National Payments Corporation of India: GK, Current Affairs, Questions, Trivia and News

Kotak Bank unveils Debit Card-Based e-mandate On NPCI’s API Platform

Kotak Mahindra Bank has unveiled the first debit card-based authentication solution on National Payments Corporation of India’s e-Mandate API (Application Program Interface) platform. Kotak Mahindra Bank has become the first ever Destination Bank to go live with both Net Banking and Debit Card-based e-mandate authentication. The motive behind this is to allow Kotak customers to ..

Kotak Mahindra Bank becomes first Destination Bank to launch debit card-based e-mandate on NPCI’s API platform

The Kotak Mahindra Bank (KMB) has become the first Destination Bank to go live with Net Banking and Debit Card-based authentication solution on NPCI’s e-Mandate API platform. The facility will enable its customers to create electronic mandates (similar to the erstwhile eNACH with Aadhaar + OTP) via both the Debit Card and Net Banking channels. ..

BHIM-Aadhar Payment System

The BHIM Aadhaar platform and application seek to minimize the role of plastic cards and point of sale machines, which hitherto are believed to be essential for cashless transaction.  Under this, a customer has to link his bank account with his Aadhaar number. As of now, around 40 crore bank accounts are already linked to ..

Biswamohan Mahapatra appointed as non-executive chairman of National Payments Corporation of India

Biswamohan Mahapatra has been appointed as non-executive chairman of the National Payments Corporation of India (NPCI) for a period of two years, with effect from February 8, 2018. He succeeded B Sambamurthy, who was the interim chairman of the NPCI board. Apart from him, Dilip Asbe is the Managing Director & CEO of the organisation.

Dilip Asbe appointed as new Managing Director and CEO of NPCI

Dilip Asbe has been appointed as the new Managing Director and CEO of National Payments Corporation of India (NPCI). Prior to this, Asbe was CEO-in-charge of NPCI. He succeeded A.P.Hota, who retired in August 2017. Asbe has been in the NPCI since its inception and has played a pivotal role in designing, building, operationalising and ..

The Union government to bear MDR charges to promote digital transactions

To promote digital transactions, the union cabinet has recently decided to bear the Merchant Discount Rate (MDR) applicable on digital payments via debit cards, etc., up to Rs 2,000. The MDR applicable on transactions made through debit cards, the Unified Payments Interface (UPI) and Aadhaar-Enabled Payments System (AEPS) up to and including a value of ..

B Sambamurthy appointed as new interim chairman of National Payments Corporation of India (NPCI)

B Sambamurthy, the former Director and CEO of the Institute for Development and Research in Banking Technology (IDRBT), has been appointed as new interim Chairman of the National Payments Corporation of India (NPCI). He will succeed M Balachandran, who was Non-Executive Chairman of NPCI from September 23, 2013 till September 20, 2017. Prior to the ..

The Reserve Bank of India (RBI) approves Spice Digital to process bill payments under BBPS

The Spice Digital Limited (SDL) has received the final licence from the Reserve Bank of India (RBI), to process bill payments as a Bharat Bill Payment Operating Unit (BBPOU) in the Bharat Bill Payment System (BBPS). The BBPS is a RBI conceptualised system driven by National Payments Corporation of India (NPCI). It is a one-stop ..