Banks and their UPI apps

Sl.No.Bank NameApp Name
1Allahabad BankAllahabad Bank UPI
2Andhra BankAndhra Bank ONE
3Axis BankAxis Pay
4Bank of BarodaBaroda MPay
5Bank of MaharashtraMAHAUPI
6Canara BankCanara Bank UPI - Empower
7Catholic Syrian BankCSB UPI
8Central Bank of IndiaCent UPI
9DCB BankDCB Bank
10Dena BankDena Bank E-UPI
11Federal BankLotza
12HDFC BankHDFC Bank MobileBanking
13HSBCHSBC SimplyPay App
14ICICI BankPockets- ICICI Bank
15IDBI BankIDBI PayWiz
16IDFC BankIDFC Bank UPI App
17Indian BankIndian Bank UPI
18IndusInd BankIndus Pay
19Karnataka BankKBL Smartz
20Karur Vysya BankKVB Upay
21Kotak Mahindra BankKayPay
22Oriental Bank of CommerceOBCUPI PSP
23Punjab National BankPNB UPI
24RBL BankRBL Pay
25South Indian BankSIB M-Pay (UPI Pay)
26State Bank of IndiaSBI Pay
27Syndicate BankSynd UPI
28TJSB BankTranZapp
29UCO BankUCO UPI
30Union Bank of IndiaUnion Bank UPI
31United Bank of IndiaUnited UPI
32Vijaya BankVijaya UPI App
33Yes BankYes Pay

Understanding Unified Payment Interface (UPI)

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank). Launched by the National Payments Corporation of India you can say its a advanced form of IMPS.UPI is a payment system which facilitates the fund transfer between two bank accounts. This payment system works on the mobile platform. Sending money through the UPI app is as easy as sending a message. With an UPI app allows you to transfer money directly from one bank account to another bank account without the need of having any eWallet app or providing yout bank account details like account number of Ifsc number. Here is a list of banks currently supporting UPI. Download the UPI app of your respective bank. Generate your Virtual Payment Address (VPA) such as abc@sbi or xyz@icici and start sending or receiving payments direct from and to your bank account.

 

10 Things You Need to Know About New Banking Transaction Rules

HDfc Bank Icici Bank Axis Bank Transaction fees charges

Some banks including like HDFC bank , ICICI bank and Axis bank have begun charging a minimum amount of Rs. 150/- per transaction for cash deposts as well as withdrawls beyond four free transactions in a month. The charges are being raised so that more and more people move towards digital transactions.

Here are the 10 things to know :

1. HDFC bank, Axis bank, ICICI Bank will be charging Rs. 150/- beyond the limit of four free transactions in a months (including deposits and withdrawals).
2. Senior citizen are free from any such charges
3. According to HDFC bank such charges would be effective from 1 March 2017 onwards and would apply to all saving and salary account holders
4. ICICI Bank had reintroduced the cash transaction charges at bank branches from January 1, 2017. There will be no charge for first four transactions a month at branches in home city while thereafter Rs. 5 per Rs. 1,000 would be charged thereafter subject to a minimum of Rs. 150.
5. For non-home branches, ICICI Bank would not charge anything for first cash withdrawal of a calendar month and Rs 5 per thousand rupees thereafter subject to a minimum of Rs 150.

6. At ICICI bank The third party limit would be Rs. 50,000 per day.
7. For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits.
8. The charges for withdrawing money from automatic teller machines (ATMs) remain unchanged.
9. At Axis Bank, the first five transactions or Rs. 10 lakh of cash deposits or withdrawals would be free and charged at Rs. 5 per thousand rupees or Rs. 150, whichever is higher.
10. Till now there is no clarification whether the public sector banks have also begun imposing such charges.

Pradhan Mantri Jan Dhan Yojan (PMJDY)

Pradhan Mantri Jan Dhan Yojna is a National level wide scheme launched in 2014 by the Government of India. This scheme givers financial inclusion to everyone ensuring access to financial services like banking, remittance, credit, insurance, pension in an affordable manner. This scheme was launched by the Prime Minister of India Narendra Modi on 28th August 2014.

THe purpose of this scheme was to provide universal and clear access to bank facilities starting with basic banking with overdraft faciltiy of Rs. 5000/- after six months and a RuPay Debit card facility with built in accident insurance of Rs. 1 lakh.

Jan Dhan Yojna Image

Pradhan Mantri Jan Dhan Yojan Scheme Includes :

  1. Account holders will be provided bank accounts with no minimum balance
  2. RuPay Debit cards will be issued
  3. Accidental Insurance cover of Rs. 1 lakh.
  4. Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.
  5. The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
  6. Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
  7. Easy Transfer of money across India.

Documents required to open an account under Pradhan Mantri Jan-Dhan Yojana

  • If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self certification of current address is sufficient.
  • If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as “Proof of Identity and Address”.
  • If a person does not have any of the “officially valid documents” mentioned above, but it is categorized as ‘low risk’ by the banks, then he/she can open a bank account by submitting any one of the following documents:
    • Identity Card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
    • Letter issued by a gazette officer, with a duly attested photograph of the person.

List of banks offering Pradhan Mantri Jan Dhan Yojana

There are various public and private sector banks in India that provide the Pradhan Mantri Jan Dhan Yojana scheme. Listed below are the names of public and private sector banks offering the PMJDY scheme:

Private sector banks offering the PMJDY

  • HDFC Bank Ltd.
  • ICICI Bank Ltd.
  • YES Bank Ltd.
  • Karnataka Bank Ltd.
  • Kotak Mahindra Bank Ltd.
  • Axis Bank Ltd.
  • Dhanlaxmi Bank Ltd.
  • Federal Bank Ltd.
  • IndusInd Bank Ltd.
  • ING Vysya Bank Ltd.

Public sector banks offering the PMJDY

  • Andhra Bank
  • Bank of Baroda (BoB)
  • Bank of India (BOI)
  • Allahabad Bank
  • Vijaya Bank
  • Central Bank of India
  • IDBI Bank
  • Syndicate Bank
  • Punjab National Bank (PNB)
  • Union Bank of India
  • Indian Bank
  • Corporation Bank
  • Bank Of Maharashtra
  • Canara Bank
  • Oriental Bank of Commerce
  • Punjab & Sind Bank
  • Bhartiya Mahila Bank
  • Dena Bank
  • State Bank of India (SBI) and all its 5 affiliated banks which include – State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner & Jaipur, State Bank of Travancore and State Bank of Patiala.