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All 56 Grameen Bank enable on RuPay and NACH system

By
RuPay , National Payments Corporation of India, NPCI
Mumbai, March 30, 2015 : National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in the country, has enabled all 56 regional rural banks (RRBs) in the country under its central payment systems network with RuPay cards and access to NACH (National Automated Clearing House) service. With this engagement, 120 million customers at 19,000 bank branches of all 56 Regional Rural Banks are now part of the national network of electronic payment systems.
“The divide between big banks and regional rural banks (RRBs) are no longer valid for providing basic electronic payment services. This will boost the ecosystem in creating a less-cash society,” says Shri A P Hota, MD & CEO, NPCI.
Providing modern banking facilities in rural areas RRBs have played a vital role in making the ambitious Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme a huge success with opening of 21.7 million accounts and augmented deposits of Rs 1,600 crore in banks. More than 20 million customers have been issued RuPay debit cards by various RRBs (mostly under PMJDY scheme) and are performing successful transactions at ATMs and PoS. As per NPCI research, every second records one transaction from any RRBs customer on central payment or NFS platform. However, the average spend on PoS is estimated at Rs 3,500.

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