Beruflich Dokumente
Kultur Dokumente
Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) (2005) Department of Payment and Settlement Services (DPSS)
bulk and repetitive payment requirements (like salary, interest, dividend payments) of corporates and other institutions faster method of effecting periodic and repetitive collections of utility companies Batch settlements at hourly intervals Transfer of money takes place from one bank to another on a "real time" and on "gross" basis. Real time means payment is not subjected to any waiting period. Gross means the transaction is settled on one to one basis without bunching or netting with any other transaction.
ECS Debit
enable the formal financial sector to more easily and efficiently reach disadvantaged Indian households and offer modern financial products. ensure that every poor household in India - approximately 80 to 100 million - will have unparalleled access to secure and convenient benefits directly from the government, and without the interference of intermediaries. allow greater penetration into rural India where traditional payment systems remain woefully inadequate in terms of reliability greater participation from poor rural citizens, and bring the Govt closer to its cherished goal of reducing poverty and hunger through its welfare, food, and housing subsidy schemes.
National Payments corporation of India (NPCI) The core objective of the NPCI
to consolidate and integrate the multiple systems with varying service levels into nation-wide uniform and standard business process for all retail payment systems. Facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion. It has been incorporated as a Section 25 company under Companies Act and is aimed to operate for the benefit of all the member banks and their customers. Function as a hub in all electronic retail payment systems
The objective behind setting up CCIL :Provide a safe institutional structure for the clearing and settlement of trades in the Government Securities, Forex (FX), Money and Debt Markets, Significantly improve efficiency in the transaction settlement process, Insulate the financial system from shocks emanating from the counterparty risks and market deficiencies of various types that currently plague the Indian financial markets. For participants of the forex market, CCIL's intermediation provides a structure to mitigate, and manage risks associated with settlement of these high-