Discover and read the best of Twitter Threads about #npci

Most recents (7)

How did @coinbase Support @UPI_NPCI Payment support for Indian Crypto Lovers ?

Stay tuned and will write a detailed thread today.

1. How did they do it ?
2. Which PA is Involved ?
3. What is the risk which a Coinbase India user is exposed to ?
1/n @RBI @dilipasbe @NPCI_NPCI

How did @coinbase support Payment acceptance for #Crypto in India?

Coinbase a Global leader hatched a plan by using #ShellCompanies to get Payment Methods enabled through Payment aggregators and banks such as Cashfree, BoB, IndusInd and ICICI.
@gocashfree Supported them by issuing UPI VPA created in their own name :
cf.softewaregiant@indus
cashfree.pay@icici
cf.troxoverseas@indus

Cashfree had also provided them with Payout Solutions to add money apart from UPI as a method.

So Cashfree used their own account?
Read 46 tweets
What is #eRUPI?

eRUPI is a gamechanger by @narendramodi,showing his commitment to last mile delivery with zero tolerance for corruption

#eRUPI is a non-cash&contactless tool for digital payments;It acts as a voucher,based on QR code or SMS &is sent to beneficiary’s mobile phone
#MudraBank #eRUPI digitally connects service initiators with beneficiaries,sans physical interface

It also ensures payment is made to service provider only after transaction is completed

eRUPI is prepaid in nature,with timely payment to service provider without any intermediary
eRUPI’s single payment mechanism will allow users to redeem coupons at service providers without a card, digital payment application,or access to online banking

#eRUPI is developed by National Payments Corporation of India, #NPCI,on its UPI platform&will enhance #Digitisation💪
Read 5 tweets
Lets look how #FASTag is well coordinated for a single agenda - sale of public funded highways to global finance and select interests (who may/may not fund electoral bonds).

Also, a side look on how Federalism is being eaten for breakfast by @CMOTamilNadu #Loot #Alert #Thread
If you own a car / transport business, #FASTag would have been the new #Aadhaar for you with incessant messages / deadlines for mandatory #FASTag et al.

There is lot more to #FASTag than just convinience - Read thewire.in/political-econ…

Infrastructure financing, Surveillance etc
The 25 odd years of highway development in India, has seen many different models.

The age old one being - state (Central / State govt) building (and maintaining) highways with its own money from its budget. This is called 'Publicly Funded Highways'
Read 17 tweets
#Sensex@36000+ for 1st time since 11thMarch

Rupee/$ 75.01,best since 27th March

#BajajAuto sales@2.78Lakh units, for June,up 119% MoM

#GST revenues for June,90917Cr

#AxisBank to raise $2bn from PEs

RBI commences 30000Cr special liquidity scheme for NBFCs&HFCs
#GreenShoots
#HeroMotoCorp,world's largest wheeler company,sold 4.5 lakh units in June 2020

This is a massive 302% growth over 1.12 lakh units,despatched in May 2020

This stellar performance came,in midst of a raging pandemic

Leftists& #Twitternomists, quiet😑

#GreenShoots #Modinomics💪
#UPI transactions in June hit all time high of 1.34 billion in terms of volume,Vs 1.23 bn in May2020

Value of June transactions was Rs 2.62 lakhCr,as per #NPCI data,Vs 2.18 lakh Cr in May

Huge surge in UPI trades,big vindication of #Demonetisation& #DigitalIndia

#GreenShoots
Read 5 tweets
#ReadingSession - #Thread on "Report of the Task Force on an IT Strategy for PDS and an implementable solution for the direct transfer of subsidy for Food and Kerosene" - Oct 2011 aka #NandanPDSTaskForce which first mooted the idea of #PDSN. It is important to understand #ONORC
The report is here - dea.gov.in/sites/default/…

Before dwelling in - Note the title - Czar didn't like 'commitees' and hence called whatever he was part of, as - task force - Though no task was done!
Members of committee - All ex-officio secretaries, except 2 from the illegal executive body UIDAI. This was basically done by "#Aadhaar lobby".

May 2020 - theprint.in/economy/modi-g… - Nandan funded media calling 'Anti Aadhaar lobby' in NAC stalled it in UPA era.
Read 35 tweets
#CashlessConsumer Following up on consent-less auto fetch privacy violations in #BBPS

#NPCI's own data shows the practice of building credit profiles continue rampantly completely disregarding user consent & NPCI notice.

medium.com/cashlessconsum…
In Oct 2018, #CashlessConsumer complained to RBI/NPCI and top fintechs/banks about the privacy abuse in #BBPS for building credit profile database without the consent of individual medium.com/cashlessconsum…
NPCI responded on Nov 1, 2018 with a circular mandating all BBPS ecosystem participants to ensure customer consent for bill fetch and provide opt out of auto fetch provisions and comply with circular in 60 days

bharatbillpay.com/download.php?f…
Read 11 tweets
#ZeroMDR 1/ Since 2006 I have been the bigget believer and proponent of in digitizing payments - ideally via mobile payments - lord knows I've preached this more than anyone else has! Even my 83-year-old mother is a convert, and I literally refuse to pay anyone in cash!
#ZeroMDR 2/ The benefits of #digitalpayments are spread across a large ecosystem - notably the government, merchants, consumers, banks & Payment Systems Providers (PSPs).

The costs of digital payments are today borne by the banks & PSPs - who pass them on to merchants!
#ZeroMDR 3/
Indirectly merchants pass these on to consumers & have a blended cost. Some explicitly pass these costs to the consumer as a "surcharge".

Today's incentive alignment ensures that cash will continue to be the most (financially) attractive for face2face payments!
Read 18 tweets

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