It is a “Not for Profit” umbrella organization for operating retail payments and settlement systems in India, is an initiative of RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. It aims in bringing innovations in the… Continue reading National Payments Corporation of India (NPCI)
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Digital payment system in India
What is the role of RBI in the evolution of digital payment in India? RTGS- This system enables the transfer of money from one bank account to another on a “real-time” and on “gross” basis. Settlement happens in real-time. The large value payments on stock trading, government bond trading and other customer payments were covered… Continue reading Digital payment system in India
