SBI partners with Ezetap Mobile to launch mPOS solution

1.    SBI partners with Ezetap Mobile to launch mPOS solution

i. State Bank of India has partnered with payments service provider, Ezetap Mobile Solutions, to deploy mobile point-of-sale (mPOS) solution.

ii. SBI plans to deploy 5,00,000 point-of-sale terminals within the next five years, it said in a release. "Mobile POS has the power to transform payments and commerce. It can be deployed easily and at low cost in every corner of the country," SBI's deputy managing director S K Mishra said.

iii. The SBI-Ezetap platform would allow the bank to provide value-added services for merchants and consumers from a single, secure POS device and application, he added.

Note: i. The Ezetap solution turns any merchant's mobile device into a point-of-sale that is able to read any type of card and complete any type of financial transaction ranging from a credit card sale to a real-time bill payment, to an ATM cash withdrawal or deposit.

ii. The mPOS solution will be made available to the customers of both SBI as well as its associate banks across the country.

2.    WPI inflation spikes to 6.01% in May

i. The wholesale price index-based inflation for May came in at 6.01 per cent, higher than 5.2 per cent in the previous month.

ii. This is also higher than the WPI-based inflation of 4.58 per cent recorded in May 2013.

iii. The Reserve Bank of India (RBI) has moved away from WPI inflation to consumer price index (CPI) inflation as the main anchor for monetary policy.

3.    Hockey: Australia beats The Netherlands 6-1 in World Cup title

i. Australia retained the men’s hockey World Cup title by outplaying Olympic silver medallists The Netherlands 6-1 in the final at the Kyocera Stadium here on Sunday.

ii. Chris Cirielo’s three penalty corner conversions was the feature of the contest that saw Australia retain the trophy they had won in New Delhi in 2010.

iii. The successive men’s World Cup title wins was a present the Australian team had promised to their coach Ric Charlesworth, who had won it as a player in 1986 and as a coach four years ago.

iv. Playing their fourth successive World Cup final, Australia made up for the disappointment of losing two successive summit showdown to Germany.

v. Before Australia clinched their second successive World Cup today, Germany were the only nation to have won two consecutive times.

4.    India announces concessions for Bhutan 

i. Seeking to push further the relationship with Bhutan, India on Monday announced a number of measures and concessions including the exemption of Bhutan from any ban on export of milk powder, wheat, edible oil, pulses and non-basmati rice. 

ii. The two sides also reaffirmed their commitment to their cooperative partnership and agreed to further promote trade and investment. 

iii. In a joint statement issued at the end of Prime minister Narendra Modi's two-day visit to that country, the two sides also noted that security was of mutual interest and "agreed not to allow each other's territory to be used for interests inimical to the other."
iv. The two sides recalled the free trade arrangement between them and the expanding bilateral trade and its importance in further cementing their friendship. 

v. The two leaders expressed satisfaction with the completion of the Supreme Court building and the imminent commencement of the construction of the Kholongchhu Hydro-electric Project.

5.  India wins opening ODI cricket match against hosts Bangladesh

i. India won their opening ODI against hosts Bangladesh by 7 wickets in Mir pur yesterday. 
ii. The visitors were given a revised target of 150 runs in 26 overs under the Duckworth-Lewis method after rain halted play for more than two hours. India made 153 for 3 in 24.5 overs and won the match.
iii. Electing to bat after winning the toss, the hosts made 272 for nine in the stipulated 50 overs.