VISA Financial News

Credit Card portability rules 2023: From October 1, credit card, debit card and prepaid card customers will be able to port their networks. For example, card users would be able to port from Visa to MasterCard to RuPay or to any other network or vice-versa as per their choice.

economic growth and create an enormous burden of care. Yet when officials in Beijing mull solutions, one seems largely absent from the discussion: immigration. China has astonishingly few foreign-born residents.

Japan Airlines has come up with a solution that it hopes will convince passengers to travel light — renting clothes.Japan Airlines Co. and Sumitomo Corp. have joined forces to introduce a new service that will revolutionize travel to Japan. Tourists and business travelers visiting the country will soon have the opportunity to travel light and rent clothing during their stay. One set of clothing will cost ¥4,000 to ¥7,000 ($28-$49), and people will be able to rent up to eight outfits for as long as two weeks, in three sizes: small, medium and large. Chosen styles — smart, smart casual and mixed — will be delivered to a traveler’s designated hotel. The primary objective of this initiative is to promote sustainable tourism while providing utmost convenience to visitors. Prior to boarding a Japan Airlines-operated flight, travelers will have the option to choose clothing based on their size and seasonal requirements through a dedicated website. The service will be available for a trial period until August 2024.

Reserve Bank of India (RBI) is proposing that banks and card network providers like Mastercard, Visa and American Express cannot get into exclusive arrangements that curb competition and put the consumer at a disadvantage.Card issuer banks will henceforth have to issue cards from more than one network provider and will have to provide an option to customers to choose any one among the multiple card networks, RBI said in a draft circular. The central bank said that existing arrangements between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers. It has called for public comments by August 4 and set October 1 as the date to implement the circular.

India finalises it foreign varsity regulations, a US-India task force report has identified foreign exchange restrictions in India and tight US visa rules as key barriers to greater educational and research collaboration between the two countries. «Compliance with India's Foreign Contribution Regulation Act (FCRA) has been...(a) major impediment for US universities attempting to work in India,» said the interim task force report on expanding US-India partnerships prepared by Association of American Universities (AAU).

The Reserve Bank of India (RBI) on Wednesday proposed restraining card issuers, such as banks, from entering into exclusive arrangements with card networks that forbid them from tapping rival networks. The regulator said it has found that arrangements between card networks and issuers are not “conducive to the availability of choice for customers". RBI also said card issuers should issue cards across more than one card network and provide customers with an option to choose any one among the multiple card networks.

RBI) is proposing that banks and card network providers like MasterCard, VISA and American Express cannot get into exclusive arrangements that curbs competition and puts the consumer at a disadvantage.Card issuer banks will henceforth have to issue cards from more than one network provider and will have to provide an option to customers to choose any one among the multiple card networks, RBI said in a draft circular. In the draft circular RBI said that existing arrangements between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers. It has called for public comments by August 4 and set October 1 as the date to implement the circular.

RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. «On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers,» the RBI said in a draft circular seeking comments.

H-1B visas, has been welcomed by an Indian community in the country. "I am honoured and happy to see this announcement by the White House Joint Statement and Prime Minister (Narendra) Modi himself making an announcement.

PwC Australia’s long-time legal counsel Meredith Beattie is retiring as the firm’s incoming chief executive Kevin Burrowes announces major leadership changes.

With thousands of Indian students applying for their student visas (F-1 visa), the United States embassy opened more student visa appointments. They are now open for mid-July to mid-August across India, they announced. Students can visit ustraveldocs.com, to book their appointment, the U.S. Embassy India had tweeted. Here are few things you need to prepare yourself for before making the big move to the States: 1) Documents

Edited excerpts: How did the PM’s visit push the US-India relationship forward? I think what we are seeing is a relationship which has basically moved a few steps further, broader and deeper. You can divide the visit into three broad parts. One is the ceremony like the White House welcome, the Joint Session of Congress and other events taking place.

Business travel for Indonesians to Australia will be made easier in a bid to boost the economic partnership between the two countries following a deal struck between their leaders

New U.S. legislation would ban imported products containing critical green transition minerals mined by child labor in Congo

Yiu is also confident in tech companies such as Nvidia, ASML and Lam Research, which made it to the fund's top ten holdings.

Arvind Kulkarni told TOI. Recently, the couple approached a lawyer and wanted consultion about her residency and legality of marriage. After growing suspicion on the woman, the advocate informed the local cops.

Belarus is set to ban peer-to-peer (P2P) crypto “exchanges” – in a blow to traders operating in the country.

Following the lead of their clients, financial advisors are starting to embrace cryptocurrencies as an investment, according to a new survey.

Singapore might not be as amazing for foreigners after all.

H-1B visas in the country. «I am honoured and happy to see this announcement by the White House Joint Statement and Prime Minister (Narendra) Modi himself making an announcement. The H-1B restamping in the USA will bring relief to over one million people on H-1B,” Ajay Bhutoria, a Silicon Valley technology executive, community leader, speaker and author, said in a statement. In the Joint Statement by Prime Minister Modi and President Biden, issued during the Indian leader's State Visit last month, the leaders welcomed an announcement by the State Department that it would launch a pilot to adjudicate domestic renewals of certain petition-based temporary work visas later this year, including for Indian nationals, with the intent to implement this for an expanded pool of H1B and L visa holders in 2024 and eventually broadening the program to include other eligible categories. The much-sought-after H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. Until 2004, certain categories of non-immigrant visas, particularly the H-1B, could be renewed or stamped inside the US. After that, for the renewal of these visas, in particular, those on H-1B, the foreign tech workers have to go out of the country, mostly to their own country to get the H-1B extension stamped on their passport.

Surrendering passports and acquiring the citizenship of another country are two entirely different actions, said an immigration consultant for New Zealand and Australia.«Goans, Punjabis, Gujaratis and people from Tamil Nadu and Kerala are acquiring citizenship of other countries. For the Goans, England was the final destination. But Brexit applied brakes on their movement,» said Ravi Veravalli, principal consultant, Star Global Education Alliance, in a conversation with IANS.