Current Affairs - Finance

Hitachi Payment Services introduced upgradable ATMs in India, providing banks with the flexibility to convert them into Cash Recycling Machines (CRMs) as needed. This initiative aims to enhance efficiency and adaptability in the Indian ATM industry, supporting future market demands and innovations.

Razorpay and Airtel Payments Bank have introduced the UPI Switch, a cloud-based infrastructure designed to revolutionize digital payments. This collaboration aims to enhance success rates, handle high transaction volumes, and address challenges in UPI infrastructure, promising businesses and consumers a more efficient and seamless payment experience.

India's Sovereign Green Bonds (SGrBs) are a type of green bonds specifically issued by the national government to fund projects with positive environmental and climate benefits, marking a significant step towards sustainable investment and financing initiatives.

CRED, the Bengaluru-based fintech start-up, has secured in-principle approval for a payment aggregator license, allowing it to facilitate merchant payments directly. This development expands CRED's services beyond reward-based credit card payments, enhancing its role in the digital payments landscape.

The Power Grid Corporation of India's board approved a plan to raise Rs 12,000 crore through the issuance of bonds in 2024-25. Power Grid is the largest electric power transmission utility in the country, operating a significant portion of the Inter-Regional networks.