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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
The International Financial Services Centres Authority ( IFSCA) is the regulatory body for the Indian special economic zones such as the GIFT International Financial Services Centre for International Financial Services and commodity markets under the ownership of the Government of India. [ 3] It was established in 2020, under the International ...
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [ 1][ 2] It is used on mobile devices to instantly transfer ...
National Payments Corporation of India (NPCI) is an Indian state-owned organization that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Immediate Payment Service ( IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. The service is available 24/7 throughout the year including bank holidays. National Electronic Funds Transfer (NEFT) was also made available 24/7 from ...
HDFC Bank Limited. HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. [ 9][ 10][ 11] The Reserve Bank of India (RBI) has identified the HDFC Bank, State ...
Indian Railway Catering and Tourism Corporation (IRCTC) in collaboration with the Union Bank of India and the National Payment Corporation of India launched the IRCTC-UBI RuPay pre-paid card in 2015 to book tickets, do shopping and pay service bills. The card is the first of its kind in the market, as both virtual and physical cards are issued ...
Housing Development Finance Corporation. Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. [ 9][ 10] It was the biggest housing finance company in India. [ 11] It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate ...