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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 ...
Rashtriya e-Market Services (ReMS) is established as a joint venture of Government of Karnataka (India) and NCDEX spot exchange limited with equal shareholding. It was conceived to blend public interest with the initiative of a private enterprise for establishing, operating, managing a specialized electronic trading platform called Unified Market Platform (UMP) for auctioning of farmer's produce.
BHIM (Bharat Interface for Money) BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless ...
Karnataka is one of the highest economic growth states in India with an expected GSDP (Gross State Domestic Product) growth of 9.5% in the 2021–22 fiscal year. [4][5] The total expected GSDP of Karnataka in 2022–2023 is about $240 billion. [5] Karnataka recorded the highest growth rates in terms of GDP and per capita GDP in the last decade ...
The acronym 'RTGS' stands for Real-time gross settlement. The Reserve Bank of India (India's Central Bank) maintains this payment network. Real-time gross settlement is a funds transfer mechanism where transfer of money takes place from one bank to another on a 'real time' and on 'gross' basis.
Mangalore Electricity Supply Company Limited (abbreviated as MESCOM) is an Indian electricity supplier to the districts of Karnataka namely Dakshina Kannada, Udupi district, Chickmagalur and Shimoga. It has its headquarters at Mangaluru .
E-commerce payment system. An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping ...
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.