UPI 2.0 unveiled by RBI Governor Urjit Patel with enhanced features developed by NPCI
- Features are:
- invoice in the inbox,
- signed intent or QR,
- UPI mandate with blocking of funds
- UPI for overdraft account
- It will enable customers to check the invoice sent by merchant prior to making payment.
- This is for ensuring adequate importance on cybersecurity.
- UPI 2.0 member banks as on date are:
- State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, YES Bank, IDBI Bank, RBL Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
- National Payments Corporation of India
- Headquarters: Mumbai
- Founded: 2008
- Subsidiary: RuPay
Bharti Axa ties up with Airtel Payments Bank to offer Jeevan Jyoti Bima
- To reach deep rural pockets and serve the underinsured and to uplift financial inclusion.
- The product (PMJJBY) Rs 2 lakh life insurance cover for a nominal premium of Rs 330 per annum provided by Bharti Axa Life Insurance offers
- It can be purchased by all existing or new Airtel Payments Bank savings bank account holders between the ages of 18-50.
- Also purchasing this policy is secure, paperless and completely digital, ensuring convenience for consumers.
- Bharti AXA General Insurance
- CEO: Sanjeev Srinivasan
- Headquarters: Mumbai
- Founded: 2008
- Airtel Payments Bank
- CEO: Anubrata Biswas
- Founded: 2016
- Headquarters: New Delhi
India Ratings decreases growth forecast to 7.2% from 7.4% for FY19
- This is for Increasing crude prices and the government’s decision to fix the minimum support prices of all kharif crops at 1.5 times of the production cost.
- Private final consumption expenditure to grow 7.6% in FY19 compared to 6.6% in FY18.
- India Ratings developed a comprehensive credit analysis approach based on:
- An assessment of the relationship between the various tiers of government and an analysis of links between a public sector entity and sub-nationals.
- The appropriate balance between economic and financial criteria as well as between objective and qualitative factors.
- The fiscal deficit target of 3.3% would be met.
PhonePe partners with IRCTC app Rail connect to facilitate convenient, fast and secure payments
- For facilitating convenient, fast and secure payments through PhonePe on the IRCTC Rail connect Android app.
- This partnership, will boost digital payments across India.
- For quick and hassle free payments, users have the choice of using UPI along with all the other payment methods available on the app.
- PhonePe:
- CEO: Sameer Nigam
- Headquarters: Bengaluru
- Parent organization: Flipkart
SBI ranked as India’s most patriotic brand: Survey by UK based YouGov
- The survey was conducted between August 2 and 8 among 1,193 respondents in India which covered 152 brands across 11 categories.
- Around 16% respondents ranked SBI followed by Tata Motors and Patanjali (eight percent each), telcos Reliance Jio and BSNL (six percent each), and LIC and Amul (five percent each).
- State Bank of India
- Chairperson: Rajnish Kumar
- Headquarters: Mumbai
- Founded: 1 July 1955
