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Thursday 4 August 2016

Federal Bank ties up with US based payment company for faster international remittances

 
Kerala based private sector lender Federal Bank has tied up with Transfast Remittance LLC for facilitating online inward remittance to India in Rupees for their NRI customers based in USA. Transfast which is an omni-channel provider of cross-border payments solutions to consumers around the world. With this tie-up, the US-based NRI customers can transfer money instantly to their NRI account in India from their US bank account even by using Debit card/ Credit card. Customers can send money to India by creating an account on https://transfast.com/send-money-to-india or by downloading Transfast App in iOS/android mobiles.

AIIB approves first loans for projects in four countries

 
The China-led Asian Infrastructure Investment Bank (AIIB) has approved first set of loans totaling US 509 million dollars to finance projects in four countries viz. Bangladesh, Pakistan, Indonesia and Tajikistan. These loans for the four projects were approved in Board of Directors meeting of AIIB held at its headquarters in Beijing, China.

Projects approved:

Bangladesh: US 165 million dollars loan for a Power Distribution System Upgrade and Expansion Project.

 Indonesia: US 216.5 million dollars loan for a National Slum Upgrading Project. It is expected to be co-financed with the World Bank.

Pakistan: US 100 million dollars loan for Shorkot-Khanewal Section of National Motorway M-4. It will be co-financed with the Asian Development Bank 

Oracle India Joins SBI to Foster Digital Skills Initiative

 
Global software major, Oracle India has announced a corporate citizenship collaboration with State Bank of India (SBI) and launched the 'D-Change' programme which will support education and learning, women's empowerment and rural skills development in the country. The initiative will merge SBI's financial expertise and expansive reach with Oracle's technology leadership to help local communities drive substantial change and develop a skilled economy.

IRCTC's app ties-up with Mobikwik for e-cash payments

 
Mobile payments company MobiKwik and Indian Railway Catering and Tourism Corporation (IRCTC) have announced an exclusive partnership, wherein MobiKwik will power e-cash payments on IRCTC's e-catering app, Food on Track. The app allows passengers to book and get food from their preferred restaurants, delivered right at their train coaches. MobiKwik is also powering payments for IRCTC Connect, which allows users to book train tickets instantly.

West Bengal Cabinet cleared proposal to rename the state as “Bengal”

 

West Bengal Cabinet cleared a proposal to rename the state as “Bengal” in English and “Bango” or “Bangla” in Bengali. The word “Bengal” has the state’s culture and heritage associated with it and so it has been decided to change it. West Bengal Parliamentary Affairs Minister Partha Chatterjee said that a special session of the Assembly will be convened on 26 August to pass a resolution to this effect. 

Later, it will be sent to the Union Government for approval by the Parliament as changing of the name will require its approval. The decision was taken in line to the names of other states like Odisha, and cities like Mumbai, Bengaluru and Chennai. The other reason for changing the name of the state is that whenever there is any meeting of all states, West Bengal comes at the bottom of the list alphabetically.
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