Financial Transactions Current Affairs, GK & News
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 1 deadline for the implementation of the card tokenization. The deadline has been extended twice previously. Around 35 crore tokens have already been created and in September, ..
Month: Current Affairs - October, 2022
Category: Banking Current Affairs • Economy & Banking Current Affairs - 2022
Topics: Card Tokenization • Cybersecurity • Digital Banking • Electronic Banking Transactions • Financial Transactions • RBI's Card Tokenisation Rule • Reserve Bank of India • Token
NPIC to export UPI, sets up subsidiary: RBI Governor
The Unified Payment Interface was introduced in India in 2016. Based on its performance, Google has recommended similar service called FedNow to the US Federal Reserve Board. With its growing popularity, the RBI on December 16, 2019 announced that NPCI will set up a subsidiary to export UPI. India is already extending the app to ..
Month: Current Affairs - December, 2019
Category: Economy & Banking Current Affairs - 2022
Topics: Banking Sector • Banking Technology • Electronic Banking Transactions • Financial Transactions • Google • International Banking • Internet banking • NPCI • UPI
PFMS portal processes record transactions on single day
The Public Financial Management System (PFMS) portal has processed record Rs 71,633 crore transactions on a single day. This was a historical record breaking volume of digital transactions achieved by PFMS. Public Financial Management System (PFMS) It is end-to- end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting. It is implemented by Controller ..
Month: Current Affairs - March, 2018
Category: Science & Technology Current Affairs
Topics: Financial Transactions • Government Schemes • Ministry of Finance • PFMS • Public Financial Management System