From which village, Rupay Card was launched?
Rupay, India’s answer to MasterCard and Visa was launched in 2011 and Bank of India became the first bank to give out a batch of automated teller machines (ATM)-cum-debit cards to Unique Identification (UID) number holders in Pagdha village of Maharastra Thane district. The Card which was earlier renamed from IndiaPay to RuPay will be given to ‘no frills’ account holders and can be used to withdraw cash from ATMs as well as from micro-ATMs, the hand-held devices with the bank’s business correspondents. National Payments Corporation of India (NPCI) had in December 2010, decided to change the proposed name of India’s first indigenous payment gateway to RuPay from IndiaPay. The name was changed to RuPay as it was found out that two other companies in the payment space have already applied for similar name and NPCI didn’t want any legal complication over the name.