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Showing posts with label Cash. Show all posts
Showing posts with label Cash. Show all posts

Tuesday, October 23, 2012

A new eProduct – Receive funds to your ICICI Bank Visa Debit Card


            If you are holding an ICICI Bank Saving Bank account, you must have received an email from Shri Kusal Roy, regarding the launch of a new eProduct.

            The ICICI Bank Visa Debit Card is all the information the overseas sender requires to remit money to the associated ICICI Bank Visa Debit Card.

The highlights are:
01) Completely cashless transaction.
02)Amount is credited without minutes
03)Works 24*7, as there is no human intervention once the Sender remits the money.
04)NIL charges for the beneficiary, as all the charges are paid by the sender.

The above Product is built around 'Visa Fast Funds’, product.

The following are the Terms and Conditions
01) This service is regulated by the RBI and the following rules apply:
02)Remittance can only be received for purpose of personal maintenance. Business and investment transactions cannot be routed using this service.
03)A single transaction cannot exceed the Indian Rupee equivalent of USD 2,500.
04)Not more than 30 transactions can be received in a calendar year. As an added measure of safety, ICICI Bank will restrict the service to 2 transactions per month per beneficiary.
05)ICICI Bank additionally maintains its own risk and security profiling systems and reserves the right to decline suspicious transactions.

Go ahead and unlock the potential of your power-packed ICICI Bank Visa Debit Card!

The product should attract many takers, as the funds move from the Sender to the Beneficiary very fast and the Beneficiary no additional authentication to withdraw the funds from his/her accounts.

Re-disseminated by Prashant N. Banker by daytime, Blogger by night.

Thursday, August 13, 2009


Steps to check Menace of Fake Notes-Explore Alternate Payment Modes.
Today i.e 12/08/2009, Reserve Bank of India, has released the Final Report of High Level RBI Group suggests Steps to check Menace of Fake Notes.
The Copy of the press note can be accessed at this link
The recommendations of this Report, when implemented, should reduce the fake notes menace in our country.
As a ePayment devotee, I am interested in the recommendation, that Alternate Modes of Payment need to be promoted.
One of the major recommendations of this RBI Group, to check the menace of fake notes is to promote the ePayments mode.
QUOTE 
(xi) RBI may take initiatives in promoting use of cards and electronic means of payment.
4.11 Alternate means of payment

RBI may take initiatives in promoting use of cards and electronic means of payment and encourage the installation of note detectors at places where large volume cash transactions are conducted.
4.10   Disincentivise the use of cash

Despite availability of various channels of payment systems, cash transactions form a major part of the Indian economy. It has to be recognized that processing of cash involves cost that has to be recovered. 
  
UNQUOTE
The Complete report can be accessed at
            The Posts on this Blog are an attempt to attract more and more Indians to the ePayments fold.
ePayments are faster, inexpensive, environment-friendly. Of course, the Users need to be aware of the security precautions for ePayments.
Come, be familiar with ePayments

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