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MicroSave, NPCI enters MoU

Financial inclusion consultant MicroSave and National Payments Corporation of India have entered in a memorandum of understanding to initiate collaboration to support the Jan Dhan Yojana, boost digital transactions and to accelerate creation of less-cash economy in India through RuPay, IMPS, AePS and UPI. NPCI will work with commercial banks and will be supported by MicroSave in this programme. MicroSave associate director Puneet Chopra said the association is to collaboratively move forward the vision of financial inclusion and a digital and a cashless India. He said India is well on its way to create a proven blueprint for the world for micro payments, nano credit and a host of financial services for the masses. NPCI MD and CEO A.P. Hota said the partnership would bring NPCI closer to its objective of a less-cash society. NPCI’s vision is to touch every Indian with one or more of the electronic payment products by 2020, he said.

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