The government has eased imports of point of sales (PoS) devices to help banks meet the stiff target of install 1 million additional PoS devices by March-end. As per the notification of Central Board of Excise and Customs (CBEC) on Monday, the import of non-labelled registered PoS devices would be allowed, subject to the condition that the importer would put a standard logo on each carton at the port instead of on individual PoS devices. "Customs may release the consignments of PoS devices based on the declaration along with the details of model/serial number of the PoS terminal devices inside the cartons," the notification reads. According to the statistics with the government till the end of the last year, there were about 15 lakh PoS terminals across the country. Till October, RBI said HDFC Bank had issued 8.3 million credit cards versus SBI Cards's 4.1 million credit cards.

Source: dna January 18, 2017 01:44 UTC