Vijay Shekhar Sharma appointed chairman of IAMAI payments banks group
Posted on:15 Apr 2016 14:45:33
15 April 2016 Current Affairs: Industry body Internet and Mobile Association of India, has appointed Paytm founder Vijay Shekhar Sharma, chairman of its the newly formed payments banks group. Vodafone India business head(M-Pesa)Suresh Sethi, will be the vice-chairman of the group. Payments Banks is an innovative model of bringing unbanked population into the formal banking fold. Paytm along with other license holders, would make financial services accessible for every Indian through this innovative route IAMAI, which includes global companies such as Google, Facebook and LinkedIn as members, also counts six out of the ten payments banks' primary licensees as members. The other four primary licensees have in principal agreed to join when they are in operation .The Reserve Bank of India had granted payment licences in August last year, to companies including Paytm, Reliance Industries, Bharti Airtel and Vodafone. The business potential from serving millions of unbanked Indians to further the financial inclusion initiative of the government and the Reserve Bank had attracted most of the top business houses.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail