offers online metro card recharge service.
  • Enter your metro card information such as card number and balance.
  • Select the amount of rupees you want to recharge your card with. You can choose from various options ranging from Rs 100 to Rs 3000.
  • Make the payment using your debit/credit card, net banking or wallet.
  • After successful online recharge, you will receive a confirmation message on your registered mobile number or email id.

Recharge your metro card through WhatsApp

Another innovative way to recharge your metro card is through WhatsApp. DMRC has recently launched a new service that allows commuters to recharge their metro cards through WhatsApp. This service is available for both Android and iOS users.

To recharge your metro card through WhatsApp, you need to follow these steps:

  • Save the DMRC’s official WhatsApp number +91 9911556677 on your phone contacts.
  • Open WhatsApp and send a message “Hi” to this number.
  • You will receive a welcome message with a link to register for this service.
  • Click on the link and fill in your details such as name, email id and mobile number.
  • You will receive an OTP on your registered mobile number. Enter it on the registration page and submit it.
  • You will receive a confirmation message with a link to recharge your metro card.
  • Click on the link and enter your metro card information such as card number and balance.
  • Select the amount of rupees you want to recharge your card with. You can choose from various options ranging from Rs 100 to Rs 3000.
  • Make the payment using any UPI app such as Google Pay, PhonePe or Paytm UPI.
  • After successful payment, you will receive a confirmation message on WhatsApp.

Benefits of recharging your metro card online and through WhatsApp

Recharging your metro card online and through WhatsApp has many benefits such as:

  • Saving time and avoiding queues at ticket counters or recharge machines
  • Getting cashback offers and discounts on online payments
  • Recharging anytime and anywhere with just a few clicks
  • Tracking your transaction history and balance easily

Whats App Recharge Facilities in 4 Cities

At present, this facility is started in 4 cities which includes Mumbai, Bangalore, Hyderabad and Pune Metro. Users of these four cities can recharges their card by using Whats App chatbot.

Also Read Loan Restructuring Vs. Loan Refinancing: A Guide for Borrowers

Good News for SBI-HDFC-ICICI Bank Customers- RBI have made these change in UPI Transaction Limit


UPI Transaction Limit: Unified Payments Interface (UPI) has become one of the most popular modes of digital payments in India, offering a quick, convenient, and secure way to transfer money between bank accounts. However, different banks have set different transaction limits on UPI transfers, which can vary based on factors such as the type of bank account, the user’s transaction history, and the purpose of the transfer. In this article, we will discuss the transaction limits set by some of the major banks in India on UPI transfers.

Transaction Limit of Banks on UPI

UPI transactions also have certain limits that vary across banks. Depending on the bank, it could be anywhere from INR 10,000 to INR 1 lakh per transaction. For instance, the maximum amount you could transfer in a single transaction using the BHIM UPI app is INR 1 lakh, and you could only transfer to a maximum of INR 1 lakh in a day. Some banks also have limits on the number of transactions per day or per month.

  1. State Bank of India (SBI): SBI, the largest bank in India, has set a daily transaction limit of Rs. 1 lakh per day on UPI transfers, with a maximum of 10 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.
  2. HDFC Bank: HDFC Bank has set a daily transaction limit of Rs. 1 lakh per day on UPI transfers, with a maximum of 10 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.
  3. ICICI Bank: ICICI Bank has set a daily transaction limit of Rs. 1 lakh per day on UPI transfers, with a maximum of 10 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.
  4. Axis Bank: Axis Bank has set a daily transaction limit of Rs. 1 lakh per day on UPI transfers, with a maximum of 20 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.
  5. Punjab National Bank (PNB): PNB has set a daily transaction limit of Rs. 50,000 per day on UPI transfers, with a maximum of 10 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.
  6. Kotak Mahindra Bank: Kotak Mahindra Bank has set a daily transaction limit of Rs. 1 lakh per day on UPI transfers, with a maximum of 10 transactions per day. However, the bank may allow higher transaction limits based on the user’s transaction history and other factors.

