CBDC is a national digital currency or digital form of fiat currency of a country.
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NEFT stands for National Electronic Fund Transfer is a centralised payment system of India.
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NPCI is an initiative of the Reserve Bank of India and Indian Bank Association in order to promote the digital payment and settlement system of India at retail level.
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It accepts demand deposits under current deposits, and savings bank deposits from individuals, small businesses and other entities.
It issues ATM / Debit Cards. Payments banks, however, cannot issue credit cards.
It makes payments and remittance services through various channels including branches, Automated Teller Machines (ATMs), Business Correspondents (BCs) and mobile banking.
It also provides internet banking services to the users.
It accepts remittances to be sent to or receive remittances from multiple banks under a payment mechanism approved by RBI, such as RTGS / NEFT / IMPS.
It undertakes other non-risk sharing simple financial services activities, not requiring any commitment of its own funds, such as distribution of mutual fund units, insurance products, pension products, etc. with the prior approval of the RBI and after complying with the requirements of the sectoral regulator for such products. -
General insurance, also referred to as non-life insurance, is related to insurance of properties, assets, real estate, gazettes, automobiles etc.
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Foreign investment refers to the investment made by the foreign individuals or corporations or government.
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Money laundering is the process of converting the illegally earned money into legal money
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The electoral bonds were introduced with the Finance Bill (2017).
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IPO stands for Initial public offerings. Initial public offerings refers to a method of offering public issues.