NPCI's dilemma

Rock. NPCI. Hard Place.

Banks, NITI Aayog, RBI, apps. The NPCI is being pulled in too many directions. The launch of BHIM Aadhaar proves it


On 14 April, just 105 days after he surprised India’s banking and fintech sectors by announcing BHIM, a government-backed payments app, Prime Minister Narendra Modi dug in his heels.

At a government-funded lucky draw function in Nagpur to reward customers and businesses for using digital payment methods, Modi launched another payments platform—BHIM Aadhaar. The day was also the birth anniversary of Bhimrao Ambedkar, the father of India’s constitution and on whose name BHIM is based.

There was now a BHIM line of products. The original BHIM meant for smartphone and feature phone users. And now BHIM Aadhaar, for those…

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