NPCI spins off BHIM into a new entity amid foreign UPI app dominance

Quick Summary:

Launched in December 2016, BHIM processed transactions worth Rs 8,096 crore in July 2024 from 2.34 crore transactions as per UPI ecosystem data from NPCI.

Lalitha Nataraj as CEO and Rahul Handa as CBO will lead the new company NPCI BHIM Services Ltd or NBSL.

However, NPCI extended the deadline for compliance to December 31, 2024, citing the need to avoid disruption to UPI's growth trajectory.

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Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Transactions December Bhim Data Share Market Payments Information Privacy Npci Crore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 13:47:20 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 352 words

Reading Time: 2 minutes read

Sentences: 22 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 22065654

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