Digital Payment Current Affairs, GK & News

World Bank Global Findex Database 2021

World Bank recently released the “Global Findex Database 2021”. As per report, account ownership has increased worldwide. Key Findings of the report Report notes that, three out of four adults are having a financial account today. Despite that, 1.4 billion adults have no bank account. In developing countries; wage payment, from private sector or government ..

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RBI’s Digital Payment Index

The Reserve Bank of India recently released the Digital Payment Index. According to the index, the digital payments in the country have increased by 40% in September 2021 as compared to March 2021. Key findings The index measure of online transactions was 304.06 in September 2021. It was 270.59 in March 2021. In September 2020, ..

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‘HARBINGER 2021 – Innovation for Transformation’ – RBI’s first global hackathon

Reserve Bank of India (RBI) is set to organise its first global hackathon called ‘HARBINGER 2021–Innovation for Transformation’ focusing on digital payments. Key Points The global hackathon will be organised under theme of ‘Smarter Digital Payments’. It will witness participants to identify and develop solutions which can be used: To make digital payments accessible to ..

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e-RUPI Digital Payment Solution- Key Facts

Prime Minister Narendra Modi is to launch “e-RUPI Digital Payment Solution” on August 2, 2021. e-RUPI is an e-voucher-based payment solution. Highlights e-RUPI initiative will be launched to limit touch points between government and beneficiary. Platform will also ensure that benefits reach its intended beneficiaries in a targeted and leak-proof manner. e-RUPI is a one-time ..

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Postpaid Mini: Paytm launches small ticket loans

Digital payments and financial services platform, Paytm, have launched “Postpaid Mini” service for users on July 5, 2021. About Postpaid Mini service Postpaid mini service was launched in partnership with Aditya Birla Finance Ltd. It is an extension of Paytm’s “Buy Now, Pay Later service”. It seeks to driving affordability amongst people who are new ..

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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 ..

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