Payment systems Current Affairs, GK & News

Ministry of Defence: One Day Salary to PM-CARES Fund; Rs 500 crore contribution

On March 29, 2020, Ministry of Defence approved the proposal to contribute one day salary of the employees to the PM-CARES fund. This will amount to Rs 500 crores. Highlights The salary will collectively include funds from Army, Air Force, Navy and other Defence PSUs. The contribution is voluntary and employees willing to opt out ..

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IIT to set up Data Science Centre at Kanjikode campus

The Indian Institute of Technology, Palakkad is to set uo a research centre in data science. The centre being set up at Kanjikode aims at providing a platform of research for artificial intelligence and Data Science Highlights The centre has been named as the Centre for Research and Education in Data Science. The Centre will ..

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SBI launches contactless mobile phone payments facility

The SBI Card has  launched the ‘SBI Card Pay’ that allows contactless payment using mobile phones at PoS terminals. Using SBI Card Pay, customers can make contactless payments at Near Field Communication (NFC) enabled point of sale terminals with just one tap of their mobiles, without using the physical credit card or entering any PIN. ..

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Google joins hands with Union Government for ‘Digital Payment Abhiyan’

Nasscom’s Data Security Council of India (DSCI) has recently collaborated with the Ministry of Electronics and Information Technology (MeitY) and Google India to launch a nationwide awareness campaign ‘Digital Payment Abhiyan’. The campaign will educate end-users on the benefits of making digital payments and urge them to adopt security and safety best practices. The pan-India ..

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RBI Report pushes for Digital Transactions

The Reserve Bank of India (RBI) report Payment and Settlement: The Plumbing in the Architecture of India s Financial System makes the following observations about digital payments: India s effort to build a less-cash economy is gathering momentum. Digital transactions have witnessed phenomenal growth in digital transactions until March 2019. RBI has set an ambitious ..

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