The Journey of Payments and Clearing Systems in India
Finextra
JUNE 11, 2025
Immediate Payment Service (IMPS) (2010): NPCI launched IMPS, enabling instant 24x7 interbank fund transfers, a crucial step towards ubiquitous real-time payments. RuPay Cards (2012): NPCI launched Indias domestic card payment network, reducing reliance on international schemes and promoting domestic processing.
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