CURRENT AFFAIRS

Detailed explanation-1: -Notes: Rural NEO Bank Mahagram has tied up with the IndusInd Bank to digitize the nation’s payment ecosystem and provide a wider scope to transact for its customers in rural India. Mahagram was launched with a vision to transform India into a digitally empowered society and knowledge economy.

Detailed explanation-2: -Mahagram has signed a partnership with the IndusInd Bank, a new-generation Indian bank to digitise the country’s payment ecosystem and provide a wider horizon to transact especially for its customers in rural India.

Detailed explanation-3: -319, Sarita A, Prabhat Industrial Estate, WEH Highway, Dahisar East, Mumbai, 400068.

Detailed explanation-4: -UPI: Revolutionizing Digital Payments Launched in 2016, it has emerged as one of the most popular tools in the country for carrying out digital transactions. UPI is an instant payment system developed by the National Payments Corporation of India (NPCI).

Detailed explanation-5: -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.