IndusInd Bank and Ripple Tie-up for Cross-Border Remittances

IndusInd Bank announced its partnership with Ripple (the enterprise blockchain solution for Global Payments) to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.

In 2017, India saw a total of $65 billion move into the country and IndusInd Bank which has significant interests in cross-border remittances, plans to harness the power of Blockchain technology for facilitating global payments.
Source- Moneycontrol

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • IndusInd Bank commenced operations in 1994
  • IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.