Wallet Current Affairs, GK & News

ICICI Lombard and Mobikwik collaborates to provide Insurance cover of Rs 50,000

ICICI Lombard and Mobikwik has announced a partnership to avail cyber-insurance cover of Rs 50,000 crore to defend against online frauds. This partnership aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets. This cyber-insurance can be availed digitally through an app at only Rs 99 per ..


RBI prohibits Mobile network operators from offering mobile wallet facility

The RBI asserted that it will not permit mobile network operators to offer cash-out or mobile wallet service. Why RBI has asserted this? As per RBI, mobile wallet is basically an e-money product and therefore permitting mobile network operators provide this facility may bypass banking regulations. However, RBI allows transactions if mobile network operators operate ..