BHIM Celebrates its Sixth Anniversary: BHIM (Bharat Interface for Money), a locally created payment application, recently celebrated its sixth birthday. On December 30, 2016, Prime Minister Narendra Modi unveiled the BHIM App. Bharat Interface for Money is referred to as BHIM. It is a biometric ...

Banks' balance sheet grows in double digits after 7 years: According to the Reserve Bank of India (RBI) annual report on trend and progress of banking in India, the health of Indian banks continued to improve in 2021–2022 with their balance sheet rising at double digits after a gap of seven ...

Worldline ePayments India Gets RBI’s Nod to Act as Payment Aggregator: The Reserve Bank of India (RBI) has granted in-principle authorization to Worldline ePayments India (WEIPL), a pioneer in digital payments, to function as a payment aggregator (PA). The RBI's authorization was granted in ...

SBI, ICICI Bank, and Axis Bank to bring Rupay credit card on UPI platform:  State Bank of India (SBI), ICICI Bank, and Axis Bank want to begin distributing RuPay credit cards via the UPI by March 2023. Currently, the RuPay credit card segment on the UPI platform is live with three public ...

HDFC borrows USD 400 million from IFC: As part of their efforts to promote climate goals, the International Finance Corporation (IFC) has provided a loan to mortgage giant HDFC in the amount of USD 400 million for the financing of green, affordable housing units. December 2022 Current Affairs ...

Leh - J&K bank signs MoU to provide banking facilities to the UT employees: Union Territory Ladakh and the Jammu and Kashmir Bank Ltd signed a Memorandum of Understanding, MoU, to provide banking facilities to the UT employees. Under the MoU, J&K Bank would give the most favoured client ...

Paytm, HDFC ERGO launches insurance for digital transactions: Paytm has partnered with the HDFC ERGO General Insurance to launch a group insurance plan called ‘Paytm Payment Protect’. This group insurance plan covers Unified Payments Interface (UPI) transactions across all apps and wallets. The ...

Global Economy on a steep Slowdown: The most recent World Bank study indicates that after nearly a year of uncertainty in 2022, the global economy is in a severe downturn. The World Bank report noted that the COVID-19 pandemic’s repercussions are still being felt today in the form of ...

Bandhan Bank signs MoU with Defence Ministry for defence pensioners: Bandhan Bank has signed a Memorandum of Understanding (MoU) with Controller General of Defence Accounts, Ministry of Defence, for extending banking services to the defence pensioners and their families through 557 branches. ...

Indian Bank launched special retail term deposit “Ind Shakti 555 days”: Indian Bank has launched a new special retail term deposit dubbed as “Ind Shakti 555 days”, effective from December 19, 2022. This product is offering higher rate of interest for investment starting from Rs. 5000 to less than ...