CURRENT AFFAIRS

Detailed explanation-1: -Kotak Mahindra Bank (KMB), announced the launch of KayPay, the world’s first bank agnostic payment product for Facebook users to send money to each other in an instant (24*7).

Detailed explanation-2: -Kaypay is the Unified Payment Interface of Kotak Mahindra Bank. It is a bank agnostic payment application through which all your UPI-enabled bank accounts can be linked to receive or send funds in a safe and secure manner.

Detailed explanation-3: -India Post Payments Bank: Headquarters: New Delhi.

Detailed explanation-4: -It takes 1 working day to receive a wire transfer, and 1–3 working days to receive money sent by ACH. It usually takes 4–5 working days to receive money sent from outside the US, but it can take longer due to time differences, or multiple intermediary banks.