Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels

Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels https://www.taxtmi.com/news?id=24344 Public sector banks now conduct the majority of transactions through digital channels while the Reserve Bank of India retains sole authority on banking licences and is not considering a separate digital bank category. Under PSB EASE Reforms, mobile and internet banking services, customer features and regional language interfaces have been expanded; end to end automated digital lending and digital retail loan initiation have been enabled in larger PSBs; analytics based credit offers and substantial digital disbursements have been supported. Additional measures include online life certification for pensioners, contactless loan approval via data triangulation, and PSB onboarding onto the TReDS platform for MSME bill discounting. en-us Tue, 10 Aug 2021 19:06:53 +0530 Tue, 10 Aug 2021 19:06:53 +0530 TaxTMI RSS Generator Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels https://www.taxtmi.com/news?id=24344 Public sector banks now conduct the majority of transactions through digital channels while the Reserve Bank of India retains sole authority on banking licences and is not considering a separate digital bank category. Under PSB EASE Reforms, mobile and internet banking services, customer features and regional language interfaces have been expanded; end to end automated digital lending and digital retail loan initiation have been enabled in larger PSBs; analytics based credit offers and substantial digital disbursements have been supported. Additional measures include online life certification for pensioners, contactless loan approval via data triangulation, and PSB onboarding onto the TReDS platform for MSME bill discounting. News - Tue, 10 Aug 2021 19:06:53 +0530 https://www.taxtmi.com/news?id=24344