innovationinbanking

  Financial Literacy Week 2022 Theme “Go Digital, Go Secure”             Reserve Bank of India has a tradition of conducting FLW or Financial Literacy Week (FLW) every year since 2016.             The objective of Financial Literacy Week is to propagate financial education messages on various themes among members of the public across the country.             The FLW theme for 2022 is finalized and it is “Go Digital, Go Secure”.             The “Go Digital, Go Secure” theme will be observed between February 14-18, 2022.             Under the “Go Digital, Go Secure” theme, there will be three focus areas.             The three focus areas are (...

    Railways and UPI Lite – 1,00,00,000 UPI Lite Transactions per day - Let the Magic begun           More than 2 crores passengers travel across 67,956 kms spread across 7,325 stations of our country.           Let the Magic begun Brief Introduction of UPI Lite: - National Payments Corp. of India is testing a solution to allow Unified Payments Interface (UPI)-based digital pay without an internet connection. Dubbed UPI Lite, it is expected to be used in rural areas to allow for small digital payments under 200 rupees (about $2.68).   It will also allow phone users to make digital payments from their bank accounts. Two solutions are being tested, including a SIM overlay and a software-provisioned solution that leverages over-the-air (OTA) updates. The RBI, on January 5, allowed digital payments up to Rs 200 to be made without internet connections.   Read mor...