Axis Bank has introduced two innovative, industry-first digital solutions at the recently held the Global Fintech Fest (GFF) event. The Bank launched ‘UPI-ATM’, an integrated Android Cash Recycler with Unified Payments Interface (UPI) technology for cardless cash withdrawal and deposits. It also launched ‘Bharat Connect (erstwhile BBPS) for Business’, in partnership with NPCI’s Bharat BillPay (NBBL). This will provide businesses a comprehensive solution to efficiently manage their working capital needs at various stages of the supply chain and streamline account receivables and payables.
Axis Bank was the first private sector banks in India to showcase a state-of-the-art cash recycler which leverages Android technology to deliver an intuitive and user-friendly experience. With its cutting-edge technology and user-centric design, the Android Cash Recycler will enable customers to perform both Interoperable Cardless Cash Deposit (ICD) and Interoperable Cardless Cash Withdrawal (ICCW) transactions using any UPI-enabled application. In addition to features, Android Cash Recycler will offer an extensive range of services such as account opening, credit cards issuance, deposits, loans, forex, FASTag and more, all on a single platform.
On the other hand, the introduction of Bharat Connect for the B2B ecosystem is an industry-first, that leverages the Bank's best-in-class Bharat Connect platform. This proposition will function as an interoperable, seamless, open loop ecosystem to facilitate and digitise flow of funds till the last mile. It will integrate multiple business applications for clients to streamline their accounts payables / receivables. This will enable entities to manage partner onboarding, orders (PO & invoicing), payments, working capital through invoice-based financing in a more efficient manner. The availability of financing within the ecosystem is a game changer and will yield significant benefits for clients. This pioneering initiative by Axis Bank marks a significant milestone in the evolution of digital banking in India.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
| Company Name | CMP |
|---|---|
| HDFC Bank | 1649.30 |
| ICICI Bank | 1236.00 |
| Axis Bank | 1058.60 |
| Kotak Mahindra Bank | 1738.20 |
| Indusind Bank | 971.95 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
