PM SVANidhi Scheme Celebrates Successful Completion of 3 Years The PM SVANidhi Scheme, aimed at providing affordable loans to street vendors, recently completed three successful years since its launch. This flagship scheme, initiated by the Government of India, has played a pivotal role in empowering street vendors and ensuring their financial inclusion. Over the years,…
UPI Transactions Reach Record High of Rs. 14.3 Trillion in May 2023 The world of digital transactions witnessed a remarkable milestone in May 2023 as Unified Payments Interface (UPI) transactions in India soared to an all-time high. According to recent reports, UPI transactions reached an unprecedented record of Rs. 14.3 trillion during this period, showcasing…
Bank of India has announced the appointment of Rajneesh Karnatak as the new Managing Director (MD) and Chairman of the bank. He will be succeeding Atanu Kumar Das, who will be retiring on May 31st, 2023. Karnatak’s appointment is for a period of three years starting from June 1st, 2023. Karnatak was previously serving as…
RBI Allows AU Small Finance Bank to Deal with Foreign Exchange The Reserve Bank of India (RBI) has recently allowed AU Small Finance Bank to deal in foreign exchange (FX) services. The bank can now offer services such as outward remittances in foreign currency and issuance of foreign currency travel cards, among others. AU Small…
Women Entrepreneurs in India : BharatPe collaborates with NITI Aayog’s Women Entrepreneurship Platform to empower MSMEs in India BharatPe, an Indian fintech firm, has partnered with NITI Aayog’s Women Entrepreneurship Platform (WEP) to support women entrepreneurs in the micro, small and medium enterprise (MSME) sector. This partnership aims to provide easy access to working capital…
Max Life partners with Ujjivan Small Finance Bank to offer life insurance solutions Max Life Insurance, one of India’s leading private insurance companies, has partnered with Ujjivan Small Finance Bank to provide comprehensive life insurance solutions to its customers. The strategic partnership will enable Ujjivan Small Finance Bank’s customers to access Max Life Insurance’s products…
RBI digital payment mission : RBI Launches Mission to Make Every Citizen a User of Digital Payment The Reserve Bank of India (RBI) has launched a mission to make every citizen a user of digital payment. The mission aims to achieve the goal of a less-cash society and promote digital payments as the preferred mode…
EPFO Nidhi Aapke Nikat Launches: Massive Outreach Programme The Employees’ Provident Fund Organization (EPFO) has launched a new initiative called Nidhi Aapke Nikat, which is a massive outreach program aimed at bringing its services closer to the doorstep of its members. The program is part of the government’s efforts to promote financial inclusion and enable…
Centre Clears Rs. 2600 Cr Scheme to Promote Digital Payments RuPay, BHIM, UPI The Indian government has approved an Rs. 2600 crore scheme aimed at promoting digital payment platforms, including RuPay, BHIM, and UPI. This scheme is aimed at encouraging the use of digital payment methods in the country and reducing the dependence on cash….
Kerala Becomes Country’s First Fully Digital Banking State Kerala has become the first state in India to complete the transition to a fully digital banking system. This accomplishment was achieved through the launch of the e-Vijaya initiative, which aims to provide a range of digital banking services to citizens across the state. With this move,…
