National Payments Corporation of India has institutionalized ‘National Payments Excellence Awards 2014 to recognize outstanding achievements in operating various payment systems. H.R. Khan, deputy governor, Reserve Bank of India, was the chief guest at the award ceremony held in Mumbai recently. M. Balachandran, chairman, and A.P. Hota, MD & CEO, NPCI, and T.M. Bhasin, chairman, IBA, were among the dignitaries present on the occasion. Awards were presented to banks under four categories – National Financial Switch (NFS), Cheque Truncation System (CTS), Immediate Payment Service (IMPS) and Automated Clearing House (ACH) system. Special awards were also given for issuance and acquiring of RuPay cards and launching innovative payment products using NPCI services as platforms. NPCI had constituted an eminent and independent panel of jury for building the framework and monitoring the evaluation process. Hota said the awards mark the initiatives of NPCI in creating new benchmarks in payments processing.
