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 ..

Month: Current Affairs - August, 2018

Topics: Banking • Cashless Economy • Cashless Transactions • digital economy • MOPAD • Multi Option Payment Acceptance Device • SBI

PM launches cashless/less cash township models across 12 states

Prime Minister has launched 81 cashless/less cash townships across 12 states in Nagpur. The 81 townships included 56 in Gujarat and 25 in 11 states including Delhi, Gujarat, Uttar Pradesh, Madhya Pradesh, Maharashtra, Bihar and Chhatisgarh. The model of cashless/less cash township was developed by Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) across these ..

Month: Current Affairs - April, 2017

Topics: Cashless Economy • Cashless Transactions • digital economy • National • NITI Aayog

Union Government constitutes Amitabh Kant Committee to push cashless transactions

The Union Government has constituted a new committee to form a strategy to expedite the process of transforming India into a cashless economy. The committee will be headed by Niti Aayog CEO Amitabh Kant. It has been tasked with identifying various bottlenecks affecting access of digital payments. Terms of Reference of Committee Identify and operationalise ..

Month: Current Affairs - November, 2016

Topics: Amitabh Kant • Cashless Economy • Cashless Transactions • Demonitisation • Government Committees

Union Cabinet gives nod to incentivise cashless transactions

The Union Cabinet has given its approval for introduction of steps for promotion of cashless payments (transactions) through cards and digital means. In this regard, various short and medium term measures have been approved for implementation by the Government Departments, Ministries and Organisations. The essential feature of the approved proposal include Steps for withdrawal of ..

Month: Current Affairs - February, 2016

Topics: Black Monet • Cabinet Decisions • Cashless Economy • Cashless Transactions • Current Affairs 2016