RBI constitutes high-level committee to review ATM charges

The Reserve Bank of India (RBI) has constituted a high-level committee under the chairmanship of VG Kannan, Chief Executive of Indian Banks’ Association (IBA) to review the entire gamut of ATM charges and fees. Key Highlights Background: There are around 2 ..

Month: Current Affairs - June, 2019

Kotak Bank unveils Debit Card-Based e-mandate On NPCI’s API Platform

Kotak Mahindra Bank has unveiled the first debit card-based authentication solution on National Payments Corporation of India’s e-Mandate API (Application Program Interface) platform. Kotak Mahindra Bank has become the first ever Destination Bank to go live with both Net Banking ..

Kotak Mahindra Bank becomes first Destination Bank to launch debit card-based e-mandate on NPCI’s API platform

The Kotak Mahindra Bank (KMB) has become the first Destination Bank to go live with Net Banking and Debit Card-based authentication solution on NPCI’s e-Mandate API platform. The facility will enable its customers to create electronic mandates (similar to the ..

RBI Eases Business Guidelines for White Label ATMs

The Reserve Bank of India (RBI) has eased business guidelines for white label ATMs. These new guidelines increase the avenues of revenue earning for the white label ATMs. What are White Label ATMs? Automated Teller Machines (ATMs) set up, owned ..

Month: Current Affairs - March, 2019

BHIM-Aadhar Payment System

The BHIM Aadhaar platform and application seek to minimize the role of plastic cards and point of sale machines, which hitherto are believed to be essential for cashless transaction.  Under this, a customer has to link his bank account with ..

Biswamohan Mahapatra appointed as non-executive chairman of National Payments Corporation of India

Biswamohan Mahapatra has been appointed as non-executive chairman of the National Payments Corporation of India (NPCI) for a period of two years, with effect from February 8, 2018. He succeeded B Sambamurthy, who was the interim chairman of the NPCI ..