Recent Banking Affairs:
India Post’s Payment Bank:
Nearly 40 MNC’s are ready to converge with India Post for its forthcoming payment bank inclusive of ICICI Bank, Barclays, Citigroup etc.,
Federal Bank’s New theme to ease the Fund Transfers:
Federal Bank started a quick facility to speed up funds transfer up to Rs.5000 as daily limit and Rs.25000 as a monthly cap by giving a missed call.
State Bank of Travancore (SBT)
SBT went on a brand new step to prevent delay in giving MGNREGS with new initiative – Electronic Funds Management System to distribute wages quicker.
- Andhra Bank Initiated IMPS system all over the country for providing Inter Bank Funds Transfer.
- IMPS – Immediate Payment Service: By this customer can able to transfer up to Rs.2 lakhs with 5 Rs. as service fee per transaction.
- ICICI Bank spends Rs.200 crore on social sector projects.
- PayTm: The leading mobile wallet firm PayTm has allotted Mr. Varun Khullar as the head of partnership division.
CEO of PayTm: Vijaya Shaker Sharma.
- U-WIN (Unorganized- Workers Identity Number) Cards:
The Central govt. plans to provide U-WIN Cards to link with govt. schemes to dispense the cash to the unorganized sector staff and to avail the facilities of govt. schemes.
- Andhra Pradesh State Govt. might sign 2 lakh crore worth MoU’s in several sectors on CII Partnership Summit 2016 which is scheduled to take place in Vizag.