Subscription for Sovereign Gold Bond Scheme 2021 Series III opens from May 31
In terms of GoI notification F.No.4(5)-B(W&M)/2021 and RBI press release dated May 12, 2021, the Sovereign Gold Bond Scheme 2021-22 – Series III will be open for subscription for the period from May 31, 2021 to June 04, 2021. The nominal issue price per gram of gold for off-line subscriber is Rs.4889 (Rupees Four thousand…
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National Payments Corporation of India (NPCI) and its products
NPCI is an umbrella organisation for operating retail payments and settlement systems in India, under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. It has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956…
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Investors in Sovereign Gold Bonds (SGB) 2015 to collect bumper returns
The RBI, in a statement yesterday, said the redemption price for the early redemption of SGB tranche-1 due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29 (May 30, 2021, is Sunday). This translates into an appreciation of about 80 percent over the issue price of ₹2,684 per unit…
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What is Unstructured Supplementary Services Data or USSD?
The state-of-the-art payment service *99# works on the Unstructured Supplementary Service Data (USSD) channel. This service allows mobile banking transactions using the basic feature of mobile phones, there is no need to have a mobile internet data facility for using USSD based mobile banking. The above service is intended to take the banking services to…
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Know all about NETC-FASTag
The National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the Indian market. It provides an electronic payment facility to customer to make the payments at national, state and city toll plazas by identifying the vehicle uniquely through a FASTag. All lanes…
What is BHIM App and how to use it?
BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). BHIM is built over the Immediate Payment Service (IMPS) infrastructure and allows the user to instantly transfer money between bank accounts of any two parties and encourage cashless…
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