innovationinbanking

          Banks can obtain two types of Membership in the National Payment’s Corporation of India  Unified Payment Interface UPI platform:- Membership type 01) PSP and Issuer Membership type 02) Issuer PSP stands for Payment Service Provider and is mandatory if the Bank desires to offer UPI collect facility to merchants  It is however, also possible for a Bank to join UPI only as an Issuer, to provide Virtual addresses to its customer base by default. v   The ‘Issuer’, option enables NPCI to rapidly scale up the number of Banks on the UPI platform. v   The ‘Issuer’, option enables Banks to offer the benefits of UPI to its customers with minimum effort. v   The ‘Issuer’, option enables customers to experience Safe Digital Banking without exposing their bank/card details. v   The ‘Issuer’ , option encourages  merchants to adopt UPI as a Payment Option, as the numbers ...

          State Bank of India top management today announced the launch of a new CSR initiative. SBI Foundation – the CSR arm of State Bank of India is the implementation partner of this initiative.           The ultimate goal of SBI Gram Seva is to transform the adopted villages into model villages through adoption of digital tools.  Through digital infrastructure it is hoped that the villagers in adopted villages will be able to make complete use of various Government schemes. SBI will not directly fund any schemes; rather it will be an enabler for various government schemes.           In the coming days, complete details will be available on SBI foundation website. Do drop in at SBI Foundation for more details.           “SBI has adopted villages in the past but there was no focus on ...