HDFC Bank launches pilot for offline digital payments in poor connectivity areas

HDFC Bank launches pilot for offline digital payments in poor connectivity areas

Daily Current Affairs / HDFC Bank launches pilot for offline digital payments in poor connectivity areas

Change Language English Hindi

Category : Business and economics Published on: February 16 2023

Share on facebook

HDFC Bank has started a pilot project to enable digital payments in the offline mode under a regulatory facility.
HDFC Bank has started the offline digital payments pilot project in partnership with Sweden-based Crunchfish AB, India’s IDFC Bank and M2P Fintech. The pilot is happening under the fourth cohort of the Reserve Bank of India (RBI) regulatory sandbox.
The fourth cohort was themed ‘On Tap’ for retail payments.
HDFC’s product is called ‘Offline Retail Payments’. With that, the private bank enables customers and merchants to pay and receive payments in offline mode.
The lender will roll-out this service as part of a limited pilot for four months in more than 16 cities and towns across the country. The offline transaction amount would be limited to up to ₹200 per transaction.

Recent Post's

International Civil Aviation Day on 7 December highlights the global importance of air transport and ICAO’s new 2026–2050 plan for safe and sustainable aviation as passenger numbers may reach 12.4 billion by 2050.
Read More....
Three-year-old Sarwagya Singh Kushwaha from Madhya Pradesh became the youngest player in history to receive a FIDE chess rating, debuting at 1572.
Read More....
Under the National Mission on Edible Oils, India has expanded oil palm coverage to 6.20 lakh hectares by November 2025, moving towards self-reliance in edible oil production.
Read More....
International Anti-Corruption Day on 9 December marks global commitment to the UN Convention against Corruption, which came into force in 2005.
Read More....
India sent four additional Navy ships carrying 1,000 tons of relief material to cyclone-hit Sri Lanka under Operation Sagar Bandhu.
Read More....
IMF has recognized India’s UPI as the world’s largest real-time payment system, accounting for nearly 49% of global instant transactions.
Read More....
Renowned labour rights activist Dr. Baba Adhav passed away at 95 after decades of work for unorganised sector workers in Maharashtra.
Read More....
India Post opened Kerala’s first Gen-Z–focused Post Office extension at CMS College, designed jointly by students and postal officials.
Read More....
The US and Rwanda signed a $228 million five-year health partnership focusing on HIV, malaria, surveillance, and digital health systems.
Read More....
RBI announced ₹1,00,000 crore OMO purchases and a $5 billion USD/INR swap to ease liquidity pressure in the financial system.
Read More....