At the Global Fintech Festival (GFF) 2025, initiatives were launched to promote seamless digital payments and innovation.
Key Initiatives
- NPCI Tech Solutions Limited (NTSL): Launched as a new subsidiary of the NPCI to foster Fintech innovation.
- UPI Multi-Signatory: Enables joint accounts on UPI that require authorisation from one or more signatories to perform UPI payments seamlessly.
- This will aid Corporates, MSMEs, start-ups, etc. for business transactions.
- Forex on Bharat Connect: Linkage of FX Retail Platform with Bharat Connect (BBPS) platform (formerly known as Bharat BillPay).
- It enables retail customers to access foreign currency through payment/banking apps integrated with the Bharat Connect.
- Cash Withdrawal through Micro ATMs using UPI: Simplifies cash withdrawal at UPI Cash Points such as Business Correspondents.
About NPCI
- NPCI (Not-for-Profit company) is an initiative of RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
- Itis the umbrella entity responsible for overseeing retail payments and settlement systems in India.
- Key Initiatives by NPCI: RuPay Payment System, links all ATMs in India, UPI.
- It also facilitates National Electronic Toll Collection (NETC) through FASTag, IMPS, NACH, Aadhaar Payment Bridge System, etc.
