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The National Payments Corporation of India (NPCI), incorporated by the Reserve Bank of India, functions as a hub for all electronic retail payment systems in the country. These retail payment systems include a diverse range of products, delivery channels, service providers and technology solutions. The NPCI facilitates an affordable payment mechanism that benefits all member banks and their customers.

The NPCI’s service portfolio includes,
  • National Financial Switch (NFS)
  • Immediate Payment Service (IMPS) provided to 59 member banks
  • National Automated Clearing House
  • Aadhaar Payments Bridge System (APBS)
  • Aadhaar-enabled payment system (AEPS)
  • Interoperable Financial Inclusion System (IFIS)
  • Cheque Truncation System (CTS)
  • Express Cheque Clearing System
  • Domestic Card Scheme - RuPay

Alankit is engaged with the implementation and management of the Paper to Follow (P2F) Process for NPCI’s Cheque Truncation System (CTS). This initiative by NPCI supports the compression of the cheque clearing cycle, providing faster clearance of cheques. This is done by capturing electronic images of cheques and transmitting them across banks.

Frequently Asked Questions About NPCI

The P2F process is an important part of the Cheque Truncation System (CTS); it is an initiative of the NPCI that compresses the clearing cycle to provide faster clearance of cheques.
Alankit aids in the implementation and management of the Paper to Follow (P2F) Process for the Cheque Truncation System through its comprehensive network of offices. The company simplifies procedures for Indian citizens to have easier access to their money in times of urgency.
Any deviation in the P2F process may cause inconvenience to member banks and customers. The time taken by a member bank to resolve issues pertaining to P2F may be extensive.
The procedure begins with segregating physical instruments on an ongoing basis during the presentation session.
The Centre representative has to take due steps such as, wear an ID card at all times, ensure outsiders entering the premises sign in the register, keep instruments in an orderly manner and ensure the bank representative remains in the bank until the P2F session is declared closed.
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