Page 46 - Banking Finance July 2017

REPORT

NPCI changing digital landscape through

RRBs & Co-op Banks

T oday entire country is on path of Digital revolu- who cannot afford cost of data services. *99# can be dialed

from any GSM phone device. A customer can avail service
tion. Thanks to the focus of our Prime Minister
Mr. Narendra Modi who has envisaged Digital
of balance enquiry, fund transfer and collect request, PIN
India. Underneath this India also lies 'Bharat' -
citizens who are trying to match the pace with change and Aadhaar seeding status without going to branch.
digital revolution affecting the way in which services are Regulatory initiatives and policies is further helping in inclu-
being delivered now, including banking services. This 'Bharat' sion of last mile customers.In April 2016, RBI launched the
is 68% of our population; living in non-urban location scheme for providing financial Assistance to Urban Coopera-
andtrailing in urbanization. tive Banks for implementation of Core Banking Solution,
setting up the base for digitizing UCBs. In April 2017, RBI
Since the inception of NPCI in 2009, special focus has been has issued guidelines for UCBS, State & DCCBs for merchant
on financial inclusion to provide cashless banking facility to acquisition for card transactions in April 2017 to increase
the last mile. Currently, 56 RRBs, 48 Scheduled Urban Co- POS availability and transaction. Recently, Common Service
operative Banks, 30 State &298 District Co-operative Banks Centers (CSC) or Digital Seva Kendra are being enabled to
and 394 non-scheduled Urban Co-operative banks are part be part of BBPS (Bharat Bill Payment System) to provide
of National Financial Switch Network (NFS). Being part of assisted Ecommerce services like ticket booking, purchase,
NFS enable customers to access anywhere anytime banking utility bill payments. RBI also has given timeline to entities
services. Today, ATM is not only providing cash withdrawal to become BBPS Agent Institution by 31st December 2017.
service but also Aadhaar registration, Mobile number reg- It will help a common man to make bill payment through
istration, Cheque book request, Balance enquiry, Card to any bank branch counter from anywhere.
card fund transfer. Aadhaar enabled Payment System (AePS)
is being utilized by State & District Co-op Banks and RRBs With the plethora of digital payments services available, NPCI
is also working for spreading the awareness.NPCI has initi-
to provide non branch banking services. Micro ATMs de-
ployed by RRBs are providing door step banking services to ated steps towards digitizing various ecosystems. NPCI has
rural customers. Customer has option to use Aadhaar num- developed solution for Microfinance lending through APBS
channel. In March 2017, NPCI has started working towards
ber, biometric or highly secured chip based RuPay debit
cards.Kisan Credit Card (KCC) is another variant of RuPay Digitization of five villages of Karangamal Panchayat in
Odisha into cash-lite villages.MeitY and NPCI are providing
especially designed for farmers being used for purchase.
NABARD is providing financial assistance to State Co-op demo and talk shows on product usage and benefits through
Banks & DCCBs to deploy Micro ATM, all-in-one integrated TV channel 'DigiShala'. NPCI has also been engaged in en-
abling cashless ecosystem.
devise or mobile/PC/tablets with accessories.
In alignment with NPCI vision of 2020 to touch every India,
Another landmark in retail payments is USSD based *99#. we are taking path breaking steps by digitizing all coopera-
This service is especially created for non- smart phone users tive and regional rural banks of India to provide digital pay-
ment solution to all Indians. Cooperative banks are now
About the author providing UPI services, TJSB being the first cooperative bank
in this segment. NPCI is introducingRuPay Credit Card and
Mr. Anup Nayar PMC Bank is the first cooperative bank ready for commer-
Vice President & Head cial launch. We are hopeful to achieve many more milestones
Business Development this year.
National Payments Corporation of India
(NPCI)
The views expressed by the author are personal.

46 | 2017 | JULY | BANKING FINANCE

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010