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Tag: visa

  • RBI’s New Rules For Credit Cards: Mastercard, RuPay, Or Visa – Which Network Is Right for You? | Personal Finance News

    RBI New Rules For Credit Card: Good News For Credit Card Holders! Now, users will have the freedom and flexibility to choose their card network from the available ones – Visa, MasterCard, and RuPay while applying for a new credit card or renewing the existing one. 

    This initiative follows the Reserve Bank of India’s introduction of guidelines aimed at improving customer experience and fostering competition in the digital payments sector.

    Rule For New Credit Card Applicants And Existing Cardholders:

    New credit card applicants can now choose their preferred network—Mastercard, RuPay, or Visa. Existing cardholders also have the option to switch networks during the renewal process, providing flexibility to select a different network if preferred. 

    Notably, there are several banks including YES Bank and Bank of Baroda (BOBCARD), have already adopted these changes. Customers applying for credit cards with these banks can select their network preference online or offline. 

    Exemptions For CreditCard Issuers 

    Card issuers with fewer than 10 lakh active cards are not required to comply with these guidelines. Meanwhile, the Issuers that operate their own authorised networks are also exempt. 

    Authorised Card Networks 

    In India, there are five authorised card networks that operate within the payment ecosystem. These include American Express Banking Corp., Diners Club International Ltd., MasterCard Asia/Pacific Pte. Ltd., National Payments Corporation of India-Rupay, and Visa Worldwide Pte. Ltd.

    These networks play a significant role in enabling electronic transactions and promoting digital payments across the country. However, the RBI has made an exception for American Express, as it operates its independent network. Consequently, American Express is not obligated to adhere to the RBI’s guidelines. 

    Visa and Mastercard Credit Card Benefits

    These cards are accepted in over 200 countries worldwide. Both offer premium benefits like access to airport lounges, travel insurance, and discounts at international merchants. 

    However, they often come with higher fees, particularly for transactions in foreign currencies. 

    RuPay Credit Card Benefits 

    RuPay cards are ideal for domestic because of their lower transaction fees, which make them budget-friendly. Thanks to UPI integration, digital payments in India have become seamless.

  • Fraudulent Visa Agents Exploit UK Health Workers In Elaborate Scams | world news

    Deceptive Indian visa agents have recently targeted several individuals seeking employment in the UK, charging between £20,000 and £30,000 for false promises of work visas and jobs. Undercover operations by different agencies have revealed a series of fraudulent schemes aimed at UK healthcare companies.

    According to a DNA India news report, innocent UK healthcare providers, who are genuine sponsors in the visa process, find themselves ensnared in these scams. These healthcare firms are victimized by a well-orchestrated fraud, where highly qualified recruits arranged by corrupt agents arrive in the UK under false pretenses. These recruits, often led by a designated ringleader, refuse to fulfill their job roles upon arrival. Subsequently, they sue the companies for not providing work or for unfair dismissal, all while seeking illegal cash-in-hand jobs.

    One notorious case involves Sejal Christian from Surat, Gujarat. Christian orchestrated a scheme where ringleaders like Kirankumar Benjamin Rathod and Bhuvaneshwari Chauhan were sent to Clinica Private Healthcare through a UK agent, Nazia Vohra. Clinica, known for its patient-centric care, became a victim of this elaborate sting operation, unaware of Christian’s involvement until significant damage had been done. Following the incident, Clinica discovered that several other tier 2 sponsor healthcare providers had suffered similar fates.

    Despite multiple arrests, Sejal Christian continues her fraudulent activities, leveraging individuals like Rathod for her operations and profiting significantly. The UK employment tribunal courts, often uninformed about such sophisticated schemes and immigration laws, have rendered judgments that favor the fraudulent recruits, leaving the victimized companies at a disadvantage. Corrupt immigration solicitors exploit this situation, further harming these healthcare firms’ credibility and financial stability.

    Such exploitation not only jeopardizes the legacy and reputation of dedicated healthcare providers like Clinica but also encourages similar fraudulent activities globally. Raising awareness about these scams is crucial to protecting the integrity of innocent healthcare companies and preventing further defamation and societal disruption.

  • 12 jobs that larger in call for because of the pandemic in Canada

    A number of occupations in Canada in truth noticed an building up in call for because of the outbreak. Many industries had been adversely suffering from coronavirus-related shutdowns, however there are in truth extra process vacancies in a few of the ones industries.

    In step with federal analysis, every province and territory’s exertions power has been tested to look how the pandemic has affected it. Those are a couple of of Canada’s effects. The Nationwide Occupational Classification (NOC) code is used to checklist the occupations within the order they’re indexed. The government additionally supplies a development research instrument the place process seekers can take a look at the traits in their very own occupations of passion for more info on explicit profession possibilities.

    Pc and knowledge techniques managers

    Those IT professionals control and analyze the paintings of businesses that arrange virtual device and different knowledge techniques. As a result of this profession was once now not suffering from the pandemic when it was once first proclaimed in March 2020, it’s nonetheless to be had throughout Canada. On the other hand, employment ranges rose in 2020 in comparison to 2019 in spite of the epidemic.

    Employment insurance coverage, immigration, border products and services, and income officials

    Many of us became to executive help methods within the wake of the outbreak, together with Employment Insurance coverage and the lately established Canadian Emergency Reaction Receive advantages (CERB).

