NPCI project to make villages into “cash-lite villages”

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.

About NPCI

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).

About MicroSave

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”

NPCI presents the National Payments Excellence Awards 2016

National Payments Excellence Awards 2016

The highest recognition in the industry to acknowledge exceptional performance in
payments system, the National Payment Corporation of India (NPCI) presented the National Payments Excellence Awards 2016.

The prestigious awards hosted by NPCI are for inculcating a spirit of healthy
competition and for recognizing the exceptional performance of NPCI members. This includes commercial banks, co-operative banks, Regional Rural Banks (RRBs), White Label ATM Operators (WLAOs) and Prepaid Payment Instruments (PPIs).

Continue reading NPCI presents the National Payments Excellence Awards 2016

NPCI and Reliance launch India’s first in-store UPI Payments facility

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National Payments Corporation of India (NPCI) and Reliance Retail announced the launch of a new in-store payment solution that will enable customer payments via Unified Payments Interface (UPI) platforms like BHIM or other bank-promoted UPI payment apps. The platform is architected by Bangalore-based Innoviti Payment Solutions, with process support from Axis Bank.

Continue reading NPCI and Reliance launch India’s first in-store UPI Payments facility

The central government recently announced its decision to merge Bharatiya Mahila Bank (BMB) with State Bank of India (SBI) from April 1. The most valid reason behind this merger could be:

Q. The central government recently announced its decision to merge Bharatiya Mahila Bank (BMB) with State Bank of India (SBI) from April 1. The most valid reason behind this merger could be:

A. greater banking services outreach to more women

B. merger is the part of central government’s banking reforms

C. BMB failed to achieve its objective of reaching 85% of women in 3 years.

D. BMB is reeling under NPAs worth Rs. 620 crore and the merger is the only option government had.

Answer:  

Continue reading The central government recently announced its decision to merge Bharatiya Mahila Bank (BMB) with State Bank of India (SBI) from April 1. The most valid reason behind this merger could be:

The private sector YES Bank Ltd recently said it would go for a fresh round of share sale through QIP. What does QIP mean?

Q. The private sector YES Bank Ltd recently said it would go for a fresh round of share sale through QIP. What does QIP mean?

A. Questionnaires for Investigations Processing

B. Quality Innovation Performance

C. Quality Investment Projects

D. Qualified Institutional Placement

Answer:

Continue reading The private sector YES Bank Ltd recently said it would go for a fresh round of share sale through QIP. What does QIP mean?

Where is the headquarter of Indian Overseas Bank?

Q. Where is the headquarter of Indian Overseas Bank?

A. Chennai

B. Mumbai

C. Mangalore

D. New Delhi

Answer:

Continue reading Where is the headquarter of Indian Overseas Bank?