Benefit of UPI Transaction Limit by Banks

The benefit of UPI transaction limit by banks is that it helps to prevent fraud and misuse of the system. By imposing a limit on the amount and frequency of transactions, banks can reduce the risk of unauthorized transactions or cyberattacks. It also helps to maintain the stability and efficiency of the UPI network by avoiding congestion or overload.

However, some users may find the UPI transaction limit by banks inconvenient or restrictive. For example, if they want to make a large purchase or pay a high bill using UPI, they may have to split their payment into multiple transactions or use another mode of payment. They may also face issues if they exceed their daily or monthly limit due to multiple transactions with different merchants or service providers.

Therefore, UPI transaction limit by banks has both advantages and disadvantages for users. It is important for users to be aware of their bank’s UPI transaction limit and plan their payments accordingly. They can also check with their bank if they can increase their limit based on their usage pattern and credit history.

These transaction limits are subject to change at the discretion of the banks, and may also depend on the type of bank account, the user’s transaction history, and the purpose of the transfer. It is advisable to check with the respective bank’s customer service or website for the latest transaction limits before making a UPI transfer.

Also read: EPF- Employee Provident Fund Explained

Key Changes Made by RBI for UPI Transaction

There are a few new rules of RBI on UPI transaction that have come into effect recently or will come into effect soon. Here are some of them:

  • The threshold for the contactless card transactions through cards and UPI will be increased from Rs 2,000 to Rs 5,000 from January 1, 2021. This is done to encourage digital payment which is truly safe and secure.
  • The transaction limit for payments through UPI for retail buying of government securities and IPO applications will be enhanced from Rs 2 lakh to Rs 5 lakh. This is proposed to facilitate greater retail participation in these instruments.
  • The customers will have to provide additional factor authentication (AFA) for recurring online transactions using cards, wallets or UPI above Rs 5,000 from October 1, 2021. This is done to improve customer convenience and safety while making recurring payments.
  • The Reserve Bank has launched UPI123Pay – Option to make Unified Payments Interface (UPI) payments for feature phone users on March 8, 2022. This is done to promote financial inclusion and digital literacy among the masses.

In conclusion, UPI has revolutionized the way digital payments are made in India, but the transaction limits set by different banks can sometimes pose a challenge for users. It is important to be aware of these limits and plan transactions accordingly to avoid any inconvenience or delays. With UPI usage continuing to grow, it is likely that these transaction limits will also evolve to keep up with the changing needs of customers.

General Budget 2023: Income Tax Exemption Limit Increased from Rs 5 lakh to Rs 7 lakh, Finance Minister gave Statement


India’s Finance Minister Nirmala Sitharaman (3R) looks on as she leaves the Finance Ministry for the Parliament to announce the 2020-21 union budget, in New Delhi on February 1, 2020. (Photo by Prakash SINGH / AFP)
  1. General Budget 2023: Now under the new tax regime, no tax till annual income up to Rs 7 lakh – FM Sitharaman

Finance Minister Nirmala Sitharaman has made a big announcement regarding tax slabs. Now under the new tax system, no tax will have to be paid till the annual income of up to Rs 7 lakh. Till now this limit was 5 lakh rupees.

FM Sitharaman proposes to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh in new tax regime

Govt to enhance grievance redressal mechanism for direct tax payers

An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000

No tax for income up to Rs 3 lakh; 5 percent tax on Rs 3-6 lakh; highest tax rate of 30 percent on income above Rs 15 lakh under new tax regime.

An individual with income of Rs 15 lakh will have to pay Rs 1.5 lakh tax, down from Rs 1.87 lakh under new tax structure

Govt to provide higher limit of Rs 2 lakh per member for cash deposit and loans by Primary Agricultural Credit Societies

Govt proposes to reduce highest surcharge rate from 37 percent to 25 percent in new tax regime.

Finance Minister Nirmala Sitharaman has made a big announcement regarding tax slabs. Now under the new tax system, no tax will have to be paid till the annual income of up to Rs 7 lakh. Till now this limit was 5 lakh rupees.

