Imagine paying for everyday purchases directly from your bank, without the need for carrying cash. The RBI's new interface helps you do just that.
Reserve Bank of India Governor Raghuram Rajan launched the Unified Payments Interface (UPI) system on Monday, as its latest offering in boosting digital money transfers.
The interface has been developed by National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments in the country. The UPI seeks to make money transfers easy, quick and hassle free.
Ten major banks — SBI, Canara Bank, BOI, ICICI Bank, HDFC Bank, Punjab National Bank, Bank of Baroda, HSBC, and Citi Bank — are integrating the interface with their mobile apps. “29 banks had concurred to provide UPI service to their customers. We are confident that several banks will join UPI this year and the number will multiply further,” said A. P. Hota, MD & CEO, NPCI.
Here is the complete news
This is going to be exciting!
Reserve Bank of India Governor Raghuram Rajan launched the Unified Payments Interface (UPI) system on Monday, as its latest offering in boosting digital money transfers.
The interface has been developed by National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments in the country. The UPI seeks to make money transfers easy, quick and hassle free.
Ten major banks — SBI, Canara Bank, BOI, ICICI Bank, HDFC Bank, Punjab National Bank, Bank of Baroda, HSBC, and Citi Bank — are integrating the interface with their mobile apps. “29 banks had concurred to provide UPI service to their customers. We are confident that several banks will join UPI this year and the number will multiply further,” said A. P. Hota, MD & CEO, NPCI.
Here is the complete news
This is going to be exciting!
