NPCI launches AI virtual assistant PAi

News: National Payment Corporation of India(NPCI) has launched an artificial intelligence(AI) based chatbot named PAi. Facts: Purpose: To create awareness and solve the queries around NPCI’s products like FASTag, RuPay, UPI, AePS on a real time basis which will in turn help in improving the digital financial inclusion in India. Additional Facts: NPCI: It is… Continue reading NPCI launches AI virtual assistant PAi

Govt launches BHIM 2.0 with new functionalities, additional language support

News:Union Minister of Electronics and Information Technology (MeiTY) has launched BHIM 2.0 with additional features. Facts: About BHIM: Bharat Interface for Money(BHIM) is Unified Payments Interface(UPI) based payment interface application that allows real time fund transfer The app has been launched in 2016.It was developed by the National Payments Corporation of India (NPCI). The BHIM… Continue reading Govt launches BHIM 2.0 with new functionalities, additional language support

Bharat Bill Payment System(BBPS)

News:The Reserve Bank of India has expanded the scope of the Bharat Bill Payment System (BBPS) by adding other categories of recurring payments through the portal. Facts: About BBPS: BBPS is an interoperable platform for repetitive bill payments.It functions under the aegis of National Payments Corporation of India (NPCI). It is a one-stop payment platform… Continue reading Bharat Bill Payment System(BBPS)

Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges

The Reserve Bank of India(RBI) had appointed a committee headed by Nandan Nilekani to submit its suggestions on promoting digital payments. The panel has suggested several measures to encourage digital payments such as (a)elimination of charges (b)round-the-clock RTGS and NEFT facility and (c)duty-free import of point-of-sales machines. The panel has also suggested that there should… Continue reading Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges

QR code option may be must for shops

The Central government is looking to mandate a QR code-based payment option using Unified Payments Interface (UPI) at all shops. This measure is intended to promote digital payments as the preferred option.The details are being worked by the National Payments Corporation of India (NPCI). QR code or Quick Response code is a two-dimensional machine readable… Continue reading QR code option may be must for shops

SBI launches cardless ATM withdrawals

State Bank of India (SBI) has launched YONO Cash app using which customers can withdraw money from ATMs without using a card.It is a part of SBI’s digital banking platform,You Only Need One (YONO).The ATMs enabled for this service will be termed as Yono Cash Point. Customers can initiate the cash withdrawal process on the… Continue reading SBI launches cardless ATM withdrawals