Thu, Mar 23, 2017 | updated 05:43 AM IST

Citibank enables instant add-money to Paytm for its internet banking users

Updated: Nov 25, 2016 14:38 IST

New Delhi [India], Nov 25 (ANI): The Indian banking landscape has transformed rapidly in the last few years, driven by a combination of factors consumer's digital adoption, a progressive regulatory environment and visionary Government policies.

In its 2018 vision document, the RBI has emphasized that digitization of payments and moving to a less-cash society are its key priorities.

Citibank has been at the forefront of digital transformation in the country, having pioneered and introduced several innovations in the past few years.

Digitization has been a key strategic priority for Citibank, with over 95 percent its customer transactions being completed digitally.

Further, over 85 percent of credit card payments at Citi are done online, which is one of the highest in the industry. Over one third of Citi's customers are acquired online and this percentage has increased exponentially during the past few years.

Today Citibank, in partnership with Paytm introduces 'Wallet Add-Money' a simple and seamless mode for customers to load their wallets via Citibank's online and mobile banking platforms. Through this unique, market-first initiative, Citibank customers can securely add-money to their Paytm account in three simple steps, without the risk of exposing their confidential card credentials.

By introducing this simple and secure digital payment solution to its customers, Citibank has taken a significant step in accelerating digital adoption in the country and is re-affirming its support to the Government's vision of a less-cash society.

"Till date banks have treated Wallet service providers as competitors. We firmly believe that banks and service providers can collaborate to create unique digital solutions for customers. Our partnership with Paytm is a testimony to the customer-centric approach that leverages both our strengths. This is the first in the long list of exciting digital collaborations from us," said Country Business Manager Citibank India, Kartik Kaushik.

"This is a historic step where Paytm and Cititbank are joining hands to make add-money to Paytm wallet, a seamless process. Our users can add money to their wallet with a single click when they use Citibank's internet banking. We firmly believe such collaborations will give further impetus to mobile payments in our country," said senior vice president, Kiran Vasireddy. (ANI)

New Delhi [India], Mar 22 (ANI): EdgeMakers, the San Francisco headquartered company that has developed the world's first comprehensive learning system for Innovation and the related discipline of Entrepreneurship that is implemented at leading schools across the world, today announced that it plans to work with 10,000 students across 200 schools in Delhi, Mumbai, Hyderabad and Bangalore.

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Lok Sabha passes Finance Bill

Updated: Mar 22, 2017 18:20 IST

New Delhi [India], Mar 22 (ANI): The Lok Sabha on Wednesday passed the Finance Bill after various amendments presented by Union Finance Minister Arun Jaitley.

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New Delhi [India], Mar 22 (ANI): Samsung on Wednesday announced the launch of its flagship mobile payments service, Samsung Pay in India for simple and secure purchases almost everywhere with a swipe or tap using a debit or credit card.

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New Delhi [India], Mar 22 (ANI-BusinessWireIndia): Nourish You made a foray into the health food market with quinoa and chia seeds two years ago, becoming the first suppliers of these "superfoods" in the country. The company aims to further expand its product portfolio by introducing healthy snack options like health bars, cookies and quinoa pastas in the near future.

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New Delhi [India], Mar 22 (ANI): Union Finance Minister Arun Jaitley on Wednesday proposed to make Aadhaar mandatory for filing of the Income-Tax returns as well as for obtaining the Permanent Account Number (PAN), thereby allowing only cheque contributions to electoral trusts.

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New Delhi [India], Mar 22 (ANI-BusinessWireIndia): The Grand Challenges India (GCI) meeting was inaugurated at Ashok Hotel, New Delhi. The meeting is being hosted by Program Management Unit at BIRAC (PMU-BIRAC), jointly supported by Department of Biotechnology (DBT), Government of India; Bill & Melinda Gates Foundation and Wellcome. The meeting was inaugurated by the Union Minister for Science and Technology and Earth Sciences, Dr. Harsh Vardhan, and was attended by a large number of senior national and international dignitaries from various fields.

