CURRENT AFFAIRS

Detailed explanation-1: -This is the official mobile banking application from South Indian Bank with Unified Payment Interface (UPI) now available for all Bank Customers. Welcome to the world of mobile convenience! SIB M-Pay is South Indian Bank’s mobile banking product, which offers you a complete range of financial transactions.

Detailed explanation-2: -SIB M-PAY UPI-One App for all your accounts and all your payments!! UPI module will be available in the new update of SIB M-Pay application. Through SIB M-Pay, you can access and do transactions/payments from your SIB accounts and other Bank accounts anytime, anywhere you want.

Detailed explanation-3: -Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI). The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.

Detailed explanation-4: -BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, it is intended to facilitate e-payments directly through banks and encourage cashless transactions.