Online Fund Transfers

The India-Singapore payment connection is part of the trend in Asia where instantaneous, cross-border fund transfers via mobile phones are happening

At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone

TMS Ep127: Price rise, Colombo Port City, markets, IMPS

Will Russia Ukraine war driving up prices of everything? Can Colombo Port City be Sri Lanka's economic game changer? Hawkish Fed to cast a shadow on markets this week? What is IMPS? All answers here

Shetty is currently in India and trying to return to Dubai to take care of his businesses, but a travel ban issued by BoB has put paid to his plans.

No clarity yet on when countries will open borders for Indian tourists. On the domestic side, most of travel happening now is of essential and emergency nature

Freeing up such transactions were to give further impetus for such digital retail payments.

As per NPCI data, the number of transactions through IMPS crossed 100 million mark in March 2018 and touched a high of 120.4 million in June