Report by Odisha Diary bureau, Mumbai: National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in the country enablesover 200 District Central Co-operative Banks (DCCBs) under RuPay Debit Card network.
With this development, NPCI now digitises about two-thirds of 675 districtsin the country through its network of Regional Rural Banks (RRBs), State Cooperative Banks, Urban Cooperative Banks and Scheduled Cooperative Banks withelectronic payment mechanisms.Major states covered are Maharashtra, Uttar Pradesh, West Bengal, Uttarakhand, Andhra Pradesh, Bihar, Karnataka, Gujarat, Kerala, Odisha, Haryana, Himanchal Pradesh, Chhattisgarh, Punjab, Rajasthan and Telangana.
Mr. A P Hota, MD & CEO, NPCI said, “Participation of DCCBs is gradually bridging the gap between India and Bharat while facilitating Financial Inclusion initiatives for the country. RuPay’s customised services are aimed totransform our cash dependent economy.
It addresses the need of Indian consumers, merchants and banks. NPCI is fully aligned with the RBI’s Vision of building a ‘Less Cash India’. Customers of DCCBs experience state-of-the-art services. Over 280 million RuPay card holdershave an access to 2.2 lakh plus ATM’s and over 1.2 lakh Point of Sale (PoS) terminals across the country.
Role on DCCBs on Banking Industry District Central Cooperative Banks (DCCBs) are vital banking pillar that holds together the tier 3 credit structure comprising of Primary Agriculture Credit Socieites (PACs) & State Cooperative Banks.
They are the most localised financial institutions, mandated to serve the local banking requirements.They are instrumental in providing financial support / capacity building to the agriculture sector and other local cooperative societies.