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National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Various financial and other services are being Aadhaar-enabled, called Aadhaar-enabled Service Delivery (AeSD), in a phased manner. [15] By 1 January 2014, half of India (289 districts across various states) had been covered by DBT for subsidized LPG. By August 2013, 6.3 million duplicate LPG connections were detected by Aadhaar and were cancelled.
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
The Unique Identification Authority of India is a central government agency of India. [6] Its objective is to collect the biometric and demographic data of residents, store them in a centralised database, and issue a 12-digit unique identity number called Aadhaar to each resident.
A 60% stake was taken by the Reserve Bank of India and the new bank was named State Bank of India. The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [1]
Lack of computerized records for schemes to be linked to DBT was hindering rollout. The minutes show that out of 39.76 lakh beneficiaries who ought to have been covered under various schemes, only 56% had bank accounts, 25.3% had both bank accounts and aadhaar numbers, but only 9.62% have bank accounts seeded with aadhaar numbers. [37]
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
[63] [46] [64] In April 2010 the logo and the brand name Aadhaar was launched by Nilekani. [65] In May 2010 Nilekani said he would support legislation to protect the data held by the UIDAI. [66] In July 2010 UIDAI published a list 15 of agencies that were qualified to provide training to personnel to be involved in the enrolment process.