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The Industrial Credit and Investment Corporation of India (ICICI) was a government institution established on 5 January 1955 and Sir Arcot Ramasamy Mudaliar was elected as the first Chairman of ICICI Ltd. It was structured as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project ...
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [ 1 ][ 2 ] It is used on mobile devices to instantly transfer ...
High-yield savings rates for August 28, 2024. Today’s highest savings rates are at FDIC-insured digital banks and online accounts offering promotional rates of up to 5.50% APY with a minimum ...
RuPay credit card. Website. mohua.gov.in. National Common Mobility Card (NCMC) is an open-loop, inter-operable transport card conceived by the Ministry of Housing and Urban Affairs under Prime Minister Narendra Modi 's ‘One Nation, One Card' vision. [1] It was launched on 4 March 2019.
Airtel Payments Bank: 2017: New Delhi, Delhi ₹ 627 crore (US$75 million) [72] [73] India Post Payments Bank: 2018: New Delhi, Delhi: 650 Branches ₹ 55 crore (US$6.6 million) [74] Paytm Payments Bank: 2017: Noida, Uttar Pradesh ₹ 2,109 crore (US$250 million) [75] [76] Jio Payments Bank: 2018: Mumbai, Maharashtra ₹ 13 crore (US$1.6 ...
MIBOR (Mumbai Inter-Bank Offer Rate) is the overnight interest rate or reference rate based on the averaged interest rates at which Indian banks borrow unsecured funds from counterparties in the Indian rupee wholesale money market (or interbank market). [1] The rate was originally published by the Fixed Income Money Market and Derivative ...
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...
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