2. PM Awas Yojana:

Big announcement in the budget on PM Awas Yojana, Finance Minister made this announcement

3. Farm sector receives major boost as FM renews thrust on rural India

Finance Minister Nirmala Sitharaman proposed increase in the agriculture credit target in the Budget 2023 to Rs 20 lakh crore, with an emphasis on industries such as animal husbandry, dairy and fishery. She also proposed a sub-scheme of PM Matsya Sampada Yojana with a targeted investment of Rs 6,000 crore. 

4. No News on Bank Privatisation 

More than an hour into the Budget 2023 speech, FM Nirmala Sitharaman has not touched up on any key banking sector reforms including the long held promise of privatization of public sector banks. To be sure, this is no surprise. Ahead of the 2024 general elections and considering the politically sensitive nature of the move, the Government was expected to keep mum on the bank privatization issue. However, one must remember that privatization of at least two PSBs was a key announcement in Sitharaman’s last budget. A year later, this is nowhere discussed. Is bank privatization totally off the agenda or is the FM keeping the big announcement to the last?

5. Boost for Infrastructure

FM Sitharaman has proposed to hike the capital expenditure by 33 percent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 33 percent of the GDP.100 critical transport infrastructure projects, for the last and first-mile connectivity for ports, coal, steel, fertilizer and food grains sectors have been taken up on priority with an investment of Rs 75,000 crore, including Rs 15,000 crore from private sources.

6. Calamity Cess on Cigarettes 

Cigarettes get hit by a steep 16 percent increase in the calamity cess imposed on them. This will lead to an increase in cigarette prices and could hurt volume growth in the near term. ITC will get affected but so will other tobacco stocks

7. DigiLocker Expansion for fintech Companies

Finance Minister Nirmala Sitharaman has announced the expansion of the Government digital certificate depository Digilocker services for the fintech sector. This is a boost for fintech startups as so far the DPI only allows individuals to store and share their certificates, such as academic records, driving licence, PAN cards. Documentation availability will be the focus for the DigitLocker expansion for the fintech sector, The fintech sector has been facilitated by digital services, PM Jan Dhan Yojana, Indian Stack and UPI,” Sitharaman said

8. Fintech Sector update

Digital payments rose 76% in transaction and 91% in value terms in 2022

Rs 7,400 crore digital payments of Rs 126 lakh crore through UPI in 2022.

Fiscal support for digital public infrastructure (DPI) will continue in 2023-2024

The scope of documents available in DigiLocker for individuals will be expanded

An entity DigiLocker will be set up for use by MSMEs and large businesses

PM VIKAS scheme will now include access to digital payments and social security

Subsidy for UPI expected to jump two-folds to Rs 2,137 crore in FY23 over previous fiscal

Allocation for digital payments promotion remains stagnant at Rs 1500 crore for last three years

9. Cost of Products

Which imports are now cheaper: Aero planes and other aircrafts; Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form; Base metals or silver, clad with gold, not further worked than semimanufactured; New or retreaded pneumatic tyres, of rubber, of a kind used on aircraft of heading; Platinum, unwrought or in semimanufactured form, or in powder form; Waste and scrap of precious metal or of metal clad with precious metal; several aquaculture inputs; Some TV, camera parts 

Which imports are more costly: Vehicle (including electric vehicles); Silver Dore; Naphtha; styrene, Vinyl Chloride Monomer, Compounded Rubber, Articles of precious metals, Imitation Jewellery, Electric Kitchen Chimney, Bicycles, Toys and parts of toys (other than parts of electronic toys)

10. Proposals for energy sector

FM Sitharaman has proposed an outlay of Rs 35,000 crore to achieve energy transition and net zero objectives and listed green growth among seven priorities of the government.

With an outlay of Rs 19,700 crore, National Green Hydrogen Mission will facilitate transition of economy to low carbon intensity, reduce dependence on fossil fuel imports and make the country adopt technology and market leadership in this sector.

