News Analysis India

Tag: ICICI

  • Private sector banks to provide financial services in overseas procurement by Defence Ministry

    By PTI

    NEW DELHI: The defence ministry on Thursday allowed three private sector banks to provide financial services to it for overseas procurement of military hardware.

    The banks are HDFC Bank Ltd, ICICI Bank and Axis Bank.

    Till now, only authorised public sector banks were utilised to provide services like issuance of letter of credit and direct bank transfers to the ministry for overseas procurement.

    In line with further opening of allocation of government business to private sector banks by the department of financial services, the ministry has assigned three private sector banks to provide the LoC and direct bank transfer business for overseas procurement, an official release said.

    “The selected banks may be allocated with LC business of Rs 2,000 crore, each on the capital and revenue side, for a period of one year on concurrent basis (Rs 666 crore for each bank under both capital as well as Revenue),” the ministry said.

    “The performance of these banks will be monitored regularly so as to take necessary further action as required,” it said.

  • WhatsApp Payments Service Launched, Apps like Google Pay, Paytm to compete

    Messaging app WhatsApp has now made its payments service available across the country. Now 2 crore Indian users can avail this service. To start this service, WhatsApp, along with State Bank of India, HDFC, ICICI and Axis Bank, partnering app WhatsApp has now made its payments service available across the country. Now 2 crore Indian users can avail this service. To start this service, WhatsApp has partnered with State Bank of India, HDFC, ICICI and Axis Bank.

    Let us tell you that WhatsApp has designed its payments feature on the UPI system of National Payments Corporation of India (NPCI). Only last month, NPCI approved WhatsApp to start this service.

    With the introduction of WhatsApp Payments Service, apps like BHIM, Phone Pay, Google Pay, Mobikwik and Paytm will get a tough competition. So far, WhatsApp has 400 million users in the country.

    Abhijeet Bose, who heads WhatsApp in India, states that, “We have joined hands with State Bank of India, HDFC, ICICI and Axis Bank for easy and secure digital payments through WhatsApp. UPI is a revolutionary service, through which we They have got the opportunity to provide financial services to a large number of people. “

  • Now you can send and request money to your friends through WhatsApp

    Do you think that you can use only WhatsApp messages, then you are unaware of a big thing. Because social messaging app WhatsApp has also started its payment service in India. Through this service you can transact money with your relatives and friends. Let us know that WhatsApp has received approval from Payment Corporation of India (NPCI).

    WhatsApp will support transactions of more than 160 banks and has partnered with the country’s five leading banks ICICI Bank, HDFC, Axis Bank, State Bank of India and Jio Payments Bank. According to WhatsApp’s claim, payment through this platform will be very easy. So let’s tell you how you can use this facility.

  • Flipkart’s ‘Big Billion Days’ and Amazon’s ‘Great Indian Festival’: Here’s how to avail additional discounts

    With the festive season around the corner, e-commerce giants Flipkart and Amazon back with their festive sales. While Flipkart’s ‘Big Billion Days’ has already started, Amazon’s ‘Great Indian Festival’ is also set to return.

    The Big Billion Days sale began at 12am on October 16. However, for Flipkart Plus members, the sale began 24 hours in advance, at 12am on October 15. The sale will be a five-day affair and will last on October 21.

    While there are sharp discounts on products like consumer durables and smartphones, the e-commerce giant has tied up with banks to offer additional discounts to its customers.

    State Bank of India (SBI) customers will get a 10% discount for shopping during the Big Billion Day sale. For Flipkart Axis Bank credit cardholders, there is a 5% cashback every time it is used to make a purchase. Similarly, there is an ‘assured cashback’ for Paytm users when they make a purchase through UPI or wallet.

    There is also a ‘no-cost’ EMI offer. For this, Flipkart has tied up with SBI, ICICI Bank, HDFC and Bajaj Finserv.

    For those without a credit card, there is the option of Debit EMI card, which is being offered by HDFC, Axis Bank, Federal Bank, ICICI Bank, Zest Money etc.