Payment Infrastructure Development Funds

The Reserve Bank of India recently announced operational guidelines to Payment Infrastructure Development Funds. The main aim of the funds is to deploy more digital payment infrastructure across tier-3 to tier-6 centres and in the north eastern states. What are the guidelines issued by RBI? The Central Bank has constituted an advisory council under the ..

Month: Current Affairs - January, 2021

Category: Economy & Banking Current Affairs

Topics: Digital Banking • Digital Payment • Payment Infrastructure Development Fund • Reserve Bank of India • Reserve Bank of India (RBI)

DakPay of India Post Payment Bank

“DakPay” is an application launched by India post payment Bank as a part of its ongoing initiatives to provide digital financial inclusion to the country. The application was launched by the Union Minister for communications, law and Justice and electronics and information technology Sri Ravi Shankar Prasad. Key features The customers of India post payments ..

Month: Current Affairs - December, 2020

Category: Government Schemes Current Affairs • India Nation & States Current Affairs

Topics: Bill Payments • DakPay • Digital Banking • India Post PAyment Bank • mobile application • Online Bill Payment • Payment Banks • QR code

Bengaluru accounts for the highest number of digital transactions in India

As per the recent report by online payment processor Worldline India, Bengaluru accounted for the highest number of digital transactions in India in 2019. Bengaluru, which was the leading city in digital transactions in 2018, is followed by Chennai, Mumbai and Pune this year. The report also revealed that United Payments Interface (UPI) was the most preferred ..

Topics: Bengaluru • Digital Banking • UPI

GoI to increase reach of banking in the North-East Tea Garden areas

On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased. Highlights The minister in a meeting with economists, trade and industry representatives and policy experts announced that the banking in the tea garden regions of the north east is to be increased. This ..

Month: Current Affairs - February, 2020

Category: Economy & Banking Current Affairs

Topics: Assam Tea Traders • Digital Banking • Finance Minister • nirmala sitaraman • North East Development • SBI

EASE 3.0 launched by the Finance Minister to enhance Ease of Banking

On February 26, 2020, the Finance Minister Nirmala Sitaraman launched Enhanced Access and Service Excellence (EASE 3.0). It was launched along with the annual report of EASE 2.0 at a function organized by Indian Banks’ Association. Highlights The main aim of EASE 3.0 is to make public sector banking technology enabled and smart. By this ..

Month: Current Affairs - February, 2020

Category: Economy & Banking Current Affairs

Topics: Banking • Banking Reforms • Digital Banking • Finance Minister • Financial inclusion • nirmala sitaraman