Reserve Bank of India unleashes account number portability


Reserve Bank of India (RBI), the country’s central bank and regulator, has asked banks in the country to work towards implementing a system that allows users to port their account from one bank to another, without changing the account number.

Indian domestic payment networks report positive growth


National Payments Corporation of India (NPCI) is reporting positive momentum for transactions across its domestic RuPay, Unified Payments Interface (UPI) and Aadhaar-Enabled Payment System (AePS) networks for the fiscal first quarter. Its goal is to hit 11 billion transactions by the end of the fiscal year.

The Monday mindset: 3 April 2017


Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Soumik Roy looks at how India has quite a lot of fintech activity in its retail market. Did you notice? For the […]

IDFC Bank launches “breakthrough” biometric payment app, IDFC Aadhaar Pay

IDFC Bank automates revenue management  with Suntec

India-based IDFC Bank has launched an e-payment app, IDFC Aadhaar Pay, developed in association with the Unique Identification Authority of India (UIDAI) and the National Payments Corporation of India (NPCI).

DCB Bank plans iris scans for banking


DCB Bank, a private sector bank in India, plans to allow customer transactions and account opening through iris scans for Aadhaar authentication. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a […]