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Website. www .upichalega .com. Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
As per NPCI, some of the early use cases involve FASTag recharges, insurance payments, and EMI collections offline. Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India and Utkarsh Small Finance Bank enabled UPI Lite feature on BHIM. Transaction fees and limits
RuPay (portmanteau of Rupee and Payment) is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India (NPCI) in 2012. [1] [2] [3] It was created to fulfil the Reserve Bank of India 's (RBI) vision of establishing a domestic, open and multilateral system of payments.
Electronic Money Institution. An Electronic Money Institution (EMI) is a financial institution that is authorised to issue electronic money and provide payment services such as domestic and international electronic funds transfers and can provide bank accounts and e-wallets. [1] EMIs are similar to banks except they are not allowed to lend money.
Website. www .mobikwik .com. MobiKwik is an Indian payment service provider founded in 2009 that provides a mobile phone-based payment system and digital wallet. [2] [3] Customers can add money to an online wallet that can be used for payments. In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, [4] and in May ...
Equated monthly installment. An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is fully paid off along with interest. [1]
Housing Development Finance Corporation. Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. [9] [10] It was the biggest housing finance company in India. [11] It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and ...
www .hdfcbank .com. HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. [9] [10] [11] The Reserve Bank of India (RBI) has identified the HDFC Bank, State ...