National Payments Corporation of India (NPCI) organized a mega event titled “National Payments Excellence Awards 2017”, the highest recognition in the industry to acknowledge exceptional performance in payments system at Hotel Taj Lands Ends, Mumbai. Amidst who is who of the sector B.P.Kanungo, Deputy Governor, Reserve Bank of India was the chief guest.
On this occasion NPCI gave awards to several urban cooperative banks for their exceptional initiatives in the field of IMPS systems as B P Kanungo in his speech said, “Small daily improvements over time leads to stunning results. NPCI was envisioned as an umbrella organisation for smooth and secure transactions. The national financial switch in a vast country like India is proof of the large potential that the ATMs network have brought in”, he added.
The largest Urban Cooperative Bank of India Saraswat Cooperative Bank was applauded and given special recognition for its excellent performance in the fields of RuPay, NFS ATM Network, CTS and Instant Payment Products (UPI+IMPS+USSD+BHIM).
SVC Cooperative Bank –the third largest after Saraswat and Cosmos Bank has been awarded for its outstanding performance in NFS ATM Network & CTS. Abhudaya Co-op Bank also bagged the award of special recognition for its performance in RuPay, NFS ATM Network and CTS.
Gujarat based UCB Kalupur Commercial Co-op Bank was also recognized for its performance in RuPay, NFS ATM Network & CTS. Punjab & Maharashtra Co-op Bank bagged award for its outstanding performance in RuPay, NFS ATM Network & UPI/IMPS.
TJSB Sahakari Bank has been awarded for its excellent performance in RuPay, NFS ATM Network & CTS.
In his speech, B Mahapatra, Chairman, NPCI said, “The govt and the regulator (RBI) has accepted the vision to have a digital and cashless India. NPCI has set for itself its vision to be the best payment services system globally.”
Shri V G Kannan, Chief Executive, Indian Bank’s Association is quoted saying “Even now many countries haven’t used IMPS systems yet and we have a head start in field. We need to do away with cheque system and card system and resort to UPI system in order to avoid fraud.”