MoU signed for digital payment aggregation services by integration of SBIePay, eMigrate: MEA
This agreement would "further facilitate and enhance the ambit of safe and legal migration of Indian migrant workers".
The Ministry of External Affairs and the SBI have signed an MoU to provide an additional digital payment service of the bank through its payment gateway SBIePay to users of the eMigrate portal, including Indian migrant workers and recruiting agents, officials said on Saturday.
This agreement would "further facilitate and enhance the ambit of safe and legal migration of Indian migrant workers", according to a statement issued by the ministry.
Since its launch in 2014, the eMigrate project has been assisting Indian workers going to emigration check required countries for employment by making the emigration process online and transparent, and to bring foreign employers, registered recruiting agents and insurance companies issuing the Pravasi Bhartiya Bima Yojna on one common platform to facilitate seamless, safe and legal migration, it said.
The portal also has a mechanism for voluntary registration of emigrants holding ECNR category passports proceeding for overseas employment, the Ministry of External Affairs (MEA) statement said.
The Memorandum of Understanding (MoU) was signed by Bramha Kumar, Joint Secretary (OE & PGE) on behalf of the ministry and Neelesh Dwivedi, General Manager (NW-I), from the SBI's side at the Sushma Swaraj Bhawan here.
The MoU seeks to "provide an additional digital payment services of the SBI through payment gateway called SBIePay to Indian migrant workers, recruiting agents and other users of the eMigrate portal ( https://emigrate.Gov.In)", it said.
It will be operational soon after successful integration of the SBIePay with the eMigrate portal, the officials said.
"Through implementation of this MoU, payment of various emigration related fee would be possible with NIL transaction charges for payment through UPI, credit/debit cards and NEFT through net banking of all Indian banks. Signing of this MoU would further facilitate and enhance the ambit of safe and legal migration of Indian migrant workers," the statement said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
02:24 PM IST