Latest News | Business Briefs Visa Working on Offline Payment Solutions

Mumbai, Aug 23 (PTI) Payments company Visa on Monday said it is working on an offline payments solution in India using which users can undertake transactions using chip-based debit, credit, and prepaid cards.

The company has tied up with Axis Bank and Yes Bank for the proof-of-concept study which will help make digital payments even in low or no connectivity places, an official statement said, adding a pilot for the same was carried out in Karnataka last year.

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ICICI Bank Germany announces launch of ‘blocked account' for students

1 *ICICI Bank Germany on Monday announced the launch of a “blocked account” for students wishing to study in the European country.

A blocked account is a special type of account wherein students are required to keep a certain amount of money in order to get a Balance Confirmation Certificate (BCC), a mandatory requirement for a Student Visa in Germany, an official statement said, adding banks authorised by German Federal Foreign Office can offer such services.

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Earlysalary's crosses over Rs 4,000 cr of disbursals, aims to touch Rs 5,000 cr by Dec

*Earlysalary on Monday said its disbursals have crossed Rs 4,000 crore and it is aiming for the same to touch Rs 5,000 crore by December.

The lending app for salaried individuals has expanded its presence in 27 Tier II and Tier III regions to meet the robust demand for credit solutions from the region, as per an official statement.

************** Vernacular.AI rebrands as Skit

*Vernacular.AI, a software as a service voice automation company, has rebranded itself as 'Skit'.

The 2016-launched company also opened its US headquarters in New York, as per an official statement.

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Yes Bank, WheelsEMI announce partnership for two-wheeler loans

*Private sector lender Yes Bank and WheelsEMI on Monday announced a co-lending partnership for two-wheeler loans.

The co-lending framework laid down by the Reserve Bank of India provides a collaboration tool that benefits from the low-cost funds of a Bank and the sourcing and servicing expertise of an NBFC, as per an official statement.

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Ruptok Fintech disburses Rs 60 cr loan

*Ruptok Fintech, a gold loan platform, on Monday said it has helped disburse over Rs 60 crore of loans to 1,400 customers.

It announced the launch of its operations in six cities including Jaipur, Vadodara, Surat, Pune, Nashik, and Hyderabad, and is aiming to disburse Rs 25 crore a month, as per an official statement.

************ CIL, subsidiaries continue to celebrate AzadiKaAmritMahotsav in different cities

*Coal India Ltd (CIL) and its subsidiary organisations continue to celebrate AzadiKaAmritMahotsav in different parts of the country with great zeal and enthusiasm by conducting a variety of programmes while also maintaining COVID-19 guidelines. During iconic events, different milestones of coal companies were highlighted amongst the stakeholders, the coal ministry said in a statement. The achievements of coal companies in the field of energy conservation, eco-restoration, sustainability, diversification, technological advancement, and digitalisation initiatives were brought out in the speeches of the CMDs of different subsidiaries and general managers of the areas.

(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)