RBI in final stages of retail CBDC pilot rollout

RBI in final stages of retail CBDC pilot rollout

The Reserve Bank of India (RBI) is in the final stages of the rollout of the retail central bank-backed digital currency (CBDC) that will be interoperable with the present forms of payment systems, people aware of the developments said. Officials indicated that the platform for CBDC is being hosted by the National Payments Corporation of … Read more

Union Bank reports net profit of Rs 341 crore in Q1

Union Bank reports net profit of Rs 341 crore in Q1

Amalgamation of Andhra Bank and Corporation Bank into Union Bank came into effect from April 1, 2020. State-owned Union Bank of India on Friday reported a consolidated net profit of Rs 340.95 crore for the first quarter ended June 2020. The bank had logged a net profit of Rs 230.12 crore during the same period of … Read more