RuPay Select Launch - RuPay hosted a grand launch of the Select card which captures the high transacting affluent & HNI customer segment variant at the Txn nxt event from 19^th- 21^st September at Waldorf Astoria Palm Jumeirah, Dubai. The event was attended by all the key bankers- Indian and local, merchants and network partners.

Major highlights of the event:

• Select launch through an interactive LED dance performance depicting an interesting journey of RuPay from its inception
• Keynote address by H.E Navdeep Singh Suri Ambassador from India to UAE
• International subject matter experts from around the globe speaking on Next-gen payment solutions, innovations in payments, data privacy.
• Interesting bankers panel discussion on What’s on the cards?

Unified Payments Interface (UPI) added another feather to its cap when NPCI in association with Securities and Exchange Board of India (SEBI), rolled out UPI as an alternative payment option for buying shares in a public issue (IPO).

Some of the immediate benefits that UPI shall provide to the public issue listing process are;

• It reduces the time from closure of bidding to the listing to 3 days from the extant 6 days.
• The UPI 2.0 mandate feature of One time blocking shall ensure that the amount remains Blocked (and not debited) in the customer’s account till allotment is done, as currently happening in the ASBA process.
• Reduces the need for manual intervention and logistics at various stages of the IPO process

Product milestones