Cross-Border Inter-Bank Payments System: GK, Current Affairs, Questions, Trivia and News

SBI becomes first Indian bank to link up with China’s National Advance Payment System

The State Bank of India’s (SBI) Shanghai branch has become the first Indian bank to link up with China’s National Advance Payment System (CNAPS). After being a member of the CNAPS, SBI Shanghai can also offer real time transfer of local funds within China by routing them through the PBOC. It eliminates the need of ..