Topic: Digital Banking
Kerala Becomes Country’s First Fully Digital Banking State
Kerala has become the first state in India to enable digital banking in all eligible accounts. According to the State-Level Bankers’ Committee (SLBC), the state now has at...
UPI Reaches Record High in December
India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume...
FIRSTAP – India’s First Sticker-based Debit Card
IDFC First Bank, in association with the National Payments Corporation of India (NPCI), recently launched FIRSTAP – India’s first sticker-based debit card. What is a sticker-based debit card?...
BHIM App open-source license model
BHIM App open-source license model was announced by the National Payments Corporation of India (NPCI). What is BHIM App open-source license model? Under the BHIM App open-source license...
What are Digital banking units?
75 digital banking units were inaugurated by Prime Minister Modi on October 16, 2022. Key facts In the Union Budget 2022-23, the Indian Government announced the setting up...
RBI Concept Note on CBDC
On October 7 this year, the Reserve Bank of India launched a concept note to raise public awareness about central bank digital currency (CBDC). Key facts The recently...
Implementation of Card Tokenization
The tokenization of card-based payments will be implemented from October 1, 2022. Key facts The Reserve Bank of India has announced that it will not extend the October... What are NITI Aayog proposals for regulation of Digital Banks?
On July 20, 2022, NITI Aayog released a report on digital banks titled “A proposal for Digital Banks in India: Licensing and Regulatory Regime’’ In the report, government’s...
PayPal introduces digital Foreign Inward Remittance Advice (FIRA)
The Digital Payment service provider PayPal recently introduced Foreign Inward Remittance Advice. It is an automated process to obtain monthly foreign inward remittance advice. What is FIRA? It...
Axis Bank Launches WhatsApp Banking
The Axis Bank has launched the WhatsApp Banking with the objective of helping and addressing the banking needs of its customers on March 3, 2021. The WhatsApp Banking...
Digital Banking: Over 2.9 lakh Cyber Security incidents reported in 2020
The Minister of State for the Electronics and IT, Sanjay Dhotre, highlighted in a written reply to the Rajya Sabha that; more than 2.9 lakh digital banking cybersecurity...