Government will provide viability gap funding for 4,000 MWh battery energy storage systems.

Detailed framework for pumped storage projects will be formulated.

Inter state transmission system for evacuation and grid integration of 13 GW renewable energy from Ladakh will be constructed with an investment of Rs 20,700 crore, including the central government support of Rs 8,300 crore.

A green credit programme will be notified under the Environmental Protection Act.

Is the Rs 7-lakh tax-free income limit only for the new tax regime?

Finance minister has proposed that individuals with an income of up to Rs 7 lakh will not have to pay any tax under the new tax regime. They will be eligible for a rebate under section 87A that is currently available to individuals with income of up to Rs 5 lakh, she said during her Budget 2023 speech.

Finance Minister Nirmala Sitharaman on February 1 announced that individuals with an income of up to Rs 7 lakh will not have to pay any tax under the new tax regime.

They will be eligible for a rebate under section 87A that is currently available to individuals with income of up to Rs 5 lakh, she said during her Budget 2023 speech.

No rebate for taxpayers opting for the older tax regime

If you, like most other tax-payers, have been opting for the older, with-exemptions tax regime that offers tax breaks under section 80C among other things, you will not be eligible for this rebate on the enhanced income limit. You will get a rebate under the old regime only if your income is less than Rs  5 lakh.

5 Benefits of Digital Rupee- Pilot Project Launched by RBI


|| Digital Rupee || Central Bank Digital Currency || Wholesale Segment || RBI || E-Rupee ||

The RBI has decided to first conduct a pilot rollout of the retail digital rupee. The central bank has identified eight banks for the project that will happen in two phases. The first will begin with four banks, State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank.

The retail Digital currency is proposed to distributed through two-tier model

Digital Rupee-The Reserve Bank of India (RBI) has commenced its first pilot project to implement Central Bank Digital Currency (CBDC) in the Wholesale Segment(e₹-W) for secondary trade in government securities (G-secs) beginning on November 1, 2022.

Nine banks have been approved by the RBI for the e₹-W pilot launch – State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, IDFC First Bank, and HSBC Bank.

In introducing the digital rupee/CBDC, the RBI aims to “bolster India’s digital economy, enhance financial inclusion, and make the monetary and payment systems more efficient.” The central bank has clarified that the “CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems.”

Below is a brief summary of how regulators’ understanding of the digital rupee and its use case scenarios has developed in India.

What is the digital rupee?

A Central Bank Digital Currency(CBDC) or Digital Rupee is a digital version of Currency notes issued by central bank. So we can say that CBDC or digital rupee(e₹) is a new variant of central bank money different from physical cash or central bank reserve/settlement accounts.

The RBI defines the digital rupee as the legal tender issued by the central bank in a digital form and postulates following features for a unit to be called an Indian digital rupee:

  • Digital rupee is a sovereign currency issued by the RBI in alignment with their monetary policy
  • It appears as a liability on RBI’s balance sheet
  • It must be accepted as a medium of payment, legal tender, and a safe store of value by all citizens, enterprises, and government agencies.
  • Digital rupee must be freely convertible against commercial bank money and cash
  • It must be a fungible legal tender for which holders need not have a bank account

What are the different types of digital rupee?

Based on the usage and the functions performed by the digital rupee and considering the different levels of accessibility, digital rupee can be classified into two broad categories:

  • General purpose or retail (CBDC-R): They are an electronic version of cash primarily meant for retail consumption. They can be available for use by all private sector entities, non-financial consumers, and businesses.
  • Wholesale (CBDC–W): They are designed for restricted access by financial institutions. They could be used for improving the efficiency of interbank payments or securities settlement.

What is the Significance of Digital Rupee (e₹)?

  • With CBDC, India is targeting to make remarkable progress in the world’s rapidly advancing adoption of digital currencies.
  • RBI-backed digital rupee systems will further propel India’s digital economy, and make the monetary and payment systems more efficient.
  • Reduction in cost associated with physical cash management.
  • To further the cause of digitization to achieve a less cash economy.
  • Supporting competition, efficiency and innovation in payments.
  • Expand the usage of digital rupee for improvement in cross-border transactions.
  • Safeguard user trust in the national currency by proliferation of crypto assets.

