{"id":8929,"date":"2022-04-11T09:38:45","date_gmt":"2022-04-11T04:08:45","guid":{"rendered":"https:\/\/cashfree.com\/blog\/?p=8929"},"modified":"2023-03-07T19:13:24","modified_gmt":"2023-03-07T13:43:24","slug":"top-booster-shots-driving-financial-inclusion-in-india","status":"publish","type":"post","link":"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/","title":{"rendered":"Policy Radar: Top Booster Shots Driving Financial Inclusion in India"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a8ee47d72200\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #364250;color:#364250\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #364250;color:#364250\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a8ee47d72200\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#Budget_2022_75_Digital_Banking_Units_to_be_set_up\" >Budget 2022: 75 Digital Banking Units to be set up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#New_NACH_Mandates\" >New NACH Mandates<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#Authentication_on_Aadhaar-based_NACH\" >Authentication on Aadhaar-based NACH&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#Increased_limit_for_TReDs\" >Increased limit for TReDs<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#eRUPI_limit_hiked_to_%E2%82%B91_lakh\" >eRUPI limit hiked to \u20b91 lakh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#Our_worthy_mentions\" >Our worthy mentions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#The_power_of_UPI_now_in_Nepal\" >The power of UPI, now in Nepal&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#IFSCA_Fintech_Incentive_scheme\" >IFSCA Fintech Incentive scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#NPCI_NFinite_Marketplace\" >NPCI NFinite Marketplace<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/#What_to_expect\" >What to expect<\/a><\/li><\/ul><\/nav><\/div>\n\n<p class=\"wp-block-paragraph\">The payments and banking landscape has seen a constant evolution over the last few years. From UPI to BaaS, and everything in between, innovation in fintech has been making a great impact on businesses and consumers alike.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This innovation has transformed the way financial services are carried out today &#8211; which means, an intervention in the form of policies from regulatory bodies is in order. To keep pace with the evolving industry, old policies are reviewed and certain new ones are introduced.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a fintech company, we at Cashfree Payments understand what these policies are and how they can directly influence businesses and consumers. And, our aim with this series is to help you make sense of the same.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, let\u2019s jump right in!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Budget_2022_75_Digital_Banking_Units_to_be_set_up\"><\/span><strong>Budget 2022<\/strong>:<strong> 75 Digital Banking Units to be set up<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The most awaited event of the year, the Union Budget 2022, made a number of promising announcements for the payments industry.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Digital Banking Units (DBU) are to be set up by Scheduled Commercial Banks in 75 districts, pushing BaaS led financial inclusion<br><\/li>\n\n\n\n<li>Post offices across the country are to be integrated with Core Banking System (CBS), enabling easy account access and online fund transfers between post office and bank accounts&nbsp;<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"770\" height=\"969\" data-attachment-id=\"8932\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/budget-impact_policy-radar_cashfree-payments\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?fit=1200%2C1510&amp;ssl=1\" data-orig-size=\"1200,1510\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Budget-Impact_Policy-Radar_Cashfree-Payments\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?fit=770%2C969&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments-814x1024.png?resize=770%2C969&#038;ssl=1\" alt=\"\" class=\"wp-image-8932\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?resize=814%2C1024&amp;ssl=1 814w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?resize=238%2C300&amp;ssl=1 238w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?resize=768%2C966&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/Budget-Impact_Policy-Radar_Cashfree-Payments.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\"><strong>(RELATED READ: <a href=\"https:\/\/cashfree.com\/blog\/payments-digest-by-cashfree-november-2021-regulating-digital-lending-neobanks\/#PART_I_Proposals_for_regulating_Digital_Banks_the_larger_implications_for_fintech_services\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">RBI and Niti Aayog to regulate digital banks and neobanking services<\/mark><\/a>)<\/strong><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_NACH_Mandates\"><\/span><strong>New NACH Mandates<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There have been multiple steps to push NACH as a device for recurring payments and bulk payouts. And, each one of these steps open up new use cases &#8211; like <a href=\"https:\/\/cashfree.com\/blog\/payments-digest-by-cashfree-june-2021-enabling-daily-nach\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">daily NACH<\/mark><\/a> (enabling on-time loan collections).&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the NACH limit enhanced to \u20b910 lakh, higher value use cases come to light. And, two new updates have been introduced to increase NACH\u2019s reach and efficiency.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Authentication_on_Aadhaar-based_NACH\"><\/span>Authentication on Aadhaar-based NACH&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Creating a mandate for recurring payments via NACH needs compulsory authentication first. Normally, you would do this via debit card or netbanking. While e-sign is another option, it isn\u2019t as widely used as the other two.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>And now, NPCI has introduced Aadhaar number + OTP as an option.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This enables newer segments to access NACH, specifically those who don\u2019t have a debit card or netbanking, but have their Aadhaar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aadhaar is also being used in UPI onboarding instead of debit cards alone.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Increased_limit_for_TReDs\"><\/span>Increased limit for TReDs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">TReds, a platform that facilitates financing and discounting of MSME trade receivables, uses NACH for settlements between financiers, MSME sellers, and corporate buyers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The limit for settlements is enhanced from \u20b91 crore to \u20b93 crore.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This meets the growing liquidity needs of MSMEs, as well as facilitates the requests received from the TReDs platform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"eRUPI_limit_hiked_to_%E2%82%B91_lakh\"><\/span><strong>eRUPI limit hiked to \u20b91 lakh<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Launched in July 2021, eRUPI is a prepaid voucher disbursed in bulk as a QR code or SMS string. eRUPI allows consumers to utilise one-time use, non-reloadable vouchers, without downloading any app or KYC, even if they don\u2019t have a bank account or a smartphone.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Currently, this has been hiked only for government sponsors.