PIB Corner
SBI joins JPMorgan's Blockchain-based Payment Network
- State Bank of India has tied up with JPMorgan to use the US bank’s blockchain technology to speed up overseas transactions.
- The tie up is expected to reduce SBI customers’ transaction costs and time taken for payments.
- SBI has integrated Liink into its operations to exchange payments-related information with other financial institutions.
- The global bank’s blockchain technology -- Liink -- is meant for a peer-to-peer network, with financial institutions, corporates and fintech companies subscribing to it internationally.
- Globally, about 100 banks are now live on the network.
RBI Permits Residents to Make Remittances ....
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