    Data techniques analysts and specialists

    A data techniques analyst or marketing consultant conducts checking out and offers recommendation on knowledge techniques demanding situations. In April 2020, there was once a 47% building up in employment on this box in comparison to the former yr. All through the yr, there was once an upward development within the moderate stage of employment.

    Database analysts and knowledge directors

    For probably the most phase, database analysts and knowledge directors are hired through IT consulting companies to expand and enforce information control answers. In Canada, the pandemic had little impact at the employment of database analysts and directors. On the other hand, all the way through 2020, employment ranges rose on a annually foundation. The upward push in call for for this place is because of an building up in the usage of generation and knowledge within the administrative center.

    Tool engineers and architects

    A variety of device is utilized by device engineers, designers, and builders. In IT consulting and R&D companies, they’re often engaged in a number of roles.

    Development inspectors

    Structures are inspected through development inspectors to ensure they’re in compliance with native development codes. Regardless of the severity of the coronavirus-related restrictions, the development business was once allowed to proceed working all through the pandemic. Because of this, residential building remained sturdy in 2020, in spite of a lower in general development job.

    Nursing coordinators and supervisors

    Registered nurses at healthcare amenities are overseen through nursing supervisors. On account of their a very powerful position in assuring affected person care, nursing coordinators have noticed an building up in call for because the outbreak of the pandemic. As well as, drive on sanatorium staff larger because the collection of sufferers and hospitalizations expanded.

    Pharmacists

    Along with dishing out drugs to sufferers, pharmacists regularly be offering recommendation and session to different healthcare pros. Approved pharmacists would possibly paintings for pharmacies or be self-employed. Commercial pharmacists are hired through pharmaceutical firms and executive businesses and are eager about analysis and building.

    Circle of relatives, marriage, and different linked counselors

    Psychological well being has suffered because of the outbreak. Psychological well being stipulations had been exacerbated, and many of us have felt extra by myself and concerned in consequence. Because of public well being issues, some counseling places of work have moved a few of their products and services on-line to raised serve their shoppers.

    Well being coverage researchers, specialists, and program officials

    Researchers in well being coverage are liable for writing and imposing healthcare insurance policies. Professionals on this box are engaged through governmental and non-governmental organizations along with lecturers and personal companies.

    Social and group carrier staff

    As a way to serve their consumers, social and group carrier staff expand and enforce methods. The federal government, psychological well being, and different organizations use them. The recession caused by the pandemic hit probably the most inclined other folks the toughest. People and households are increasingly more searching for strengthen and having access to group sources because of this development.

    Contractors and supervisors, different development trades, installers, repairers, and servicers

    Along with masonry and plastering, those professionals supervise the paintings of a variety of different skilled tradespeople. They may be able to paintings for a number of organizations or run their very own trade.

  • Mastercard, Visa droop operations in Russia after invasion

    Mastercard and Visa are postponing their operations in Russia, the corporations stated Saturday, in the newest blow to the rustic’s monetary device after its invasion of Ukraine.

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    Mastercard stated playing cards issued via Russian banks will now not be supported via its community and any Mastercard issued out of doors the rustic won’t paintings at Russian retail outlets or ATMs.

    “We don’t take this choice frivolously,” Mastercard stated in a observation, including that it made the transfer after discussions with consumers, companions and governments.

    Visa stated it’s operating with purchasers and companions in Russia to stop all Visa transactions over the approaching days.

    Observe Are living Updates at the Ukraine Russia disaster right here

    “We’re pressured to behave following Russia’s unprovoked invasion of Ukraine, and the unacceptable occasions that we have got witnessed,” Visa Chairman and Leader Government Officer Al Kelly stated in a observation.

    The dual suspensions had been introduced inside 16 mins of one another, and so they adopted a personal video name previous within the day between President Volodymyr Zelenskyy of Ukraine and US lawmakers. All the way through that dialog, Zelenskyy “requested us to show off MasterCard and Visa for Russia,” Rep. Brad Sherman, a Democrat from California, tweeted. “I agree,” he added, sooner than Mastercard and Visa made their bulletins.

    Previous within the week, Visa and Mastercard had introduced extra restricted strikes to dam monetary establishments from the networks that function arteries for the bills device. Russian folks have already been hit laborious via heavy sanctions and fiscal consequences imposed via the USA govt and others.

    For the reason that invasion of Ukraine, the worth of the Russian forex, the ruble, has plunged via greater than a 3rd to a report low. That’s pushing up inflation for Russian families, and all of the concern has helped reason lengthy strains at ATMs.

    Many different corporations world wide have additionally made strikes to extend the monetary force on Russia and its folks as a result of its assault on Ukraine. Some are promoting their stakes in Russian corporations, akin to power massive BP, whilst others like Harley-Davidson halted product shipments to the rustic.

    “This battle and the continued risk to peace and steadiness call for we reply consistent with our values,” Visa’s Kelly stated.

    The strikes via Mastercard and Visa may just make actual variations to their backside strains. Russia accounted for 4 in line with cent of all of Visa’s web earnings in its ultimate fiscal yr, together with cash produced from home and cross-border actions. Ukraine accounted for approximately one in line with cent, Visa stated in a submitting with US securities regulators this week.

    Mastercard stated in its personal submitting that about 4 in line with cent of its web revenues all the way through 2021 got here from trade performed inside, into and out of Russia. Any other kind of two in line with cent was once associated with Ukraine.