Page-6 of Banking in India

Union Government allows Atal Pension Yojana for Small Finance Banks and Payments Banks

The Union Government has allowed Small Finance Banks and Payments Banks to offer Atal Pension Yojana (APY). Recently, 10 Small Finance Banks and 11 Payment Banks have got license from Reserve Bank of India to start banking operations in the ..

Usha Ananthasubramanian becomes first woman chairman of Indian Banks’ Association

Usha Ananthasubramanian, MD and CEO of Allahabad Bank, has been elected the first woman chairman of Indian Banks’ Association (IBA) for the year 2017-18. She succeeded Jatinder Bir Singh. Rajnish Kumar, Chairman of State Bank of India, was elected Deputy ..

Dilip Asbe appointed as new Managing Director and CEO of NPCI

Dilip Asbe has been appointed as the new Managing Director and CEO of National Payments Corporation of India (NPCI). Prior to this, Asbe was CEO-in-charge of NPCI. He succeeded A.P.Hota, who retired in August 2017. Asbe has been in the ..

The Union government to bear MDR charges to promote digital transactions

To promote digital transactions, the union cabinet has recently decided to bear the Merchant Discount Rate (MDR) applicable on digital payments via debit cards, etc., up to Rs 2,000. The MDR applicable on transactions made through debit cards, the Unified ..

The Union government engages ICICI to enable cashless payments on e-NAM

The Union government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with national portal of electronic National Agriculture Market (e-NAM). At present, e-NAM participants are doing payments through traditional ways via bank branches, debit ..

Axis Bank launches ripple-powered instant payment service for retail and corporate customers

Private sector lender Axis Bank has recently launched instant international payment services using Ripple’s enterprise blockchain technology solution for retail and corporate customers. The bank has launched a service for its retail customers in India to receive payments from RAKBANK ..