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RBI signs MoU with Central Bank of Nigeria

Updated: Mar 22, 2017 16:28 IST

New Delhi [India], Mar 22 (ANI): The Reserve Bank of India on Wednesday announced its Memorandum of Understanding (MoU) on "Supervisory Cooperation and Exchange of Supervisory Information" with the Central Bank of Nigeria

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New Delhi [India], Mar 22 (ANI-NewsVoir): Dr. Morepen Ltd., a wholly-owned subsidiary of Morepen Laboratories Ltd., has introduced a specialized therapy in the area of preventive cardiology and diabetology in a non-hospital environment for the first time in India.

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New Delhi [India], Mar 22 (ANI): FreeCharge on Wednesday announced promotion of Ankit Khanna to Chief Operating Officer of the company.

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New Delhi [India], Mar 22 (ANI): Credit rating agency ICRA on Wednesday estimated that total housing credit outstanding in India slowed down to 16 percent for the 12 months ending December 31, 2016 vis-a-vis 19 percent in FY2016 with the overall housing credit being Rs. 1 3.7 trillion as on December 31, 2016 (Rs. 12.4 trillion as on March 31, 2016).

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New Delhi [India], Mar 22 (ANI): India's leading online lending marketplace CoinTribe has announced a strategic alliance with SMERA Ratings Limited.

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New Delhi [India], Mar 22 (ANI): TIRUN, the exclusive India Representative of Royal Caribbean International is constantly on the lookout to offer Indian travelers more relevant cruise opportunities.

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New Delhi [India], Mar 22 (ANI): The decision on whether or not to impose import duty on wheat is under final stages of consideration of the Union Ministry of Agriculture and Farmers Welfare, a top official said at an ASSOCHAM event held in New Delhi today.

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New Delhi [India], Mar 22 (ANI): Online marketplace Snapdeal has announced that its recently launched GST Guru program has met with phenomenal response, with over 10,000 sellers accessing the program, within the first few weeks of its launch.

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New Delhi [India], Mar. 22 (ANI): Circle Creation Entertainment had launched the campaign to celebrate International Women's Day. Through this campaign women will get a chance to be the part of business consultation which is available for a year to the first 100 female entrepreneurs at a surprising fee of just Re.1.

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New Delhi [India], Mar 22 (ANI): In the session on 'Partnership in Progress: Indo- Canadian Co-Productions' at FICCI FRAMES 2107, the spotlight was on the mysteries associated with co-production. It provided an overview of what Canada has to offer as a co-production partner. No matter what the preferred partnership approach for carrying out your project, Canada has a great deal to offer.

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New Delhi [India], Mar 22 (ANI-NewsVoir): Melbourne based Monash University's Institute of Railway Technology (IRT) signed an agreement with DFCCIL (Dedicated Freight Corridor Corporation of India Limited), a state-owned corporation in India to assist with the establishment of a new research and development institute in India. The agreement was signed on March 16, 2017 in New Delhi, India.

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Delhi: Shell companies racket busted

Updated: Mar 21, 2017 22:23 IST

New Delhi [India], Mar. 21 (ANI): The Enforcement Directorate (ED) today produced Surendra Kumar Jain and Virendra Jain, before the Special Court after arresting them on March 20, for offences of money laundering using shell companies.

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New Delhi [India], Mar. 21 (ANI): The Reserve Bank of India (RBI) on Tuesday imposed a monetary penalty of Rs. 5, 00,000 on Eko India Financial Services Private Limited, in exercise of the powers vested under the provisions of section 30 of the PSS Act, 2007 for not adhering to RBI instructions and wrongful reporting.

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New Delhi [India], Mar. 21 (ANI): The Healthcare Federation of India (NATHEALTH) on Tuesday said that the National Health Policy (NHP) 2017, unveiled by the government clearly indicates that it has incorporated the recommendations of the apex healthcare sector body in terms of public spending, expanding of primary healthcare, private sector engagement digital health among others.

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