Current Affairs - Banking

Dvara Money, a leading fintech company, has partnered with Jana Small Finance Bank Limited (Jana SFB) to enhance digital banking services. This collaboration aims to integrate third-party application providers and a Unified Payments Interface (UPI) solution into the Spark Money platform, revolutionizing digital banking standards.

Paymart, the fintech startup, has collaborated with five Indian banks to launch a virtual, cardless, and hardware-less cash withdrawal service. This initiative highlights Paymart's innovative approach to revolutionizing banking services through advanced technology solutions.

City Union Bank, under the leadership of Dr N Kamakodi, earned seven awards at the 19th Banking Technology Conference, Expo & Citations in 2023. These awards recognize the bank's outstanding performance across various technological domains, showcasing its commitment to innovation and excellence in banking services.

Nepal Rastra Bank collaborated with the Reserve Bank of India (RBI) to integrate UPI and NPI, facilitating cross-border remittances between India and Nepal. This agreement aims to streamline fund transfers, enhancing financial connectivity between the two countries.

The Reserve Bank of India (RBI) approved payment aggregator business to Juspay, Zoho, and Decentro, enabling them to operate in India's payments space.