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since the previous cap was \u20b910,000, use cases were limited to low value transactions. With the announcement of the new upper limit being \u20b91 lakh, the possibilities increase.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bonus: This change also allows the eRUPI voucher to be used multiple times until complete redemption.&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"770\" height=\"504\" data-attachment-id=\"8937\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/top-booster-shots-driving-financial-inclusion-in-india\/erupi-limit-hike-policy-radar_cashfree-payments\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?fit=1200%2C785&amp;ssl=1\" data-orig-size=\"1200,785\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?fit=770%2C504&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments-1024x670.png?resize=770%2C504&#038;ssl=1\" alt=\"\" class=\"wp-image-8937\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?resize=1024%2C670&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?resize=300%2C196&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?resize=768%2C502&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/04\/eRuPi-Limit-Hike-Policy-Radar_Cashfree-Payments.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What more can help us<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>We know that an eRUPI voucher can now be used multiple times. But, we need clarity on whether the same voucher can be used with one or multiple merchants.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To further enable businesses and customers, it would be very beneficial if the changes on the eRUPI voucher can be extended to corporate companies as well.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Such a step, along with introducing the promised P2P use cases for all sponsors, will open endless possibilities with eRUPI &#8211; corporate gifting, transit, payroll, student cards, forex travel cards, and so much more!<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Our_worthy_mentions\"><\/span><strong>Our worthy mentions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_power_of_UPI_now_in_Nepal\"><\/span>The power of UPI, now in Nepal&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">NPCI collaborated with Nepal\u2019s Gateway Payments Service Private Limited and Manam Infotech Private Limited,&nbsp; to deploy <a href=\"https:\/\/cashfree.com\/blog\/upi-global\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">UPI for businesses in Nepal<\/mark><\/a>. This is to enable real-time P2P and P2M transactions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>This makes Nepal the first country to have adopted our beloved UPI as a payment mode.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This partnership is expected to catalyse financial inclusion in Nepal, while advancing real-time, cross-border P2P remittances between Nepal and India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IFSCA_Fintech_Incentive_scheme\"><\/span>IFSCA Fintech Incentive scheme<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This new scheme provides financial assistance to domestic and foriegn fintech players including participants in the IFSCA\u2019s sandboxes, cohorts, accelerators, etc., up to \u20b975 lakh.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The scheme will initially be operational for 3 years, and it aims to establish a world class fintech hub, at par with advanced international financial centres elsewhere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The grant is issued for various purposes &#8211; startup, proof-of-concept, sandbox, ESG, accelerator, and listing support.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NPCI_NFinite_Marketplace\"><\/span>NPCI NFinite Marketplace<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">NPCI launched a marketplace for APIs to enable fintech startups and other API consumers to collaborate, conceptualise, and build API-based financial solutions. It is a developer environment created for corporates, banks, start-ups, technology platforms, developers, and academia of the world.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The use-cases include banking, payments, KYC, payment collections and payouts, credit scoring, etc.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_expect\"><\/span><strong>What to expect<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">With major advancements in the payments space, we can foresee the simplification of everyday financial services. While policies apply where regulations become necessary, it is undeniable that the governing bodies are pushing bounds to make things easier for innovators, businesses, as well as consumers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We can certainly anticipate newer reforms in the coming years that not only monitor financial services, but also help move these services by leaps and bounds.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><em>This edition has been assisted by Urmil Shah (intern) and edited by Harshitha Rao.<\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\"><strong>Bibliography<\/strong>:<\/mark><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">IFSCA Notification: Fintech Incentive Scheme, IFSCA\/2021-22\/GN\/022, February 02, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">NPCI Circular: E-mandate scope &amp; limit enhancement, NPCI\/2020-21\/NACH\/Circular No.010, dated July 15, 2020<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">NPCI Circular: E-mandate through Aadhaar based authentication, NPCI\/2021-22\/NACH\/Circular No. 009, dated February 10, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">NPCI Circular: Increasing the mandate limit for TReDS, NPCI\/2021-22\/NACH\/Circular No. 010, dated February 11, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">NPCI Press Release: NPCI International, Gateway Payment Service, and Manam Infotech join hands to deploy UPI solution in Nepal, dated February 17, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">RBI Notification: Regulations Review Authority (RRA 2.0) \u2013 Interim Recommendations \u2013 Withdrawal of Circulars, RBI\/2021-2022\/164, dated February 18, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">RBI Occasional Paper: Payment and Settlement Systems Regulations, 2008 as Amended up to 2022, dated February 23, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">RBI Press Release: Statement on Developmental and Regulatory Policies, 2021-2022\/1694, dated February 10, 2022<br><\/mark><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-cyan-bluish-gray-color\">RBI Press Release: Regulations Review Authority (RRA 2.0) &#8211; Interim Recommendations- Second tranche, 2021-2022\/1738, dated February 18, 2022<\/mark><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The payments and banking landscape has seen a constant evolution over the last few years. From UPI to BaaS, and everything in between, innovation in fintech has been making a great impact on businesses and consumers alike.&nbsp; This innovation has transformed the way financial services are carried out today &#8211; which means, an intervention in<\/p>\n","protected":false},"author":11,"featured_media":8956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,1412],"tags":[1499,3574,3568,3571],"class_list":["post-8929","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all","category-policy","tag-banking-as-a-service","tag-npci","tag-policy","tag-rbi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Policy Radar Feb&#039;22: Top Booster Shots Driving Financial Inclusion in India<\/title>\n<meta name=\"description\" content=\"Your monthly dose of all policy related updates for the payments industry. 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