What is Difference between Digital Rupee and Other form of Digital Money?

While money in digital for is being used in India as a book entries in bank account on commercial bank ledger and it is liability of commercial bank.

The digital rupee differ from other form of digital money available to public that it would be liability of RBI and not of commercial bank.

What is Difference between Digital Rupee & Cryptocurrency?

  • Cryptocurrency- It is a decentralized digital asset and a medium of exchange based on blockchain technology. Being decentralized means there is intermediary such as banks, financial institutions or central authority to back up.
  • Digital Rupee(e₹)- CBDC or Digital Rupee(e₹) is issued by the RBI and will function as government-backed money in digital form.

Frequently Asked Questions (FAQ)

QWhat is use of Digital Rupee?

Ans- It is interchangeable currency and value at par with Fiat currency.

Q- How is Digital rupee different from UPI?

Ans- UPI is a bank-to-bank transfer, so banks knows who you are paying and how much, whereas the Digital rupee is similar to cash and therefore it is directly transferred from one wallet to another without leaving any audit trail.

Q- How is digital rupee different from cryptocurrency?

Ans- Cryptocurrency is a decentralized form of money with no intermediaries in the transaction process.. While digital rupee is centralised form of money issued, guaranteed and regulated by RBI.

ALso Read Future of Digital Marketing Marketing Globally: Top 5 Emerging Trends in 2022

GA4 vs. Universal Analytics: 6 Things to Know for Difference


Are you wondering what’s the difference between Google Analytics 4 Vs. Universal Analytics?

GA4 vs. Universal Analytics

GA4 is the latest version of Google Analytics and will soon replace Universal Analytics. In the new version, you get new reports, metrics, tracking systems, and more.

In this article, we’ll compare GA4 vs Universal Analytics and show you what the real difference is between the two platforms.

GA4 vs. Universal Analytics: The main differences

Google Analytics 4 is the new generation of Google’s famous analytics platform. It is designed to track your WordPress website and apps in the same property. Previously you’d have to track your apps and websites separately in Universal Analytics.

With Google Analytics 4, you get a better picture of your customer’s journey across multiple channels and devices. GA4 also offers better data privacy for users.

On the other hand, Universal Analytics (UA) is the previous version of Google Analytics. It was introduced in 2012 and is probably the version many websites use today for tracking their website traffic.

However, Universal Analytics will stop collecting data on July 1, 2023. This means that it will no longer track your visitors after the mentioned date, and Google will not support or introduce new features for it.

That’s the reason it is important that you switch to Google Analytics 4 as soon as possible. This way, you’ll protect your data and have historical records to compare to when Universal Analytics shuts down.

Let’s look at some significant differences between GA4 and Universal Analytics. You can click any of the links below to be taken to the section for that specific feature.

GA4
  • A Changed Reporting Interface
  • New Data Measurement Model in GA4
  • No Bounce Rate and New Reporting Metrics
  • Google Analytics 4 Doesn’t Track Form Conversions
  • Universal Analytics Goals Are Replaced with Events
  • Perform Advanced Analysis in Google Analytics 4

A Changed Reporting Interface

The first difference you’ll notice between Google Analytics 4 vs Universal Analytics is the new reporting interface.

In GA4, most of the reports have been replaced or renamed. One of the reasons for this is that the latest analytics version uses a different measurement model compared to Universal Analytics.

For example, you’ll see new reports such as Engagement, Monetization, and Retention in GA4.

On the other hand, Universal Analytics has a completely different reporting interface.

For example, all the reports are grouped together under 5 main categories.

  • Realtime
  • Audience
  • Acquisition
  • Behavior
  • Conversions.

You can find each of these in the left-hand menu on your main GA4 dashboard.

