Page 5 - Banking Finance November 2022

BANK UPDATE

Banking

HDFC Bank to hire 3,000 potential customers, providing a one- digitization of Kisan Credit Card (KCC)
stop solution for all their digital pay- lending, developed by the central bank
for 207 new branches in
ment needs. With over 4.5 million de- and its subsidiary Reserve Bank Inno-
Maharashtra vices deployed, Paytm remains the vation Hub (RBIH), aiming to speed up
market leader in offline payments. the loan turnaround time.
HDFC Bank will open 207 branches and
Paytm's EDC devices and All-in-One POS
80 smart banking lobbies in Commencing in September, the project
devices have revolutionised digital pay-
Maharashtra this financial year. It will entail automation of various pro-
ments in India with their flexibility of
plans to hire more than 3,000 employ- cesses within banks and integration of
accepting multiple payment methods.
ees across the state. their systems with the service providers.
The new branches will be spread The proposed digitization aims to make
Contactless credit card
across Maharashtra and will cover all it more efficient and reduce costs for
BOB Financial Solutions and Snapdeal
34 districts. As many as 90 of the borrowers.
in partnership with National Payments
branches will be located in metro and
Corporation of India (NPCI) and JCB In- "This pilot project on digitization of KCC
urban areas and the remaining 117 in
ternational Co. have announced the lending is expected to play a pivotal
semi-urban and rural areas, said,
launch of the Snapdeal BoB JCB RuPay role in facilitating credit flow to the
India's largest private lender in a press
Credit Card. The card is designed keep- unserved and underserved rural popu-
release.
ing in mind the purchase behaviour of lation by making the credit process
The smart banking lobbies, which are shopping enthusiasts and will offer a faster and more efficient. When fully
aimed at those customers who are digi- implemented, this has the potential to
host of attractive benefits and rewards.
tal-savvy, will be set up in 16 districts transform the rural credit delivery sys-
The card will also be usable at Interna-
and will be operational 24 hours and 7 tem of the country," RBI said.
tional merchants and ATMs through
days, HDFC Bank said.
the extensive JCB global network. Us-
India gets 4th set of Swiss
ers of the co-branded credit card will
Paytm, Jana SFB to deploy receive up to 5 per cent unlimited bank account details of its
cashback (accrued as 20 reward points
card devices nationals
on every Rs. 100 spent) on the
Paytm brand has partnered with Jana India has received the fourth set of
Snapdeal app and website.
Small Finance Bank to deploy card Swiss bank account details of its nation-
machines to further drive digitisation als and organisations as part of an an-
Kisan Credit Card lending
among merchants across the country. nual automatic information exchange
This partnership will enable Jana Small to be digitized under which Switzerland has shared
Finance Bank to extend Paytm's All-in- The Reserve Bank of India said it would particulars of nearly 34 lakh financial
one EDC machines to its existing and take up a pilot project for end-to-end accounts with 101 countries.
BANKING FINANCE | NOVEMBER | 2022 | 5