RBI Governor Launches 3 key Digital Payment Initiatives at Global Fintech Fest 2022

RBI Governor Launches 3 key Digital Payment Initiatives at Global Fintech Fest 2022

Daily Current Affairs   /   RBI Governor Launches 3 key Digital Payment Initiatives at Global Fintech Fest 2022

Change Language English Hindi

Category : Business and economics Published on: September 23 2022

Share on facebook
  • The Reserve Bank of India (RBI) Governor, Shaktikanta Das, launched three key digital payment initiatives at the Global Fintech Fest 2022.
  • The three digital payment initiatives that were launched by the RBI are RuPay Credit Card on Unified Payments Interface (UPI), UPI Lite, and Bharat BillPay Cross-Border Bill Payments.
  • Reserve Bank of India (RBI) Governor Shaktikanta Das launched the Rupay credit card on Unified Payments Interface (UPI) network. 
  • The move is likely to expand the credit market multi-fold.
  • Up until now, only debit cards were allowed to be linked with UPI.
  • Customers of Punjab National Bank, Union Bank of India, and Indian Bank will be the first to be able to use RuPay Credit Card on UPI with BHIM App.
  • The RuPay credit card linked with UPI will improve penetration in rural and semi-urban areas.
Recent Post's
  • LoIs issued to 4 foreign universities; ₹4,000 crore education projects announced at ABSS.

    Read More....
  • Kaziranga becomes India's third-highest tiger density reserve after Bandipur and Corbett.

    Read More....
  • St. Aloysius student sets world record with 170-hour Bharatanatyam performance.

    Read More....
  • Divyanshi wins U-19 WTT title; Priyanuj clinches gold in U-17 boys’ final.

    Read More....
  • Goa Shipyard launches 6th indigenous Fast Patrol Vessel, ICGS ATAL.

    Read More....
  • July 30 marked as World Day Against Trafficking with focus on criminal exploitation.

    Read More....
  • RBI caps investment in AIF schemes to 10% per bank/NBFC.

    Read More....
  • PM Modi releases ₹1,000 coin marking 1,000 years of Rajendra Chola’s naval campaign.

    Read More....
  • Death toll in Gaza crosses 60,000; over half are women and children.

    Read More....
  • Ex-Twitter CEO Jack Dorsey launches offline messaging app Bitchat.

    Read More....