Payments bank Current Affairs, GK & News
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 Insurance cover worth Rs 5 Lakhs on maintaining a balance of just Rs 500 along ..
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) to meet the government’s financial inclusion target. A payment Bank will be set up as ..
Topics: 32758 • Bank • Banking • Economy • Finance • Financial inclusion • Financial services • India Post Payments Bank • Indian Posts • Microfinance • Online banking • Payments bank • Priority sector lending • Priority sector lending • RBI • Reserve Bank of India • Reserve Bank of India • Small finance bank
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), Quick-Response (QR) codes, Aadhaar and IPPB accounts. FSS will also provide merchant management and settlement ..
Topics: Aadhaar • Banking • Banking in India • Economy of India • Financial services • India Post • India Post Payments Bank • Interbank networks • Mobile payments • Mobile payments in India • Payments bank • Unified Payments Interface
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 approval to IPPB after testing its entire system. Key Facts IPPB was incorporated on August ..
Month: Current Affairs - July, 2018
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 deposits, remittance services, Internet banking and other specified services but cannot undertake lending services. Payments ..