Maha Shivratri Offer - Use Code SHIVRATRI24

Register Now

Banking and Financial Awareness October 2018: Week III

Published on Tuesday, October 23, 2018
Banking and Financial Awareness October 2018: Week III

OYO partners with payments platform PhonePe

  • For the ease of OYO users to book a room through the PhonePe app.
  • Enable all PhonePe users to access OYO’s quality offerings across 160 cities in India while maintaining the convenience and security of their payments through PhonePe.
  • PhonePe users can reserve a room at any OYO hotel in India by paying a token amount of Rs 99 upfront and paying the remaining amount later at the hotel.
  • PhonePe
    • Parent organization: Flipkart
    • CEO: Sameer Nigam 
    • Founded: 2015
    • Headquarters: Bengaluru
  • OYO Rooms
    • Founder and CEO: Ritesh Agarwal
    • Founded: 2011
    • Headquarters: Gurugram

IRCTC launched ‘Ask Disha’ Artificial Intelligence (AI) chatbot on its e-ticketing website

  • Designed for simulating conversation with users, over the internet.
  • The AI chatbot is powered by CoRover, a Bengaluru-based startup.
  • Chatbot is voice enabled and in the near future will support several regional languages.
  • Essential features of AskDisha 
    • ability to quickly answer to customer queries, 
    • provide round-the-clock customer support, 
    • ability to multitask, zero waiting time for query to get answered and overall ability to provide customer with stress-free experience and overall customer satisfaction.
  • Indian Railway Catering and Tourism Corporation (IRCTC)
    • Headquarters: New Delhi
    • Parent organization: Indian Railways
    • Founder: Ministry of Railways
    • Founded: 27 September 1999

RBI norms to facilitate payments between mobile wallets using UPI

  • For facilitating payments among prepaid instruments (PPI) such as mobile wallets, a move aimed at promoting digital transactions. 
  • Guidelines elaborate on requirements for achieving inter-operability for mobile wallets and cards, and norms for customer protection and grievance redresses. 
  • Interoperability of all KYC-compliant Prepaid Payment Instruments (PPIs) was to be enabled in 3 phases – 
    • issued in the form of wallets through Unified Payments Interface (UPI)
    • issued in the form of cards through card networks.
    • interoperability between wallets and bank accounts through UPI
  • Interoperability allows PPI issuers, system providers and system participants in different systems not only to undertake but also to clear and settle payment transactions across systems without participating in multiple systems.

RBI eases liquidity norms for banks

  • For Non-Banking Financial Companies (NBFCs), increased lenders' single borrower exposure limit to 15 per cent of capital funds.
  • From December 31, 2018, single borrower exposure limit has been increased from 10 per cent of capital funds.
  • Banks will be permitted to reckon Government securities held by them up to an amount equal to their incremental outstanding credit to NBFCs and Housing Finance Companies (HFCs).
  • Liquidity coverage ratio:
    • highly liquid assets that financial institutions need to hold in order to meet short-term obligations.
  • Reserve Bank of India
    • Headquarters: Mumbai
    • Governor: Urjit Patel

India’s 1st Cryptocurrency ATM Installed in Bengaluru

  • Installed by domestic bitcoin company Unocoin at the Kemp Fort Mall in Bengaluru.
  • To deposit or withdraw money, customers can use this ATM, which can then be used to buy cryptocurrencies from Unocoin’s website or mobile app.
  • Also plans to install two more ATM machines in Mumbai and New Delhi.
  • Unocoin:
    • CEO: Sathvik Vishwanath.
    • President & Co-founder: Sunny Ray.
    • Headquarters: Bengaluru.

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu