Induction of new Directors on Board of NPCI

The Board has inducted Ms. Mridula Iyer, Managing Director, Head - Treasury & Trade Solutions (TTS) for Citi South Asia, from Citibank N.A. and Mr Nagesh G. Vaidya, Chairman of Kerala Gramin Bank, as nominee directors on Board of NPCI. They bring with them great expertise from banking industry.

Resignation of Directors:

Ms. Debopama Sen, nominee director from Citibank N.A. and Mr. Ravikrishnan M.K. from Kerala Gramin 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.

NPCI partners with Payso to create digital payments awareness

NPCI has collaborated with Payso Fintech in a bid to create awareness about digital payments in four cities namely, Mumbai, Pune, Bhopal and Indore. Under the association Finternship, an eight weeks internship program will be organised for about 600 graduates and postgraduates students of prime institutes to make them digitally sound. Under the Finternship program, Payso has created an on-line empanelment process after connecting and contacting colleges to emphasise on enrolling smart students. There are various filters applied to scrutinise and ensure that desired level of young students are enrolled. Everything from profile creation, enrolment to even doing specific learning on digital are offered through an online portal of Payso and each activity could be performed through the mobile application specifically created for students.

BHIM UPI on-boards over 100 banks

Customers of 101 banks now have access to seamless payments through BHIM UPI. Four new banks were added on the platform in May. In addition to this, BHIM UPI achieved 189.48 million transactions in the month of May. The total value of transactions stood at Rs. 33,288 crore. 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 clocks over 116 million transactions

Immediate Payment Service (IMPS), the platform which works 24 X 7 has achieved 116.62 million transactions in the month of May. The total value of transactions stood at Rs. 1,08,574 crore. IMPS volume during May, April and March were 116.62 million, 109.55 million and 110.16 million while the value stood at Rs. 1,08,574 core, Rs. 1,02,240 crore and Rs. 1,03,804 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 May 2018, total number of banks live on IMPS platform were 364.