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Flywire has tied up with which India's largest private sector bank, to help students pay education fees at institutions around the world?
A)
ICICI Bank
B)
HDFC Bank
C)
Axis Bank
D)
Kotak Mahindra Bank

Correct Answer :   HDFC Bank


HDFC Bank Limited, India’s largest private-sector bank, announced 21st Nov 2022 that it has partnered with Flywire Corporation, a global payments enablement and software company, to enable Indian payers to pay international education fees to higher education institutions all over the world in a seamless and digital manner
 
* The integration simplifies the process of making high-value tuition payments for students and families while also assisting them in meeting LRS standards.
 
* HDFC Bank works directly with Flywire’s platform, giving Indian students a fully digital checkout experience for everything from application fees to tuition payments. 
 
* Students can pay in Indian rupees and enjoy a safe and simple payment experience, with the confidence that the funds will be delivered to the educational institution. 
 
* Similarly, institutions accepting payments through Flywire benefit from timely payments in local currency as well as full transparency into transaction history, which simplifies reconciliation processes and streamlines operational efficiencies.
 
* As the demand for international higher education experiences remains high, Indian students are becoming an increasingly essential group from which to recruit. 
 
* According to the 2022 Open Doors Report, approximately 200,000 Indian students studied in the United States during the academic year 2021-2022, a 19 per cent increase over the previous year.
 
* According to another ICEF report, the Indian outbound student population will expand to a broader range of host countries and more than double over the next few years, reaching 1.8 million students by 2024..

Source : BFSI

Published On : November 24, 2022
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