Question: With the help of the Mumbai-based financial technology company The Mobile Wallet (TMW), Essar’s Nand Niketan Township, has become the first private sector colony of India to be cashless. Which bank operates this Wallet?
(a) HDFC Bank
(b) Citibank
(c) RBL Bank
(d) State Bank of India
Ans: (c)
Related facts:-
- On March 17, 2017, the Essar Group announced its Nand Niketan Township, located in Hazira, to become cashless.
- It is the first private sector colony of India to become cashless with the help of Mumbai-based Financial Technology Company, The Mobile Wallet (TMW).
- This wallet is operated by RBL Bank.
- So far, about 8,000 TMW-RBL prepaid cards have been issued to the employees, businessmen and shop owners in this township who are working in this premises.
- Thousands of digital transactions are being executed on an average of two lakh rupees per day through TMW.
Related Links:-
http://indiacsr.in/essars-hazira-township-goes-cashless-with-the-mobile-wallet/
http://timesofindia.indiatimes.com/city/surat/haziras-first-private-sector-township-to-go-cashless/articleshow/57694164.cms
http://www.moneycontrol.com/news/business/companies/essar-steels-hazira-township-in-surat-goes-cashless-2242145.html