Three of India’s biggest private lenders – ICICI Bank, HDFC Bank and Axis Bank have taken stakes in the blockchain financial technology firm IBBIC Pvt Ltd. HDFC Bank and Axis Bank invested ₹5 lakh each for the shares. ICICI Bank also said it has subscribed to 49,000 fully paid-up equity shares of face value ₹10 each of IBBIC constituting 5.44 per cent of the issued and paid-up share capital. It paid ₹4.9 lakh for the shares.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About the IBBIC:
IBBIC was incorporated on May 25 this year as a financial technology company with the objective of providing a platform for exploring, building, and implementing distributed ledger technology (DLT) solutions for the Indian financial services sector. About 15 banks have come together to set up IBBIC, with an aim to expand the use of blockchain applications in financial sector transactions.
Did you know that some animals have brains so large that they can weigh several…
Did you know that some movies have made history by winning an extraordinary number of…
Kusunpur village in Kendrapada district of the Odisha is set to become the first smart…
Global clothing retailer Uniqlo has appointed the Indian fast bowler Jasprit Bumrah as its brand…
Indian animation film gained international recognition. This come after the animated short film CHYIMI won…
India has started orocess signing Terms of Reference (ToR) with the Philippines and Maldives to…