National Payments Corporation of India (NPCI) in News 2024
Welcome to our blog! Today, we’re talking about the National Payments Corporation of India (NPCI) and why it’s making headlines in 2024. The NPCI is a key player in the Indian economy, helping manage digital payments across the country. If you’re preparing for upcoming competitive exams like SSC, UPSC, RRB NTPC, Railway, Bank, CDS, or any State Level Exams, you’ll want to stay updated on NPCI news. Let’s explore it and learn about the latest updates and how they impact the Indian economy!
October-November 2024
- NIPL Partners with Trinidad and Tobago: NPCI International Payments Limited (NIPL) partnered with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to develop a real-time payments platform like India’s UPI.
- NIPL Signs MoU with Egov Jamaica: NPCI International Payments Limited (NIPL) signed an MoU with Egov Jamaica Limited to help Jamaica adopt India’s UPI technology for improved digital payment solutions.
- NBBL Partners with PFRDA: NPCI Bharat BillPay Limited (NBBL) collaborated with the Pension Fund Regulatory and Development Authority (PFRDA) to integrate the National Pension System (NPS) as a biller category on the Bharat Connect platform.
August – September 2024
- The National Payments Corporation of India (NPCI) has announced the introduction of ‘BBPS’ for Business, where BBPS stands for Bharat Bill Pay System.
- According to the report ‘Enabling Digital Payments For Women in India’ by the UPI for Her initiative, 57% of 2,500 women entrepreneurs surveyed were unaware of UPI-based merchant offerings. The initiative is a collaboration between NPCI and Women’s World Banking (WWB), New York.
- As per recent information shared by the National Payments Corporation of India (NPCI), C-Edge Technologies Ltd has potentially been compromised by a ransomware attack.
- National Payments Corporation of India (NPCI) has launched a wallet for inbound travelers visiting India from across the world, named UPI One World.
- NPCI has incorporated Bharat Interface for Money (BHIM) as a wholly-owned subsidiary, now known as NPCI-BHIM Services Ltd (NBSL), with Lalitha Nataraj appointed as the CEO.
- NPCI has launched a new feature called UPI Circle on its Unified Payments Interface (UPI) platform to enhance convenience and security in digital transactions across India.
January to July 2024
- NPCI International Payments (NIPL) signed an agreement with Qatar National Bank (QNB) to launch QR-code-based UPI payments across West Asia.
- Ajay Kumar Choudhary has been appointed the non-executive chairman and independent National Payments Corporation of India (NPCI) director.
- NPCI has partnered with the Indian Institute of Science (IISc), Bengaluru to research blockchain and artificial intelligence (AI).
- NPCI International Payments (NIPL) has partnered with the Fonepay Payment Service for cross-border UPI transactions between India and Nepal.
- RuPay has collaborated with the National Payments Corporation of India (NPCI) to introduce the ‘Link it, Forget it’s campaign.
- NPCI International Payments Limited (NIPL) has signed a pact with the Central Bank of Namibia to develop a Unified Payments Interface (UPI) like an instant payment system.
- Peru has partnered with NPCI International Payments Ltd (NIPL) to become the first South American country to introduce a UPI-like real-time payments system.
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