Which bank became the first bank in India to launch DigiPOS, a digital Point of Sale (POS) machine?

Introduction / Context:
Point of Sale (POS) machines are widely used for card based and digital payments at shops and service outlets. As India pushes towards a more digital payment ecosystem, banks have innovated with smarter POS solutions. DigiPOS is one such product, designed to provide digital payment acceptance in an easy and flexible way. This question asks which bank was the first in India to launch DigiPOS, and is a typical example of banking and technology based current affairs.

Given Data / Assumptions:

- The product is named DigiPOS, a digital Point of Sale solution. - The question is about the first Indian bank to launch DigiPOS. - The options are Yes Bank, HDFC Bank, ICICI Bank, and SBI.

Concept / Approach:
To answer correctly, you need to recall which bank branded its digital POS offering as DigiPOS. While many banks provide POS services, product names differ. Yes Bank was the first to introduce DigiPOS as a solution enabling merchants to use mobile phones and digital devices for accepting various types of payments. Linking the brand name DigiPOS with Yes Bank helps you remember the correct pairing.

Step-by-Step Solution:
Step 1: Focus on the product name DigiPOS and recall which bank promoted it in news and advertisements. Step 2: Remember that Yes Bank emphasised its digital and merchant friendly payment solutions under brand names that included DigiPOS. Step 3: HDFC Bank, ICICI Bank, and SBI have their own digital payment initiatives but were not identified as the first to launch DigiPOS specifically. Step 4: Cross check mentally with any reading you may have done from banking current affairs materials, where Yes Bank is associated with the DigiPOS launch. Step 5: Select Yes Bank as the correct answer.

Verification / Alternative check:
Verification can be done by visiting official press releases or financial news portals that covered the launch of DigiPOS. These sources clearly mention Yes Bank as the first Indian bank to introduce this specific product, highlighting features like acceptance of multiple digital payment modes and easy deployment for merchants.

Why Other Options Are Wrong:
- HDFC Bank: A major private sector bank with many payment solutions, but not credited as the first bank to launch DigiPOS. - ICICI Bank: Also a leading bank in digital payments, but associated with different brands for its POS solutions. - SBI: The largest public sector bank, with its own POS devices and apps, but not the first to launch DigiPOS under this name.

Common Pitfalls:
Candidates often assume that the largest or most famous bank must be the first to launch any new product. This leads to incorrect guesses such as SBI or HDFC Bank. To avoid this, pay attention to product brand names in your current affairs study and link them carefully with the correct bank, even if it is a relatively smaller private sector bank like Yes Bank.

Final Answer:
The first bank in India to launch DigiPOS, a digital Point of Sale machine, was Yes Bank.