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PhonePe inks partnership with ICICI Bank for UPI Transactions

Sumit Arora Last updated on March 12th, 2020 10:30 am Leave a comment

PhonePe inks partnership with private sector lender ICICI Bank for UPI transactions. PhonePe earlier partnered with Yes Bank, but after YES Bank has been placed under moratorium by Reserve Bank of India due to which UPI transactions at PhonePe got disrupted. The popular payment app had faced outage for nearly 24 hours after the Reserve Bank of India put a moratorium on March 5.

Important takeaways for all competitive exams:

The parent organization of Phonepe: Flipkart.
Phonepe founded: December 2015.
CEO of Phonepe: Sameer Nigam.
Headquarters location: Bengaluru, Karnataka.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.