CURRENT AFFAIRS

Detailed explanation-1: -Govt ropes in ICICI Bank to enable cashless payments on e-NAM.

Detailed explanation-2: -The government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with the national portal of electronic National Agriculture Market (e-NAM).

Detailed explanation-3: -IndusInd Bank has been directly integrated with e-NAM platform to provide safe and hassle free payments, clearing and settlement services to the farmers and traders.

Detailed explanation-4: -In cashless transactions, payments are made or accepted without the use of hard cash. This includes payments made via credit/debit cards, cheques, DD, NEFT, RTGS or any other form of online payment that removes the need for cash.

Detailed explanation-5: -The full form of ICICI is Industrial Credit and Investment Corporation of India. It was ICICI Bank’s parent organisation which had been incorporated in 2002 with ICICI Bank.