The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available for customers from 8 AM to 7 PM on all working days of the week ..
Payment and settlement systems in India: GK, Current Affairs, Questions, Trivia and News
A Reserve Bank of India (RBI) – appointed committee headed by Aadhaar architect Nandan Nilekani submitted its report on promoting digital payments to RBI Governor Shaktikanta Das on May 17. The RBI will examine the recommendations of the committee and will link the action points, wherever necessary, in its Payment Systems Vision 2021 for implementation. ..
The Reserve Bank of India (RBI) has released a vision document – Payment and Settlement Systems in India: Vision 2019 – 2021 – with its core theme of ‘Empowering Exceptional E-payment Experience’, for ensuring a safe, secure, convenient, quick and affordable e-payment system. The move comes as the apex bank expects the number of digital ..
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 and Debit Card-based e-mandate authentication. The motive behind this is to allow Kotak customers to ..
Private Sector Banks refer to those banks where most of the capital is in private hands. In India, there are two types of private sector banks viz. Old Private Sector Banks and New Private Sector Banks. Old private sector banks are those which existed in India at the time of nationalization of major banks but ..
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 board. Apart from him, Dilip Asbe is the Managing Director & CEO of the organisation.
B Sambamurthy, the former Director and CEO of the Institute for Development and Research in Banking Technology (IDRBT), has been appointed as new interim Chairman of the National Payments Corporation of India (NPCI). He will succeed M Balachandran, who was Non-Executive Chairman of NPCI from September 23, 2013 till September 20, 2017. Prior to the ..
The Airtel Payments Bank (APB) has become the India’s first payments bank to integrate the UPI on its digital platform. This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India.