Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday met with Thomas Jordan, the Chairman of Governing Board, Swiss National Bank, during the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
According to the Reserve Bank of India's annual report of 2022-23, the payment system is expected to operate on minimalistic hardware and software and would be made active only on a need basis.
Whether it is Aadhaar-enabled direct fund transfer, Aadhaar Enabled Payment System (AePS) for last-mile banking, authentications, or e-KYC for identity verification, Aadhaar has been playing an important role in supporting Digital India vision and enabling ease of living for residents.
Sergey Cheryomin, Head of the Department for External Economic and International Relations of Moscow on Wednesday said cooperation prospects between the Russian payment system Mir and Indian payment system RuPay are bright and would also help boost tourism.
Speaking at the Payment System Operators (PSO) Conference in Kochi on Saturday, the government said, "Availability and affordability of an expeditious grievance redress mechanism is of utmost importance to ensure public trust in digital payments."
A recent report by PhonePe and Boston Consulting Group concluded that India's digital payments market will more than triple from USD 3 trillion to USD 10 trillion by 2026.
Mumbai (Maharashtra) [India], March 7 (ANI/NewsVoir): Electronic Payment and Services Pvt. Ltd. (EPS), a leading provider of payment technology services in India, has announced the appointment of Ram Rastogi as an Additional Director in its wholly owned subsidiary, Finiverse Aggregator Pvt.
The statement from MAS said Liquid Group is the first non-bank financial institution to participate in Singapore's cross-border real-time payment system linkage via its LiquidPay e-wallet.
In what is a first-of-its-kind collaboration with another country, India and Singapore on Tuesday linked their respective online payments systems -- Unified Payments Interface (UPI) of India and PayNow of Singapore -- for seamless cross-border transactions between the two countries.
Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore Managing Director Ravi Menon will launch the cross-border connectivity.
The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances.
Paytm Payments Bank Limited (PPBL) received final approval from the Reserve Bank of India to operate as Bharat Bill Payment System services under the Payment and Settlement Systems Act, 2007, said a press release on Monday.