MUMBAI: The National Payments Corporation of India (NPCI) has said any bank with round-the-clock core banking solution capabilities, with/out ATMs, can now join the national financial switch (NFS) through a sponsor bank.
NPCI is an umbrella institution for all the Retail Payments Systems' in the country.
The move is aimed at facilitating even non-scheduled urban cooperative banks and regional rural banks to have access to the national network of over 78,000 ATMs in the country, NPCI managing director and chief executive A P Hota said in a release.
So far, access has been limited to only scheduled banks with RTGS membership, he added.
Meanwhile, the NPCI also said the total number of banks which have opted to join the inter-bank mobile payments service (IMPS) network have crossed 27 with two more private sector lenders joining the network over the past fortnight.
Source / Courtesy : The Economic Times
NPCI is an umbrella institution for all the Retail Payments Systems' in the country.
The move is aimed at facilitating even non-scheduled urban cooperative banks and regional rural banks to have access to the national network of over 78,000 ATMs in the country, NPCI managing director and chief executive A P Hota said in a release.
So far, access has been limited to only scheduled banks with RTGS membership, he added.
Meanwhile, the NPCI also said the total number of banks which have opted to join the inter-bank mobile payments service (IMPS) network have crossed 27 with two more private sector lenders joining the network over the past fortnight.
Source / Courtesy : The Economic Times
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