Cashless Economy Current Affairs, GK & News

UPI to be launched globally after hitting One Billion transactions in October

The Government of India in its major boost towards cash less digital economy launched the Unified Payments Interface (UPI) channel. The transactions through the channel has reached One Billion in the month of October Highlights The milestone has been achieved after three years of launch of technology backed payments solution. The system was built by ..

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MOPAD: SBI launches unified payment terminal

India’s largest bank State Bank of India (SBI) has launched its Multi Option Payment Acceptance Device (MOPAD) for digital payments convenience of merchants and consumers. It aims at providing digital convenience to customers and ease of doing business for merchants at the same time. SBI will roll-out this new initiative on all SBI PoS terminals in ..

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NITI Aayog signs SoI with Sushant Singh Rajput to promote Women Entrepreneurship Platform

NITI Aayog has signed Statement of Intent (SoI) with noted media personality and entrepreneur Sushant Singh Rajput to collaborate and support its flagship Women Entrepreneurship Platform (WEP) initiative. In his new role, actor turned entrepreneur will support NITI’s initiative for women entrepreneurs, to fund women-led startups to establish a vibrant, enabling entrepreneurial ecosystem for women ..

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Government to bear MDR charges on transactions up to Rs.2000

The Union Cabinet has decided that Government will borne Merchant Discount Rate (MDR) charges on transactions up to Rs. 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems (AePS) to promote digital transactions. It will be for two years with effect from 1 January, 2018 by reimbursing the same to the banks. Cost ..

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NHAI launches MyFASTag and FASTag Partner mobile apps

The National Highways Authority of India (NHAI) launched two mobile Apps – MyFASTag and FASTag Partner in to facilitate the availability of FASTags for Electronic Toll Collection (ETC) project. The mobile apps will ease the process, making it possible to buy or recharge FASTags easier using mobile button.  Key Facts MyFASTag: It is a consumer ..

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