Karnataka Vikas Grameena Bank Receives National Award for APY Implementation Introduction: Karnataka Vikas Grameena Bank (KVGB) has been honored with the prestigious National Award for effectively implementing the Atal Pension Yojana (APY). This recognition underscores KVGB’s commitment to financial inclusion and social security in rural Karnataka. Implementation of Atal Pension Yojana: KVGB, a regional rural…
Muthoot Microfin and SBI Join Forces to Empower Rural Women Entrepreneurs In a significant move towards fostering financial inclusion and empowering rural women entrepreneurs, Muthoot Microfin, a leading microfinance institution, has collaborated with the State Bank of India (SBI). This partnership aims to provide financial assistance and support to women in rural areas, enabling them…
UPI Breaks Record with 1.404 Billion Transactions in May; Sees 49% Year-on-Year Growth The Unified Payments Interface (UPI) in India has achieved yet another milestone by recording a staggering 1.404 billion transactions in the month of May. This feat marks a remarkable 49% year-on-year growth, showcasing the exponential rise in digital transactions and the increasing…
Poonawalla Fincorp and IndusInd Bank Launch Co-Branded RuPay Credit Card Introduction of the New Credit Card Poonawalla Fincorp Limited and IndusInd Bank have collaborated to launch a new co-branded credit card named the ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. This card aims to enhance the customer experience by offering various rewards and…
PhonePe Launches UPI in Sri Lanka in Partnership with LankaPay Introduction: In a significant move towards expanding its digital payment services beyond borders, PhonePe, India’s leading digital payments platform, has launched its Unified Payments Interface (UPI) services in Sri Lanka. This strategic initiative comes in collaboration with LankaPay, the national payment network of Sri Lanka,…
Zeta Launches Digital Credit-As-A-Service for Banks in India, Revolutionizing Credit Access In a significant move to reshape the landscape of credit accessibility in India, Zeta, a leading fintech company, has unveiled its groundbreaking initiative, Digital Credit-As-A-Service for banks. This innovative offering aims to revolutionize the traditional banking model by providing a seamless digital platform for…
RBI Approves REC to Establish Subsidiary in GIFT City The Reserve Bank of India (RBI) has recently granted approval to Rural Electrification Corporation (REC) to establish a subsidiary in the Gujarat International Finance Tec-City (GIFT City). This move comes as a significant development in the financial sector, particularly in the realm of infrastructure financing. Why…
NPCI Partners with Bank of Namibia to Develop UPI-like Instant Payment System In a significant move towards enhancing digital payment systems globally, the National Payments Corporation of India (NPCI) has forged a strategic partnership with the Bank of Namibia to develop an instant payment system akin to India’s Unified Payments Interface (UPI). This collaboration marks…
Revolutionizing the Payment Landscape: CRED’s New Offline QR Code Scan & Pay Service In a significant development in the realm of digital payments, CRED, the popular credit card bill payment platform, has introduced a groundbreaking feature – the Offline QR Code Scan & Pay service. This innovative offering is poised to transform the payment landscape…
RBI’s Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks The Reserve Bank of India (RBI) recently released guidelines regarding the voluntary transition of small finance banks to universal banks. These guidelines come as a significant development in the banking sector and have implications for various stakeholders. Introduction to the Guidelines The RBI’s…
