Federal Bank has launched Rupay brand debit card. ‘Rupay’ is the card scheme launched by the National Payment Corporation of India to offer a domestic, open loop and multilateral system which will allow all Indian banks and financial institutions in India to participate in the electronic payments market. Further, the debit card would be accepted on over one lakh ATM’s of national financial switch member banks in the country.
Rupay would also make an environment whereby payment information of the country remains within the country which will be beneficial for both the bank and customers by means of reduced settlement cost. Since the Rupay transaction processing will happen domestically, it would lead to lower transaction cost for Federal Bank compared to international schemes.
Federal Bank is the fourth largest bank in India in terms of capital base and can easily boast of a Capital Adequacy Ratio of 17.23%, one of the highest in the industry. This along with the existence in a highly regulated environment has helped the bank to tide over the recession with minimum impact to its financial stability.
Company Name | CMP |
---|---|
HDFC Bank | 1507.85 |
ICICI Bank | 1102.25 |
Axis Bank | 1159.70 |
Indusind Bank | 1460.00 |
Kotak Mahindra Bank | 1693.85 |
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