If we believe SBI report on the matter, then RBI has held back around Rs 2.4 lakh crore worth of Rs 2000 currencies, as smaller denominations of Rs 500 and Rs 100 have been flooded in the market.
South Indian Bank, which has major presence in Middle East & African countries, will now use blockchain technology for faster overseas remittance & payments
Infosys has just released a comprehensive banking solution package, Finacle Trade Connect, which uses blockchain for performing major banking operations.
Axis Bank has partnered with Ripple to use blockchain for instant cross-border money transfer mechanism, a process which takes up to 3-4 days in India.
After demonetization last year, cheques, along with netbanking and debit/credit cards, and mobile wallets had become a major tool for financial transactions
These new initiatives by SBI are part of products & solutions under Bankchain - a consortium of 27 banks, who have resolved to use blockchain technology.
Moody’s have upgraded India's credit rating for 1st time in 14 years & have credited the ongoing economic reforms initiated by the present Government for it
Jio has partnered with SBI for their Jio Payments Bank. Jio is looking to leverage SBI's massive infrastructure and experience in order to get a good start.
Quick Heal's Enterprise Security brand Seqrite, reported an advertisement on the Darknet offering crucial data from leading Govt. and private organizations!
The reason is convenience fee and MDR, which is charged from the customer. IRCTC wants a portion of that, and banks are refusing to give that.