New Data Measurement Model in GA4

Another major difference between GA4 vs Universal Analytics is how they work when collecting and processing your website data. Universal Analytics uses a measurement model based on sessions and pageviews. Whereas, GA4 uses an event-based model to track your data.

Sessions can link data to a single individual and track them specifically as they interact with your site. Event data is anonymous, and the importance is placed on specific actions taken instead of specific users taking those actions.

This allows you to track complex buyer journeys across multiple devices accurately.

It also makes it easier to enable enhanced measurement features in Google Analytics 4. For example, you can set up outbound link click and scroll depth tracking with a click of a switch in GA4.

With Universal Analytics, on the other hand, you’d have to perform a complex setup or tweak the tracking code to configure that kind of link click-tracking or scroll-tracking.

No Bounce Rate and New Reporting Metrics

With Google Analytics 4, you get new metrics along with new reports. Right off the bat, you’ll notice that there is no bounce rate metric in Google Analytics 4.

Bounce rate tells you the number of users that left your website without interacting, like clicking a link, signing up for a newsletter, or purchasing a product.

Instead, GA4 shows a new metric called ‘Engaged sessions per user.’ It shows how many people interacted with your content. This includes a session where a user stays on a page for 10 seconds or more, triggers 1 or more events, or a user views 2 or more pages.

Besides that, GA4 also offers more new metrics in the Engagement report. For instance, there is an average engagement time metric, which used to be the average session duration in Universal Analytics.

Another new metric you’ll find in Google Analytics 4 is the Pages and screens. It shows the pages and app screens that get the most traffic on your website.

You can find this data in UA under the top landing pages report. If you’re using MonsterInsights, then the plugin will show your most important pages inside the WordPress dashboard.

Google Analytics 4 Doesn’t Track Form Conversions

The next difference you’ll notice when comparing GA4 vs Universal Analytics is that of form conversions.

Forms are really useful for any business. They allow users to get in touch with you, provide feedback, and resolve their queries. Tracking your WordPress form in Google Analytics helps you see which form performs better.

However, setting up form conversion tracking in Google Analytics 4 requires adding custom code. This can be very tricky if you’re not a developer. The slightest mistake can mess up your tracking and break your website.

Universal Analytics Goals Are Replaced with Events

In Universal Analytics, you can record different user interactions using goals. You get 4 types of goals in UA, which include:

  • Destination – You can set a destination goal to track when a user arrives on a specific page, like a thank you page or a product landing page.
  • Duration – This goal helps you see how long people stay on your website before exiting.
  • Pages per Visit – Using the pages per visit goals allows you to uncover the number of pages a visitor views before leaving your site.
  • Event – With the help of events, you can track user interactions on your site that Universal Analytics doesn’t track by default.

However, Google Analytics 4 replaces these goals with events. For example, if you have an online store, then you can enable events to track interactions and how many people enter payment details and shipment information.

Perform Advanced Analysis in Google Analytics 4

Another difference between both analytics platforms is the level of advanced analysis you can perform in Google Analytics 4.

In Universal Analytics, you can create custom reports and use secondary dimensions to uncover insights. However, GA4 takes it a step further with its Exploration reports.

Exploration Tab in GA4

You get prebuilt templates for different analyses you’d like to perform or if you’d like to set up a custom report.

For example, you can use the ‘Funnel’ exploration template to see your customers’ journey before purchasing.

Besides that, GA4 exploration reports also offer multiple options to add different segments, dimensions, and metrics to your custom reports.

On a side note, using Exploration reports can be tricky for beginners. These reports are mainly for power users or people with advanced Google Analytics knowledge.

An easier way of uncovering insights is by using MonsterInsights. It shows a stats dashboard inside your WordPress dashboard. You can quickly see how your site performs, which pages people view the most, and much more without creating a complex custom report in Google Analytics.

We hope that this article helped you learn about the difference between GA4 vs Universal Analytics. You can also see our guide on the best WordPress plugins and the ultimate guide to WordPress SEO.
Also read 11 Best Knowledge Base Plugins for WordPress