Induction of new Directors on Board of NPCI

The Board has inducted Mr. Sudarshan Sen, Executive Director from Reserve Bank of India and Mr. Ajay Kumar Kapoor, Senior Executive Vice President, Business Process Reengineering Group, HDFC Bank as Nominee Directors on Board of NPCI. They bring with them great expertise from banking industry. Nominee Director from Reserve Bank of India, Mr. B. Sambamurthy and Mr. Bhavesh Zaveri, Nominee Director from HDFC Bank have resigned from the directorship of NPCI due to change in nomination by their respective banks. The Board placed on record its appreciation for the valuable guidance provided by them, during their tenure as Director of the Company.

Mr. Sudarshan Sen

Mr. Ajay Kumar Kapoor

Bharat BillPay enables 74 billers across the country

Bharat Bill Payment Ecosystem has enabled 74 billers (Electricity 48, DTH 3, Mobile Postpaid 4, Landline Postpaid 2, Broadband 3, Gas 10 and Water 4) who are spread across 20 states and 3 Union Territories in India. Out of the above mentioned 74 billers, 13 billers have their presence across the country. About 13 unique billers like TamilNadu Electricity Board, UPPCL, Vadodara Gas etc. have been on-boarded for the first time on the interoperable bill payment platform. Instead of using multiple apps or logging to different websites or even travelling to various collection points, the brand empowers and promises a “One-stop destination” for payment of all utility bills.

United Bank of India launches RuPay credit cards

United Bank of India emerged to be the first bank from eastern India to launch RuPay Credit Cards. RuPay credit card was unveiled by Mr. Pawan Kumar Bajaj, Managing Director, United Bank of India and Mr. Ashok Kumar Pradhan, Executive Director, United Bank of India on March 3, 2018 in the presence of officials from NPCI and the bank. About 12 banks are now live with RuPay credit card program.

BHIM UPI clocks over 178 million transactions in March

Bharat Interface for Money (BHIM) Unified Payments Interface (UPI) achieved 178.05 million transactions in the month of March. The total value of transactions stood at Rs. 24,172 crore with the average ticket size of Rs 1,358. UPI volume (UPI, BHIM and USSD 2.0 -*99#) during March, February and January were 178.05 million, 171.40 million and 151.83 million while the value stood a tRs. 24,172,Rs. 19,126 crore and Rs. 15,571.2 crore respectively. BHIM is a smart mobile phone based app that allows simple, easy and quick payment transactions using UPI. One can easily make direct bank to bank payments instantly and collect money using mobile number or payment address. It is a unique payment solution which empowers an individual with immediate send and collect request.

IMPS scores a century in March, clocks over 110 million transactions

Immediate Payment Service (IMPS), the platform which works 24 X 7 has achieved 110.16 million transactions in the month of February 2018. The total value of transactions stood at Rs. 1,03,804.02 crore with the average ticket size at Rs. 9,423. IMPS volume during March, February and January were 110.16 million, 99.25 million and 99.59 million while the value stood at Rs. 1,03,804.02 crore, Rs. 88,270.33 crore and Rs. 88,213.58 crore respectively. IMPS provides robust and real time fund transfer service which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS and Branch. As on March31, 2018, total number of banks live on IMPS platform were 341.