It is in the news that Department of Posts has started procuring digital handheld terminals to transform various services especially electronic money order service, which will be made available in more than 70 percent of post offices that is around 1.55lakh post offices in India, by the end of this year.
IRCTC RuPay debit card is an addition to the cashless payment system. It is launched by National Payments Corporation of India (NPCI) and is the first payment gateway system in India. The card is offering both virtual and physical options for the customers. It is in the line of Visa or MasterCard. The card is now can be used to make bookings and made payments for booking in rail.
Norway, Sweden and few other countries are smaller than India but have already implicated the cashless system in full effect. Now here’s lie the logic that a big country, specifically a subcontinent, like India can’t go cashless completely.
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.
Now Bitcoin wallet mobile app, Zebpay app has been launched in India, for Android, which can make transaction like buying, selling and investing much simpler in the crypto currency. With growing modernization the work is getting simpler and easier and with the first mobile Bitcoin wallet in India is going to be simplest in the world.
Ola is India’s leading mobile app for Intermediary Personal Transportation (IPT). About six months ago Ola launched auto booking through its app. There is, currently, over 40,000 autos are registered on the app and that’s too extended over pan-India. Now the cashless ride is an added feature to this app.
PayTM, Delhi NCR based largest mobile commerce player enabled IMPS transfer service. With this PayTM users can transfer money from PayTM mobile wallet to any of the bank account in India. PayTM also announced plans to open about 50,000 retail outlets where over 25 million Paytm users will be able to load cash in their mobile wallets.
Mobikwik Mobile wallet assures a customer by letting him or her to transact by using his or cell phone. The pin and other id details remains classified with customer as he or she is not sharing on a payment gateway, but, on the personal cell phone.
On Thursday, Railways Minister, Suresh Prabhu, Introduced his first budget in the Parliament. No rise in the passenger rail fares caught the limelight. With others there were so many new points added that it brought out both, good and bad responses from people as well as opposition. Mr. Prabhu made it very clear with the budget that this year it would be all about rectifying faults and replacements and repairs but no new trains this year. He completely focused on the modernizing old networks and improving facilities for millions of consumer.
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.
This January saw a new ray of hope for girls as Prime Minister Narendra Modi, introduced a small deposit scheme, Sukanya Samriddhi account under Beti Bachao, Beti padhao campaign. The best art being not the scheme itself but the reason behind introducing such a scheme.