Business

NPCI’s e-paymentliteracy initiative

K.V. Rao, Chief General Manager, NABARD, Chennai and M. Balachandran (right), Chairman, National Payments Corporation of India, displaying a e-payments literacy manual, at a press conference, in Chennai, on Monday

K.V. Rao, Chief General Manager, NABARD, Chennai and M. Balachandran (right), Chairman, National Payments Corporation of India, displaying a e-payments literacy manual, at a press conference, in Chennai, on Monday   | Photo Credit: Bijoy Ghosh

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National Payments Corporation of India (NPCI), a central infrastructure for various retail payments in India, has announced the launch of nationwide e-payment literacy workshop on the occasion of World Literacy Day on September 8 (Tuesday).

Addressing presspersons here on Monday, M. Balachandran, Chairman, NPCI said the workshop would be held across 56 regional rural banks at 120 centres.

He said NPCI would launch credit card in the coming year. Besides there were also plans to launch an international card and a co-branded card with Mudra Bank, he said.

NPCI, which had initiated the launch of RuPay debit cards in India, was in discussions with China UnionPay, a Chinese Government supported network, and JCB Co. of Japan, to facilitate RuPay card holders to withdraw cash in the respective currencies of these two countries.

Mr. Balachandran said NPCI had witnessed a good growth in the number of transactions (withdrawals from ATMs, point of sales operations and cheque clearing) in the last five years to 20 millions a day. The plan was to double the number to 40 millions a day in the next three months and reach 100 millions going forward.

In August, it registered 555 million transactions a month involving an amount of Rs. 2.10 lakh crore, he said. In Tamil Nadu, e-payment literacy workshops will be conducted in co-operation with regional rural banks namely Pandyan Grama Bank, Pallavan Grama Bank and Puduvai Bharathiar Grama Bank, sponsored by National Bank for Agriculture and Rural Development.

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Printable version | Jan 28, 2020 1:12:25 AM | https://www.thehindu.com/business/npcis-epaymentliteracy-initiative/article7625831.ece

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