Axis tool for cash transfer
Posted on 8th May 2015 |
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| Calcutta, May 7: Axis Bank will tap the rising demand for mobile-based payment solutions with an application called Ping Pay. The application will allow the bank's customers to transfer funds to any beneficiary on the user's contact lists, including on Whatsapp, Facebook and Twitter. This application, which is in addition to the bank's existing mobile application, will allow a person-to-person transfer of funds of up to Rs 50,000 using National Payment Corporation of India's Immediate Payment Service. Rajiv Anand, group executive and head retail banking at Axis Bank, said: "There is a growth in the number of customers who are using mobile phones for payment purposes. "The RBI and the Centre is looking to develop a cashless society. Also, the youth and smartphone users spend a lot of time on social media. So, we have decided to launch Ping Pay that allows instantaneous fund transfer. Unlike RTGS and NEFT, which are time bound, Ping Pay will allow users to transfer fund 24x7 for 365 days. The beneficiary will get a message/notification on the chosen social platform along with a link which when clicked on will ask to download the application and register along with necessary details. After the transfer, the beneficiary will have 15 days to claim the funds. In case the beneficiary does not claim the money, the transaction will be reversed. "At the moment only Axis Bank users can send money using Ping Pay, while non Axis Bank users will be able to use the app to ask for money from Axis Bank users," said Anand. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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