RBI Raises Offline Payment Transaction Upper Limit to ₹500 from ₹200 In a significant move aimed at promoting digital transactions and reducing the reliance on cash in India, the Reserve Bank of India (RBI) has recently increased the offline payment transaction upper limit to ₹500 from ₹200. This decision comes as a part of RBI’s…
Microfinance Landscape Shift: Standalone MFIs Take Lead with 40% Microlending Share Microfinance institutions (MFIs) have been a driving force in financial inclusion across India, providing much-needed support to the underserved and marginalized communities. In recent times, the microfinance landscape has witnessed a significant shift, with standalone MFIs emerging as leaders in the sector, now commanding…
HDFC Bank Launches India’s First Co-Branded Hotel Credit Card with Marriott In a significant development in the financial and hospitality sector, HDFC Bank has recently unveiled India’s inaugural co-branded hotel credit card in collaboration with Marriott International. This pioneering initiative is poised to make a substantial impact on the banking and travel industry, offering a…
Canara Bank Pioneers UPI-Interoperable Digital Rupee Mobile App for CBDC Transactions The Indian banking sector has witnessed a groundbreaking development as Canara Bank takes a bold step towards digital innovation by introducing a UPI-interoperable Digital Rupee mobile app for Central Bank Digital Currency (CBDC) transactions. This initiative is poised to revolutionize digital banking and payments…
Axis Bank Partners with RBI Innovation Hub to Launch Kisan Credit Cards Axis Bank recently announced a groundbreaking partnership with the Reserve Bank of India (RBI) Innovation Hub to introduce Kisan Credit Cards (KCC) for farmers. This initiative is set to bring about a significant transformation in the agricultural credit landscape of the country. Why…
Introducing Canara Jeevan Dhara – Tailored Savings Account for Pensioners In the ever-evolving landscape of financial services, Canara Bank has taken a commendable step by introducing the ‘Canara Jeevan Dhara’ savings account, specifically designed to cater to the needs of pensioners. This initiative comes as a breath of fresh air for retirees who seek seamless…
NPCI Launches UPI Chalega 3.0 Campaign to Drive UPI Adoption and Safety Awareness The National Payments Corporation of India (NPCI) has initiated a significant step towards promoting digital payments and enhancing security awareness through its latest campaign, UPI Chalega 3.0. This campaign aims to further popularize the Unified Payments Interface (UPI) and educate users about…
Reserve Bank Holds 33rd Conference of State Finance Secretaries The Reserve Bank of India (RBI) recently organized the 33rd Conference of State Finance Secretaries, bringing together top officials from state governments to discuss key financial matters and strategies. The conference aimed to facilitate collaboration and exchange of ideas among the participants, ultimately promoting effective financial…
“Pradhan Mantri Mudra Yojana (PMMY) Loans Witness 23% Disbursal Increase in Q1 FY24” The Pradhan Mantri Mudra Yojana (PMMY) has been instrumental in providing financial support to aspiring entrepreneurs and small business owners across the country. In a positive development, the PMMY loans have witnessed a remarkable 23% increase in disbursals during the first quarter…
International Day of Family Remittances 2023 The International Day of Family Remittances is observed on June 16th every year to recognize the significant contributions made by migrant workers in supporting their families and communities back home. This day highlights the importance of remittances in improving the lives of millions of people around the world. In…
