User: srikanthlogic Topic: Digital Payments
Category: Payment Banks
Last updated: Jul 08 2020 09:19 IST RSS 2.0
 
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Paytm Payments Bank registers 100 million KYC wallets 23.4.2018 Sify Finance
[India], April 23 (ANI): Paytm Payments Bank announced on Monday that it now has over 100 million KYC wallets, against the constant campaigning done by bank about the benefits of the Know Your
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Paytm Payments Bank registers 100M KYC wallets 23.4.2018 General News
Paytm Payments Bank announced on Monday that it now has over 100 million KYC wallets, against the constant campaigning done by bank about the benefits of the Know Your Customer (KYC) system.After the successful response received, the bank has introduced several options that include Paytm KYC centers and 'Paytm-Ka-ATM' outlets to offer more localised support. Customers can locate these through the 'Nearby' section on the Paytm app. KYC'ed customers also have a choice to open a zero-balance account with Paytm Payments Bank."We are excited to see that our customers appreciate the benefits of completing their KYC and it is evident with the large number of KYC requests that we are receiving. We are doing our best to serve everyone as soon as possible while we continue to set new benchmarks for ourselves. As our commitment to our customers, we will continue to invest further to strengthen the payments infrastructure in our country," said Renu Satti, MD and CEO - Paytm Payments Bank.On a ...
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Global cues, quarterly results to guide equity indices (Market Outlook) 22.4.2018 General News
Global cues such as volatile crude oil prices, along with the policy stance of major global central banks and the ongoing quarterly results season are expected to guide the Indian equity market's trajectory next week.
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Equities surged on IMD's monsoon forecast, healthy IT earnings (Market Review) 21.4.2018 All News-IANS Stories
Forecast of normal monsoon rains, along with healthy earnings in the IT sector, lifted the Indian equity markets during the week ended Friday.
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Govt to continue talks with RBI on easing non-performing asset norms 20.4.2018 Business Standard: News Now
Officials said the Prime Minister's Office and Finance Minister Arun Jaitley had been apprised of the matter
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UltraTech questions resolution process of Binani Cement 19.4.2018 General News
Aditya Birla group firm UltraTech Cement today told the Kolkata bench of NCLT that the process followed by the Resolution Professional and the Committee of Creditors while evaluating the bids for Binani Cement was "fraudulent". Appearing on behalf of UltraTech Cement, senior advocate Mukul Rohatgi questioned the process followed by the Committee of Creditors (CoC) of Binani Cement led by Bank of Baroda in selecting rival Dalmia Bharat Group as the highest bidder. He submitted that UltraTech apprehends that it was not declared as the H1 bidder in view of the penalty imposed by the Competition Commission of India. On February 27, 2018, CoC informed that UltraTech is the H2 bidder. According to him, UltraTech was not given an opportunity to explain its case that the penalty imposed by CCI was subsequently removed and that it should have therefore been regarded as H1. UltraTech today concluded its argument before the NCLT and hearing would continue tomorrow. The Kolkata bench of the ...
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SBI not to charge fees on PoS cash withdrawals 19.4.2018 General News
Lending major State Bank of India on Thursday said that it will not charge any fees from customers who avail the facility of withdrawing cash through its PoS (Point of Sale) machines installed across various merchant locations.
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Cash crunch a political conspiracy to mislead nation: Manoj Sinha 19.4.2018 General News
Telecom Minister Manoj Sinha today said that there is enough cash available in the country and the hype around currency shortage has been created to mislead the nation. "I feel that it is unnecessary hype which has been created. Finance Secretary and RBI have said that there is no cash crunch in 80 per cent of the ATMs and there is enough cash available in RBI chest also. It is a political conspiracy to mislead nation. People should remain cautious from such conspiracies," Sinha said in response to query on cash crunch in the country. He was speaking to reporters on sidelines of inaugurating Parcel Directorate under Department of Posts here. He alleged that an artificial demand was created to create the hype around cash crunch. Postal Secretary A N Nanda said there are 992 ATMs of India Post and there has not been any issue with them. Talking about Postal Directorate, Sinha said that the new department will focus on parcel business which is growing at a rate of 15 per cent ...
