Latest News | Business Briefs Fino Payments Bank Goes Live with Enhanced Deposit Limits of Up to Rs 2 Lakh Per Account

Mumbai, May 5 (PTI) Fino Payments Bank on Wednesday said it has gone live with enhanced deposit limits of up to Rs 2 lakh per account, from this month.

It can be noted that last month, the RBI had doubled the day account balance limit to Rs 2 lakh for accounts in payments banks.

Fino's chief operating officer Ashish Ahuja said, “following RBI directive, we have updated our processes and systems and went live on 1st of May. The increased deposit limit allows our customers to save more money in their account.”

***************** IDBI Bank launches periodic KYC updation facility

*IDBI Bank on Wednesday launched a facility of periodic KYC updation through the Video based Customer identification process (V-CIP) saving customers the need to visit branches.

“The customers can initiate the process at their convenience through the V-CIP link available on the Bank's website. This is a completely contactless process,” its deputy managing director Suresh Khatanhar said.

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eNAM selects Kotak Mahindra bank as digital payments partner

*Kotak Mahindra Bank on Wednesday said it has been selected as a digital payments partner by the National Agriculture Market (eNAM), a pan-India electronic trading portal for farm produce.

Kotak will provide payment, clearing and settlement services on the platform, as per an official statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)