National Payments Corporation of India (NPCI), the umbrella organisation for all retail payment systems in India, has taken up a project to work with State Bank of India and Utkal Grameen Bank in transforming one of the panchayats in Odhisha as less-cash or “cash-lite” panchayat.
The Panchayat of Karangamal, in the district of Naupada in Boden Block, has been identified for the purpose.
The panchayat comprises of five villages where a week-long campaign has started to spread digital awareness.
NPCI’s initiative will boost the digital payments ecosystem through various modes and channels of payments such as USSD based *99#, Bharat Interface for Money (BHIM), Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay card and Aadhar Enabled Payment System (AePS).
NPCI has partnered with MicroSave, an international consulting firm for digital financial inclusion to design the program of transforming villages.
National Payments Corporation of India (NPCI) is an umbrella organization for all retail
payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
MicroSave is a leading international consulting firm that offers practical, market-led
solutions focused on enhancing access to financial services to the low and middle-income segments. It offers consulting services in the domains (areas) of Digital Financial Services (DFS); Inclusive Finance and Banking; Micro, Small and Medium Enterprises; and Private Sector Development. MicroSave has worked in more than 50 countries across Asia, Africa & Latin America, with more than 450 clients.
Source: Press Release, March 04, 2017, NPCI transforms villages into “cash-lite villages”