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Current Affairs

DBS Bank Partners with TCIL

Current Context: DBS Bank has partnered with Transport Corporation of India Limited (TCIL) to grant real-time payment solution facility to the truck drivers with the help of DBS RAPID (Real-time Application Program Interface of DBS).
DBS Bank Partners with TCIL

  • DBS RAPID (Real-time Application Program Interface of DBS) is an API of DBS Bank which offers a solution to give and receive payments.
  • The bank has also set up Unified Payment Interface (UPI) which is based on real-time payment solutions and is made available to its customers for 24x7x365.
  • DBS RAPID is based under the support and guidelines of the National Payment Corporation of India (NPCI).
  • With the help of DBS RAPID, truck drivers will receive an instant credit into their accounts which they can swipe at the terminals or withdraw the cash using ATMs.
  • DBS RAPID has been also considered as a payment solution and adopted by Mahanagar Gas, Lykos, Herbalife and Zolo Stays.
  • It is recognized as Best Treasury and Finance Strategies in Asia-Pacific by Corporate Treasure.
  • Static Part: 
    • HQ of DBS Bank India Limited: Mumbai
    • HQ of TCIL: Gurgaon, Haryana

Question: 

Q.1 Which bank has partnered with Transport Corporation of India Limited (TCIL) to grant real time payment solution facility to the truck drivers? 
a. United Overseas Bank
b. DBS Bank
c. Citi Bank
d. Bandhan Bank
DBS Bank Partners with TCIL DBS Bank Partners with TCIL Reviewed by Neha Verma on June 05, 2020 Rating: 5

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