Airtel Payments Bank launches ‘Bharosa savings account’

The Airtel Payments Bank has launched the Bharosa Savings Account to deepen the financial inclusion in the country. It has been designed to serve the unique needs of under-banked and unbanked population of India. The account offers free Personal Accident ..

India Post Payments Bank to be converted into Small Finance Bank

Indian Posts has made a decision to convert India Post Payments Bank into Small Finance Bank. This will enable the Bank to offer small loans to customers. Payment Banks Payments banks were introduced by the Reserve Bank of India (RBI) ..

India Post Payments Bank (IPPB) ties up with FSS to create payments network for unorganized retail

The India Post Payments Bank (IPPB) has partnered with Financial Software and Systems (FSS) to create payments network for unorganized retail. FSS is a payments technology company that enables micro-merchants to accept payments online, or via Unified Payments Interface (UPI), ..

India Post Payments Bank to start operations with 650 branches in August 2018

India Post Payments Bank (IPPB) is expected to go live with 650 branches in addition to 3,250 access points co-located at post offices in August, 2018 following final clearance from Reserve Bank of India (RBI) to start. RBI has given ..

Month: Current Affairs - July, 2018

Payment Banks

Payments banks are a new model of banks conceptualised by the Reserve Bank of India (RBI) to meet government’s financial inclusion target. It will be set up as a differentiated bank and will confine its activities to acceptance of demand ..

The Aditya Birla Idea Payments Bank starts operations

The Aditya Birla Idea Payments Bank Ltd (ABIPBL) has become the 5th entity to begin operations as a payments bank with effect from February 22, 2018. The ABIPBL is a joint venture between Aditya Birla Nuvo Ltd (51%) and Ideal ..

Union Government allows Atal Pension Yojana for Small Finance Banks and Payments Banks

The Union Government has allowed Small Finance Banks and Payments Banks to offer Atal Pension Yojana (APY). Recently, 10 Small Finance Banks and 11 Payment Banks have got license from Reserve Bank of India to start banking operations in the ..

IPPB Bank to become operational in 650 districts by April 2018

The Union Government has announced that India Post Payments Bank (IPPB) will become operational in all 650 districts of the country by April 2018 to facilitate financial inclusion. These banks will be linked to 1.55 lakh rural post offices for ..

Month: Current Affairs - November, 2017

Suresh Sethi appointed as new MD & CEO of India Post Payments Bank (IPPB)

Suresh Sethi, the former MD of Vodafone M-Pesa Ltd., has been appointed as the new Managing Director & Chief Executive Officer (MD & CEO) of India Post Payments Bank (IPPB). He succeeded A.P. Singh, who had been the interim MD ..

Airtel Payments Bank become India’s first payments bank to integrate UPI on its digital platform

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 ..