Axis Bank partners with Mastercard to launch NFC Soundbox
The new soundbox will act as an all-in-one solution that will allow the users to accept Bharat QR, UPI, Tap & Pay and Tap + Pin payments.
The new soundbox will act as an all-in-one solution that will allow the users to accept Bharat QR, UPI, Tap & Pay and Tap + Pin payments.
Highlighting the recent development, the Paymt said that the National Payments Corporation of India (NPCI) has granted approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model.
The company issued a release stating that One97 Communications has shifted its nodal account to Axis Bank via an escrow account that it has opened with it.
Axis Bank said on Thursday that it has obtained all necessary regulatory approvals in connection with the purchase of shares of Max Life Insurance with regard to the public interest writ petition filed by BJP leader Subramanian Swamy.
Insurance regulator, IRDAI has approved the capital infusion by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI.
The equity is acquired for a cash consideration of Rs 5 lakh, it said.
During the quarter, recoveries and upgrades from NPAs were Rs 2,543 crore, while write-offs were Rs 3,341 crore.
Prior to joining Axis Bank, Chaudhry served as MD and CEO of HDFC Standard Life Insurance Company.
Max Life's holding company Max Financial Services and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020.
The deceased got the financial help due to an MoU signed between BBMB with Axis Bank for the welfare of its employees.
