DIGITAL BANKING Archive
Do Banks Offer Free ATM Transactions?
ATMs have become the face of digital banking in India. The Reserve bank of India (RBI) has stipulated minimum number of free ATM transactions to be provided by banks to their savings bank customers. This has been
17 Jan 19
CategoryBanking Awareness, Banking Products & Schemes, Digital Banking Products
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Automated Teller Machine –Services and Precautions
Automated Teller Machines were the first step in the digital journey of banking system in India. In a short span of time, ATMS became very popular. As of now, more than 2,40,000 Automated Teller Machines are deployed
16 Jan 19
CategoryBanking Awareness, Banking Products & Schemes, Digital Banking Products
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ATM – White Label & Brown Label ATMs
Automated Teller Machine (ATM) is a computerized machine that extends transaction facility to the customers of banks, without visiting branches. Customers can access their account, withdraw cash and carry out a number of other transactions by visiting
Real Time Gross Settlement (RTGS) & NEFT
RTGS stands for Real Time Gross Settlement. It is a system for fund transfer where the settlements are taking place on real-time in a continuous manner. Transactions are settled individually on a transaction by transaction basis. 'Real
20 Dec 18
CategoryBanking Awareness, Digital Banking Products, Everything About
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Features of PPIs:- Semi- closed, Open System, Gift and MTS
Prepaid Payment Instruments (PPIs) can be broadly classified under three types; closed, semi-closed and open system PPIs. Features of PPIs vary based on the type of PPI. Cash withdrawal is permitted only in the case of
Cross Border Transactions and PPIs
PPI (Prepaid Payment Instrument) is permitted to be used for cross border transactions for permissible current account transactions. A Cross Border Transaction or International Transaction is a transaction relating to international trade between two or more entities
Prepaid Payment Instrument(PPI) and Digital Banking
Prepaid Payment Instrument (PPI) is basically a payment card. The purpose of PPI is facilitating cashless transactions and hence is an important component of digital banking. Prepaid Payment Instruments facilitate purchase of goods and services against the
MOPAD-Multi-Option Payment Acceptance Device
MOPAD or Multi-Option Payment Acceptance Device is a POS terminal launched recently by the State Bank of India (SBI). The MOPED is the latest addition to the digital banking initiative by the largest bank in India. On
IndusInd Bank Nexxt Push Button Credit Card
Push Button Credit Card is a new innovation in payment card technology introduced in India by IndusInd bank. The card is launched by the bank as the IndusInd Bank Nexxt Credit Card. This is the first interactive
Initiative Q- Digital Banking Payment System in the Making
Initiative Q is a new payment system in the making. It has become a new buzzbord in financial sector. Initiative Q is in the early stages of establishment and the promoters expect to absorb and integrate the