Online Payment

Banking, is gearing up for an upheaval. The Reserve Bank of India gave nod to 11 entities among 41 applicants - including Govt. run department of posts, Reliance Industries and Aditya Birla Group, telecom bigwigs like Airtel and Vodafone, and different technology and finance companies - to set up ' payments banks ' in India. What are Payment Banks? A payments bank is a type of non-full service niche bank in India.  Payments banks will be able to accept deposits up to only Rs 1 lakh and they cannot grant loans as compared to the traditional and present world 'universal banks' or regular banks. The money can be deposited in government bonds. These payment banks can issue debit cards but not credit cards. Rest they can provide all the services of a universal bank. Payments banks will be largely depend and base on mobile and ATM infrastructure to offer transaction banking services. If you wish to open an account with any of these payment banks, it could be like p

Maharashtra MSEDCL Bill Payment Online 2.29 cr consumers made online payments of power bill in 2014 Nearly 2.29 crore consumers in the state of Maharashtra paid their power bills online and via Any Time Payment (ATP) machines last year. This is an increase of around 34 per cent of consumers since 2013 using these tech-savy ways to pay their electricity bills online. Maharashtra State Electricity Distribution Company Limited issued a statement in a release and said that a total of 1.26 crore consumers paid their bills through the online payment mode last year and the total collection was Rs 1,673.94 crore in the whole sate of Maharashtra. In the year 2013, 91.18 lakh consumers had paid their bills online which fetched a collection of Rs 1,222.08 crore, it said. 1.03 crore consumers paid their electricity bills through ATP machines last year leading to a collection of Rs 1,879.34 crore through it, whereas in 2013, the total payment made through ATP machines was Rs 1,558.90 crore