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Standard Chartered Bank launched ‘Unified Payments Interface’ (UPI) Solution

Standard Chartered Bank launched ‘Unified Payments Interface’ (UPI) Solution
11 November 2016 Current Affairs: Standard Chartered Bank has launched ‘Unified Payments Interface’ (UPI)solution for its corporate and financial institutional, and commercial banking clients.

This will enable clients to send and receive money using a Virtual Payment Address without entering additional bank account details. 

The bank said UPI allows real time ‘push and pull’ of funds, thus providing companies with a collections mechanism that can be used in multiple industries to ease the payment process for end customers. Instead of just sending payment reminders, companies can now collect funds by sending a ‘pull’ request which the end customer can authorise on his smart phone using a UPI app.


February 2017 Current affairs
27 FEB
NEWS
25 FEB
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24 FEB
NEWS
23 FEB
NEWS
22 FEB
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21 FEB
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January 2017 Current affairs
31 JAN
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30 JAN
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28 JAN
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27 JAN
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25 JAN
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December 2016 Current affairs
31 DEC
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30 DEC
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29 DEC
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28 DEC
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27 DEC
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November 2016 Current affairs
30 NOV
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October 2016 Current affairs
31 OCT
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