December 2016 Current Affairs

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RBL Bank launches Aadhaar-based disbursement of micro loans

RBL Bank launches Aadhaar-based disbursement of micro loans
02 December 2016 Current Affairs: Private sector RBL Bank has launched 'Aadhaar Payment Bridge System' (APBS) for small ticket micro-finance loan disbursements. 

The bank said it is the first bank to launch the APBS on its platform and the intent is to meet the government's target on digital banking. 

This was achieved by doing the first successful cashless disbursement to various beneficiaries in the rural segment across the country .

The APBS system can now enable MFIs to disburse loan amounts directly in Aadhaar-enabled bank accounts through RBL Bank. 

It has been developed by NPCI mainly to process government subsidies or direct benefit transfer (DBT) to various government scheme beneficiaries. 

This unique idea of using an existing government platform for disbursing micro loans is a very big step in the direction of moving towards a cashless society in the rural segment .

The APBS also assumes significance at a time when cash availability in the market is actually crippled due to government's recent decision to abolish Rs 500/1000 banknotes from circulation to check black money and widen the tax base. 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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