#2MillionIMPS – The 5 am Club

          The warm up challenge round for #2MillionIMPS is just 2 days away.   

         Today’s inspirational tips are based on Robin Sharma’s ‘5 am club’ simple 60 minute morning rituals.

Please drop in at the Event Page. In case you require reminders leave a comment, and I will remind you on 25/12/2015

          The only focus is #2MillionIMPS on 25/12/2015-Nothing More, Nothing Less

#1. Know Your Cause

Encouraging tip for #2MillionIMPs:-

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Draft Framework on Electronic Payments and Receipts for Government Departments:-

Apex Committee on Digital India under the Chairmanship of Cabinet Secretary has mandated a targeted approach to implement electronic payments and receipts across all Government Ministries and Departments.

In this regard, DeitY has prepared this framework, intended for all central and state ministries, departments and government agencies for expeditiously implementing appropriate mechanism to enable electronic payments and receipts.

The objective of this framework is to provide guidelines for departments to:

• Assess various services involving payments and receipts by types of services and level of electronic payment enablement
• Provide actionable instructions for universal adoption of electronic payment modes for each type of service through various payment channels.
• Provide information on engagement with various payment service providers.
• Provide details of the generic portal that DeitY is launching to host a repository of forms of departments for availing services with payment integration.

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#2. Relate to Your Base.

Encouraging tip for #2MillionIMPs:-

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“With unique feature of instant confirmation and its availability on weekends and holidays, IMPS became consumers’ first choice for doing financial transactions across the country. With introduction of IMPS for Eko Wallets, Eko has broadened the base for wallet usage and will increase business by leveraging IMPS,”  said A. P. Hota, Managing Director and Chief Executive Officer, National Payments Corporation of India (NPCI).

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#3. Rise to Original.

Encouraging tip for #2MillionIMPs:-

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Mobile payments

NPCI is working on upgrading and simplifying the existing IMPS system, which is likely to take shape by January.

"In IMPS you can send money instantaneously. But suppose one would like to collect money instantaneously. That would be possible in the new system. We have also tried to dissociate authentication and identity verification. Registration formalities have been tightened. Also, the payment processing service provider is not necessarily your bank. An account can be with one bank but the transaction routing can be through another bank," Hota said.

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#4. Get Scary Good.

Encouraging tip for #2MillionIMPs:-

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National Payments Corporation of India (NPCI) has geared up to launch Immediate Payment Service (IMPS), an interbank remittance processing service, across all the 56 regional rural banks (RRBs) by March 2016.

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#5. Build in Virality.

Encouraging tip for #2MillionIMPs:-

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United Bank of India launches IMPS based cash remittance facility through Banking Correspondents (Bank Mitras) hand held device :-

It’s also expecting good response to its IMPS (immediate payment service) based cash remittance facility. The IMPS based cash remittance feature provides the convenience of transferring money to anyone anywhere in the country having an account with any bank. Bank Mitras engaged by UBI are empowered to undertake this service. This service can be availed by any person with or without an account with United Bank of India, the bank said, adding that the transfer will happen instantly and confirmation will be received via SMS. The facility is available 24/7. This service will benefit the migrant population who are prone to remit money through unreliable /informal sources, bank officials said.

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#6. Protect the Brand.

Encouraging tip for #2MillionIMPs:-

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Training in payment systems

South Indian Bank, in association with National Payments Corporation of India (NPCI), organised Finspire, a training programme on the latest payment systems. NPCI is an umbrella institution for all the retail payments in the country. RuPay debit cards, Immediate Payment Service (IMPS), Aadhar enabled payment system (AePs), and Cheque Truncation System (CTS) are a few among the payment offering systems. The programme was inaugurated by Vinod Manjila, Managing Director, Manjilas Foods. It was led by Anup Nayar, Vice-President & Head of Business Development, and Ramesh Vijayakumar, Senior Manager-Business Development of NPCI.

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#7. Remain Indispensable.

Encouraging tip for #2MillionIMPs:-

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Overview of NPCI_IMPS @ http://imps.npci.org.in/home.asp

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#8. Always Give Back.

Encouraging tip for #2MillionIMPs:-

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IMPS Is Five: Time To Tap Unrealized Potential

Yesterday, Immediate Payment Service (IMPS) in India completed five years of its existence. It was on 22 November 2015 that National Payment Corporation of India had launched this real time money transfer service in association with some member banks.

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