Reserve bank of India norms to facilitate payments between mobile wallets using UPI

Posted on:18 Oct 2018 13:03:47
Reserve bank of India norms to facilitate payments between mobile wallets using UPI
18 October 2018 Current Affairs: The Reserve Bank of India (RBI) on released guidelines to facilitate payments among different mobile wallets, a move aimed at promoting digital transactions.

The interoperability would be achieved in a phased manner such as interoperability of PPIs issued in the form of wallets through UPI, between wallets and bank accounts through UPI, and interoperability for PPIs issued in the form of cards through card networks.

UPI is a payments system launched by the National Payments Corporation of India in August 2016. It facilitates instant fund transfer between two bank accounts on the mobile platform, without having to provide any detail of the beneficiary’s bank account.
The Reserve Bank of India (RBI) on released guidelines to facilitate payments among different mobile wallets, a move aimed at promoting digital transactions.

The interoperability would be achieved in a phased manner such as interoperability of PPIs issued in the form of wallets through UPI, between wallets and bank accounts through UPI, and interoperability for PPIs issued in the form of cards through card networks.

UPI is a payments system launched by the National Payments Corporation of India in August 2016. It facilitates instant fund transfer between two bank accounts on the mobile platform, without having to provide any detail of the beneficiary’s bank account.

Monthly Current Affairs


Fresherslive telegram Group

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs Weekly PDF

Current Affairs Monthly PDF

Current Affairs Quiz

Current Affairs Monthly PDF Hindi

Currentt Affairs 2019 January

18 JANUARY
NEWS
17 JANUARY
NEWS
16 JANUARY
NEWS
15 JANUARY
NEWS

Currentt Affairs 2018 December

31 DECEMBER
NEWS
30 DECEMBER
NEWS
29 DECEMBER
NEWS
28 DECEMBER
NEWS

Currentt Affairs 2018 November

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS