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National Securities Depository Limited (NSDL) is an Indian central securities depository, based in Mumbai. It was established in August 1996 as the first electronic securities depository in India with national coverage. [2] It was established based on a suggestion by a national institution responsible for the economic development of India.
Protean eGov Technologies Limited (previously NSDL e-Governance Infrastructure Limited) is an Indian technology company headquartered in Mumbai. [1] The company focuses on developing digital public infrastructure (DPI) and e-governance initiatives for various governmental bodies in India. [ 2 ]
NPCI Bharat Bill Payment System launched NOCS platform that will provide reconciliation and settlement services for ONDC transactions. It will be integrated with banks, fintechs and e-commerce players. Initially it will go live with AU Small Finance Bank, Axis Bank, HDFC Bank, IDFC First Bank, and YES Bank. [63]
Payments can be made by Visa, Mastercard, PayPal and local Arca or Mobidram systems. [90] E-Cadastre: The system enables to submit an application to the property cadastre and receives information on landowners, the surface of a plot of land, legal status of any property. The state electronic payment system is integrated into this tool.
Growing availability of Internet connected services and the issuance of 1.3 billion biometric ID numbers in the region has made it easier for Indian customers to open bank accounts and use electronic payment systems. As of 2023 there are 907.4 million internet users in India (64% of the population), a 35% increase since 2018.
The reputed entities like Protean eGov Technologies Limited (formerly NSDL e-Governance Infrastructure Limited) [15] and UTI Infrastructure Technology Services Limited (UTIITSL) have been entrusted by Income Tax Department as managed service providers for processing of applications, collecting, handling and verifying personal documents like ...
Sponsor banks are allowed to originate transactions the system required, they have a mutual agreement with NPCI and also are members of any payment system approved by the Reserve Bank of India. Destination banks are allowed to do transaction, process mandates and update the Aadhaar mapper through the use of the system.
The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...