Indian Bank jumps on introducing QR code bill payment system for CESC
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Indian Bank is currently trading at Rs. 287.95, up by 3.20 points or 1.12% from its previous closing of Rs. 284.75 on the BSE.
The scrip opened at Rs. 287.90 and has touched a high and low of Rs. 290.50 and Rs. 284.30 respectively. So far 46007 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 306.00 on 14-Dec-2022 and a 52 week low of Rs. 130.15 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 295.95 and Rs. 269.10 respectively. The current market cap of the company is Rs. 35999.48 crore.
The promoters holding in the company stood at 79.86%, while Institutions and Non-Institutions held 14.69% and 5.45% respectively.
Indian Bank has unveiled QR code bill payment system for Chamundeshwari Electricity Supply Corporation (CESC) making it as the first power distribution company to offer such an initiative to customers in Mysuru. By using the dynamic QR code linked to the unified payments interface (UPI) on printed electricity bill, customers would be able to make their payments without visiting any online portal or physically going to any payment centre. Instant acknowledgement is issued and the QR code is disabled once the transaction is completed.
The CESC is in the process of introducing a new type of bill generation and payment system in coordination with Indian Bank besides a facility to make RTGS-NEFT payments for bulk consumers using virtual account number (VAN).
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.
