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Origins. The Employees' Provident Fund Organisation (EPFO) holds a pivotal role in India's social security system, dedicated to ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds ...
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [ 1][ 2] It is used on mobile devices to instantly transfer ...
The Public Provident Fund ( PPF) is a voluntary savings-cum-tax-reduction social security instrument in India, [ 1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
India and Singapore are working to link their digital payments systems to enable “instant, low-cost fund transfers,” in a major push to disrupt the cross-border transactions between the two ...
UPI payment apps like Google Pay, PhonePe and Paytm are currently the most popular way for Indians to make payments online. Critics have alleged that Google’s control of the Play Store and the ...
E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes. Due to RBI efforts and the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), now over 75% of all transaction volume is electronic, including both ...
The National Payments Corporation of India (NPCI), the body overseeing the country’s widely used Unified Payments Interface (UPI) mobile payment system, is going to meet various fintech startups ...
The Reserve Bank of India’s directive, which goes into effect on Friday, requires banks, financial institutions and payment gateways to obtain additional approval for auto-renewables ...