As per the latest news breaking in India, an official undertaking has been signed up for a Traffic MOU between HDFC and Jharkhand Government. This initiative has thus successfully included both of the India Government concepts: Cashless India and self-dependency.

HDFC Bank is currently working in accordance with the Jharkhand Government and both of them have signed a mutual MOU. This has been done so as to give some digital payment solutions to the traffic violators and all sorts of traffic defaulters.  The traffic fines and penalties can be thus be easily paid by this improvised solution. Under this MOU, HDFC will provide some digital solutions for payment to the transport department of Jharkhand. This method will be very transparent and direct. It is fairly enough to provide cut-to-cut information regarding the disobeying of any traffic rule.

HDFC (Housing Development Finance Corporation) is one of the best private banks in India, with a market capitalisation of more than 7 lakh crores!! This is undoubtedly the best blockbuster business deal. This collaboration is a concept of Digital India where the particular traffic controller or in general the traffic police, will be equipped with POS machines to charge the exact penalties. The penalties can also be paid by online payment through HDFC bank online payment facility. The MoU was signed here in the presence of the Transport Secretary – K. Ravi and the bank’s Circle Head, Abhishek Kumar on Thursday.