Wed, Jun 28, 2017 | updated 02:32 PM IST

Adarsh Credit Cooperative Society welcomes RBI's move to open up UPI

Updated: Mar 20, 2017 11:25 IST      
Adarsh Credit Cooperative Society welcomes RBI's move to open up UPI

New Delhi [India], Mar 20 (ANI-NewsVoir): Digital wallets are set to be inter operable as Reserve Bank of India (RBI) prepares to open up the Unified Payments Interface platform as a part of government's digitization program. RBI is expected to issue guidelines shortly on interoperability and 'Know Your Customer' (KYC) norms for digital wallet companies.

Interoperability will allow direct money transfers to other digital wallet providers without having to go through a traditional bank.

As soon as RBI clears the norms and prescribes guidelines for it, it will become easier to transfer and pay money from one wallet to another wallet.

Adarsh Money, which already has a tie up with Oxigen Wallet can also be used to send money directly to a merchant with other digital wallets such as Paytm and MobiKwik, expanding the usability of Adarsh Money. This is a bold and encouraging step taken by RBI which will encourage more digital transaction among its users. Adarsh Money which already has a tie up with Oxigen digital wallet and is powered by strong technology and innovation which will bring more people to the digital system and help promotion of digitalization in India and is indeed a right step towards cashless economy.

"Traditionally banks have very less visibility in rural areas. Adarsh Credit Cooperative Society has played an important role in connecting rural masses with financial services with the help of its mobile money application popularly known as "Adarsh Money". Adarsh Money helps in digitalizing cash transactions in rural India. By Adarsh Money Application, we are providing doorstep facility in providing financial services so that people in rural areas do not have to go to a bank which is in far-flung area in cities.

Adarsh Money has played a pivotal role in financial inclusion in rural India and bringing down the use of cash transactions and also helped in lowering costs and improving transparency", says Rahul Modi, Managing Director of Adarsh Credit Cooperative Society.

'Adarsh Money' has been a revolutionary step in the co-operative sector providing financial transactions like money transfer, NEFT/RTGS to any bank account in India, mobile recharges and digital transactions. Adarsh Money also enables its user to accomplish all types of transaction which otherwise would have been possible only by visiting the branch of the society.

Adarsh Credit Cooperative Society has a base of 1.7 million members and this kind of transition in technology has been used by the first and only co-operative society in India. (ANI-NewsVoir)

New Delhi [India], June 28 (ANI): SAIC Motor Corporation Ltd. on Wednesday announced its plan to enter the Indian automobile market through a fully-owned car manufacturing facility in the country.

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New Delhi [India], June 28 (ANI): Macmillan Education, one of the world's leading publishers of English Language teaching and school curriculum materials, has today launched the ICAS programme for the Indian subcontinent. Currently 14,500 schools in over 20 countries participate in ICAS and over 8.9 million students are being assessed under ICAS globally.

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New Delhi [India], June 28 (ANI-NewsVoir): In an endeavor to ease out the immediate fund requirements of entrepreneurs, who are starved of institutional credit, Cash Suvidha is increasingly becoming a popular platform for hassle free unsecured loans.

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New Delhi [India], June 28 (ANI): Rajasthan's fastest growing NBFC licensed by RBI, Finova Capital has announced on-boarding Rahul Sahney and Anurag Agrawal as Chief Operation Officer and head of Credit and Operations at Finova Capital.

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Updated: Jun 27, 2017 18:44 IST     

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i2iFunding emerges as first P2P lending player

Updated: Jun 27, 2017 18:38 IST     

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Mumbai [India], June 27 (ANI-Newsvoir): Pushpanjali Realms and Infratech Limited, which is engaged in real estate development in Dehradun, Uttarakhand, is entering the capital market with its initial public offering. The issue, which will open on June 27, 2017 and will close on June 30, 2017.

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New Delhi [India], June 27 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed Finance Ministry's decision to delay the enforcement of tax collection and tax deduction at source under the Goods and Services Tax (GST).

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Adda52 announces release of Adda52 Rummy for Android

Updated: Jun 27, 2017 16:36 IST     

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SAP India, Govt to empower MSMEs with next-gen technology

Updated: Jun 27, 2017 16:31 IST     

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New Delhi [India], June 27 (ANI): The Reserve Bank of India (RBI) on Tuesday issued an advisory letter to banks asking them to incorporate additional provisioning on the 12 loan accounts to be referred to the NCLT (National Company Law Tribunal) under the Insolvency and Bankruptcy Code (IBC), reports Moneycontrol.

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Vishal Sinha appointed as CEO, CWT India

Updated: Jun 27, 2017 15:13 IST     

New Delhi [India], June 27 (ANI): Carlson Wagonlit Travel (CWT) on Tuesday appointed Vishal Sinha as the new CEO of CWT India, and will be based in the firm's head office in Gurgaon.

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Unicommerce Solutions are now GST-ready

Updated: Jun 27, 2017 14:27 IST     

New Delhi [India], June 27 (ANI-BusinessWire India): Unicommerce, India's leading SaaS-based multichannel order fulfillment platform showcased its Goods and Services Tax (GST) ready solutions for online sellers at an event on Saturday.

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New Delhi [India], June 26 (ANI): The Healthcare Federation of India (NATHEALTH) organized its second western roundtable meeting in Mumbai and deliberated on host of issues related to healthcare sector in India.

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New Delhi [India], June 26 (ANI-NewsVoir): Maharishi University of Information Technology, NOIDA celebrated the stellar performance of its students in the recently held Techgig Code Gladiators 2017 contest in Bangalore.

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