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Here's how payment banks are likely to impact on your financial life soon 19.4.2018 Latest News
By foraying into distribution, forex and digital lending, they are creating more touch points with customers
Fixed Deposit offers higher returns to senior citizen 18.4.2018 General News
Fixed deposits (FD) have been the preferred mode of investment in India since last many years. They are so popular that whenever someone thinks about various avenues where they can invest their savings, fixed deposits are the first to come to mind.FD's are a standard financial product offered by most of the financial institutions and are also known as Term Deposits. They are easy to operate, assured guaranteed returns and are free from market volatility.Due to the safety of investment and consistent returns, FD's are preferred especially by senior citizens to plan their retirement by creating a corpus of the desired amount. Bajaj Finserv through its lending and investment arm Bajaj Finance Ltd., offers higher returns coupled with distinctive features to senior citizen.Bajaj Finserv FD's offer the highest rate of interest for senior citizens up to 8.2 percent per annum, which is the highest in the industry. This ensures guaranteed high returns and stable source of income for senior ...
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Govt seeks RBI nod to launch India Post Payments bank 18.4.2018 Rediff: Business
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
All post office branches to be linked with IPPB in 5 months: Sinha 17.4.2018 General News
The Department of Posts will link all post office branches with the India Post Payments Bank (IPPB) in the next 5 months to provide full fledged digital banking services across the country, Union Telecom Minister Manoj Sinha said today. "There are two India Post Payments Bank operational and soon we will start another 648 of its branches at all district centres. All 650 post payments bank will be connected to rural post offices. With this, in coming five months there will be 1.5 lakh more new banks. We will facilitate functions similar to those done by big banks," Sinha said while launching an app for insurance service of the postal department. He said this will create huge financial services network for rural areas. Sinha said IPPB branches will start functioning after technology vendor completes the work of operating the banking network. The minister launched the postal insurance app which will enable people in rural areas to pay for insurance premium and get the receipt ...
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Govt to launch India Post Payments bank soon, seeks RBI approval 17.4.2018 Business Standard: News Now
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
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Dalmia Bharat alleges information leakage in Binani Cement bidding process 17.4.2018 Latest News
Dalmia Bharat Cement claimed that UltraTech Cement revised its bid as there was a leak; in turn, UltraTech Cement hits back
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Reliance Jio raises Rs 32.5 bn as samurai term loan from Japanese banks 14.4.2018 Top Stories
At an exchange rate of 60 paise per Japanese yen, the loan value comes to around Rs 32.48 billion
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Despite bankers' plea, RBI is unlikely to change its new NPA norms 13.4.2018 Business Standard: News Now
The February 12 circular of the Reserve Bank of India (RBI) on bad debt recognition norms have miffed bankers and corporates alike but sources in the know of the central bank's thinking maintains that it is unlikely to budge from its stance.RBI, the sources say, has taken away leeway from bankers on postponing the problem of bad debt. And, apart from scrapping the earlier restructuring schemes, there is nothing much it has done that is not in line with the now functioning Insolvency and Bankruptcy Code (IBC). BackgroundRBI feels banks have clearly abused its earlier rules for restructuring of loans. "Look at the SDR (strategic debt restructuring) schemes that banks invoked on about 20 accounts. They managed to resolve just one account," said a senior RBI official, who did not want to be named. Then RBI governor Raghuram Rajan, in February 2016, goaded banks to cleanse their accounts. Rajan said instead of using tools to solve the problem, banks had used the restructuring norms such as
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Jio, Sodexo join hands to accelerate digital transformation 13.4.2018 Sify Finance
[India], Apr. 12 (ANI): Reliance Jio and Sodexo, on Thursday announced a partnership to accelerate India's digital transformation. The two companies will leverage complementary strengths and
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PNB scam: CBI questions 2 DGM-level officers of SBI's foreign branches 12.4.2018 Business Standard: News Now
The $2 billion scam became public in January after the CBI registered an FIR in the matter, but by that time both the high-profile jewellers had left India with family
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Reliance Jio, Sodexo come together for mobile wallet services 12.4.2018 All News-IANS Stories
Telecom major Reliance Jio and employee benefits provider Sodexo on Thursday announced a partnership in the mobile wallet segment.
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Reliance Jio integrates Sodexo with JioMoney 12.4.2018 General News
Reliance Jio and employee benefits firm Sodexo today joined hands to integrate Sodexo Meal Cards with JioMoney, the PPI wallet offered by the Jio Payments Bank, to allow mobile-based payments through Sodexo Meal Cards. The partnership will enable thousands of Sodexo merchants like grocery shops, kiranas, restaurants and cafes across the country, to accept digital payments via Sodexo, a joint statement said. ******************* Cash Suvidha ties up with StoreKing for rural loans * Cash Suvidha, a trade name of Usha Financial Services has today announced its partnership with rural digitisation and commerce optimisation platform, StoreKing. This technology-enabled distribution platform is connecting small towns and villages across the country to a range of products and services, via an app. Through this partnership, Cash Suvidha has disbursed loans worth Rs 1 crore in just one month, the company claimed in a release. Going forward, the company plans to extend loans worth .
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