Page-2 of Digital Banking
PayPal introduces digital Foreign Inward Remittance Advice (FIRA)
The Digital Payment service provider PayPal recently introduced Foreign Inward Remittance Advice. It is an automated process to obtain monthly foreign inward remittance advice. What is FIRA? It is a document that acts as a proof for all the payments ..
Month: Current Affairs - May, 2021
Axis Bank Launches WhatsApp Banking
The Axis Bank has launched the WhatsApp Banking with the objective of helping and addressing the banking needs of its customers on March 3, 2021. The WhatsApp Banking will help the customer to use the bank anywhere and anytime on ..
Month: Current Affairs - March, 2021
Digital Banking: Over 2.9 lakh Cyber Security incidents reported in 2020
The Minister of State for the Electronics and IT, Sanjay Dhotre, highlighted in a written reply to the Rajya Sabha that; more than 2.9 lakh digital banking cybersecurity incidents were reported in the year 2020. Cases of cyber incidents The ..
Month: Current Affairs - February, 2021
RBI to set up a 24×7 helpline for Digital Payment Services
The Governor of Reserve Bank of India, Shaktikanta Das, recently announced that the central bank will set up a 24*7 helpline platform in order to strengthen the digital payment services in India. This announcement was made through the Statement on ..
Month: Current Affairs - February, 2021
Payment Infrastructure Development Funds
The Reserve Bank of India recently announced operational guidelines to Payment Infrastructure Development Funds. The main aim of the funds is to deploy more digital payment infrastructure across tier-3 to tier-6 centres and in the north eastern states. What are ..
Month: Current Affairs - January, 2021
DakPay of India Post Payment Bank
“DakPay” is an application launched by India post payment Bank as a part of its ongoing initiatives to provide digital financial inclusion to the country. The application was launched by the Union Minister for communications, law and Justice and electronics ..
Month: Current Affairs - December, 2020
Bengaluru accounts for the highest number of digital transactions in India
As per the recent report by online payment processor Worldline India, Bengaluru accounted for the highest number of digital transactions in India in 2019. Bengaluru, which was the leading city in digital transactions in 2018, is followed by Chennai, Mumbai and Pune ..
GoI to increase reach of banking in the North-East Tea Garden areas
On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased. Highlights The minister in a meeting with economists, trade and industry representatives and policy experts announced that the ..