Correct Answer : SBI
The Ministry of External Affairs (MEA) and the State Bank of India (SBI) have formalized a Memorandum of Understanding (MoU) to integrate SBI’s payment gateway, SBIePay, with the eMigrate portal. This collaboration aims to bolster digital payment services for Indian migrant workers, recruiting agents, and users of the portal.
Integration Objective :
The integration seeks to expand the scope of safe and legal migration for Indian workers by enhancing digital payment options on the eMigrate portal. Launched in 2014, this portal facilitates transparent emigration processes, connecting foreign employers, registered agents, and insurance providers, thereby ensuring seamless migration under regulatory frameworks.
Key Features of the MoU :
Enhanced Digital Payment Services : The MoU enables the use of SBIePay on the eMigrate portal, allowing users to pay emigration-related fees conveniently. Payment options include UPI, credit/debit cards, and NEFT through net banking, with zero transaction charges for transactions made via these channels.
Operational Implementation : Following the successful integration of SBIePay, the enhanced digital payment service will be operational. This initiative aims to simplify financial transactions associated with overseas employment, promoting efficiency and compliance with emigration regulations.
Strengthening Migration Processes : By leveraging SBI’s robust payment infrastructure, the initiative underscores MEA’s commitment to ensuring secure and lawful migration pathways for Indian workers. This partnership is poised to streamline financial transactions critical to the emigration process, benefiting stakeholders involved in overseas employment.