innovationinbanking

  Reference Article for this Blog Post - Vahdam Teas ties up with BYJU’S for digital learning of tea estate workers’ children @ https://www.financialexpress.com/industry/vahdam-teas-ties-up-with-byjus-for-digital-learning-of-tea-estate-workers-children/2092364/   Byju has tied up with multiple finance companies to enable parents to take loans for Byju’s courses. Capital Float and Bajaj Finance are amongst the well-known finance companies Byju has partnered with. Capital Float: Way back in 2017, Capital Float collaborated with India Stack started to disburse micro loans to kirana stores. The process is completely paperless with no human intervention. The loans are disbursed within90 seconds of the loan request. Algorithms drive the underwriting process. This means, Capital Float has the expertise in microloans . Only the target audience is bit different. Reference: Rs 3cr in 3 days and Rs 25,000 in 90 seconds, Capital Float is cutting out that troublesome wait for business l

  Reserve Bank of India vide   Circular No. RBI/2020-21/41 DPSS.CO.RPPD.No.309/04.07.005/2020-21 dt. September 25, 2020 announced the go-live date for ‘Positive Pay System for Cheque Truncation System’. The Go-Live date is January 01, 2021. This is in line with the ‘Statement on Developmental and Regulatory Policies’ dated August 6, 2020 wherein Reserve Bank of India (RBI) had announced the introduction of Positive Pay System for Cheque Truncation System (CTS). Q: What is the concept of Positive Pay for Cheques? Ans: The concept of Positive Pay involves a process of reconfirming key details of large value cheques. Under this process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, internet banking, ATM, etc., certain minimum details of that cheque (like date, name of the beneficiary/payee, amount, etc.) to the drawee bank, The respective details of are cross-checked with the presented cheque by NPCI CTS (Cheque Truncation System).

  The pictures say it all. Nothing more to add

  UPI started four years ago, but it seems it has been around for a majority of bank account holders. UPI is the de-facto choice for millions of bank account holders across India. The love for UPI transcends boundaries, across states, across time. Thousands of UPI transactions flow every minute across the country. The joy of sending and receiving monies within seconds in bank accounts is worth watching.   The sadness of not able to send or receive monies due to UPI disruption has to be seen on the face of my office canteen chaiwallah. The same sad feeling reflected across many bank holders, during the 2 nd half of 17 th September 2020. They could not understand what was wrong: - 01)                        Mobile Network issues 02)                        Issue with sender’s bank 03)                        Issue with receiver’s bank 04)                        Issue with their UPI App UPI saw its lowest September 2020 volumes on 17 th September, 2020. The 17 t

  Over the years, Bangladesh Government has various introduced various measures to popularise prepaid meters for electricity consumers. The main focus of prepaid meters is to lessen the pain of bill payments and increase the recovery rate for electric companies. One of the major pain paints prepaid consumers face is in the recharge process for the prepaid electric meters. Electricity consumption is based on various factors: - 01) Outside weather 02) Number of people in the house 03) Working day or holiday 04) Festival around the corner 05) Celebration i.e Birthday, Marriage, etc around the counter 06) Important event around the corner i.e Examinations, planning for a long time Hence, it’s a continuous challenge for the consumers estimate their charges and ensure enough credit balance in the prepaid electricity wallet. It’s a scary thought if the credit balance in the prepaid electricity wallet suddenly is over in the middle of the night, and as a result the po