HDFC recently introduced their new all-in-one app PayZapp for making payments and money transfer mobile app. This is a unique invention of app launched by the leading bank of India to help the customers to make any type of payment just in one click. This app allows n number of transactions ranging from mobile recharge to ticket purchases for holidays and travel, shopping and other type of purchasing etc.
Finally, after much anticipating, Reserve Bank of India, or RBI came up with the final mode of paying issues, with a completely new set of guidelines. This is likely to end all ambiguity, which surrounds the field of contact less payment solutions. As reported earlier, there is not going to be an additional verification factor, which can land up to any amount till 2000 bucks.
Very Recently biggest private industry loan provider ICICI Financial institution together with Tech Mahindra released a transaction support ‘Tap-n-Pay’ based on the near-field communications (NFC) technology, allowing clients make over-the-counter expenses without using money. It can be used for vendor expenses by merely hitting a NFC-enabled cell phone or a tag on the reverse.
Getting a credit card has never been this easier before. Now banks like ICICI, Axis, SBI and such others are issuing credit cards against the fixed deposit accounts opened with them. This new idea is formulating in the market virally as the banks aggressively marketing this product in the market with a new enthusiasm.
All right, its time to tackle some important questions and controversies. Do cycles exist in financial markets? Even if they exist, can we trade them profitably? Perhaps it’s often debated only on first scale and completely ignored on second scale basis. Let me take a dip into the topic and some insights alongside.
Social media like Twitter are garnering more importance by the passing day. The hashtags, a predefined term, is becoming an important approach to pass a message. Kotak Mahindra Bank has understands this and that’s why they’ve launched Social Media Banking known as Jifi. This integration is a first-of-its-kind fully integrated social banking services.
Certificate of deposits or CDs is a money market instrument which is offered by few banks and financial institutions which provides investors to enjoy the highest interest rates in comparison of any other saving accounts. It is a promissory note issued by the bank against funds deposited by an investor. It is a negotiable money market instrument and can’t get less than of 5 months and can’t get exceed more than 5 year.
With growing modernization the work is getting simpler and easier. Banking being one of the vital part human lives cannot be expected to stay back. Taking revolution to a whole new level and diversifying the outlook of banking, ICICI Banks have introduced new integrated phone based banking service called “Pockets”. With the sole purpose of bringing mob-banking to a very different level, country’s first digital bank has been launched.
Few years back, India didn’t have its own mobile payment platform, but a Bangalore based company iKaaz made overcome the issue by launching an android app of mobile payment known as Mowa. No more, the users of the country needs to depend on the international app for receiving and making the payments as the app solves our problem by enabling us to do all this in much easier way.