CURRENT AFFAIRS

Detailed explanation-1: -India Post Payments Bank (IPPB) has tied-up with Financial Software and Systems (FSS) to create a better payment network that would include the unorganized retail sector for making payments through various modes of transactions.

Detailed explanation-2: -A committee headed by Dr. Nachiket Mor recommended setting up of ‘Payments Bank’ to cater to the lower income groups and small businesses.

Detailed explanation-3: -On April 11, 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). It intends to bring banking services to the doorstep of every citizen of the country. It plans to leverage Bharti Airtel?