• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

Devaluation Smartbuy 5% Cashback on train booking is gone ,Is there any other alternative ?

Apply For Lifetime Free IDFC First Credit Card
Sort by date Sort by votes
Avinash.Mishra said:
NCPI is a private company the push from government is to support indian card network so that profits remain in the country which will boost the economy.

Cloud is no magic pill it provides same infrastructure as you will have in an on premises data centre, it provides infrastructure as a service so you just have to pay the subscription cost and the initial investment to setup a data centre and operational overhead to maintain it is reduced. The only real advantage you get is you don’t have to perfectly size your system and as in cloud load balancers can scale up and scale down your infrastructure based on load.

Coming to integration of Rupay with banking systems integrating any software/API is never a one way task both software vendor and client have work on it together as there’s no one size fits all in software enterprise.

NCPI is doing great work and UPI is one of the key innovations in world banking and finance.

It was government’s desire to cut dependence on foreign card networks that gave birth to NCPI and for the same reasons government is trying to push it via mandates and circulars some of them are fair practices and some unfair( like pushing PSU to issue most cards on Rupay network )
Click to expand...
It's NPCI, not NCPI.

Every country’s govt promotes its local payment network, but that doesn’t mean we should start calling it a govt company.

Visa/Mastercard aren’t considered U.S. government companies even though they are US govt-backed.

Currently, 99% of UPI transactions are processed by banks, meaning all UPI transactions are handled by banks. Creating a separate cloud infrastructure will reduce the load on banks, which in turn will reduce UPI transaction failures.

You’ll find many articles on this topic online. The U.S.-based 'FEDNOW' often proudly claims that their instant payment system is the best in the world because it’s a cloud-based instant payment system.

This circular about equal rewards on RuPay credit card UPI was decided by NPCI’s committee members in the last meeting.

The committee includes members from HDFC, ICICI, Axis, HSBC, PNB, BOB, and other independent committee members from institutions like IIM Bangalore, IIT Bombay, etc.

The government didn’t decide any of this.

Remember, if the govt does something, the circular will come from the govt and will be on the finance ministry's website, not from NPCI.

Fair practices and some unfair -

Now for PSU banks issuing RuPay cards, the govt owns PSU banks but doesn’t own NPCI.

It’s fair for PSU banks to be told to issue only RuPay cards.

So, what’s unfair?

The zero MDR on RuPay debit cards—imposing this was an unfair practice by the govt.

Yes, the govt could impose zero MDR on cards for govt schemes like Jan Dhan Yojana RuPay cards, Kisan RuPay cards etc., because the govt covers those costs.

However, NPCI bears the costs for RuPay Classic, Platinum and Select debit cards, so it’s unfair for the govt to force a private company to apply zero MDR.

Oh, one last thing, you’ll find the circular about zero MDR on the govt’s website, because the govt had decided that. Whatever the govt decides will be available on the govt website, not on the NPCI site.
 
Upvote 0 Downvote
Abhishek012 said:
It's NPCI, not NCPI.

Every country’s govt promotes its local payment network, but that doesn’t mean we should start calling it a govt company.

Visa/Mastercard aren’t considered U.S. government companies even though they are US govt-backed.

Currently, 99% of UPI transactions are processed by banks, meaning all UPI transactions are handled by banks. Creating a separate cloud infrastructure will reduce the load on banks, which in turn will reduce UPI transaction failures.

You’ll find many articles on this topic online. The U.S.-based 'FEDNOW' often proudly claims that their instant payment system is the best in the world because it’s a cloud-based instant payment system.

This circular about equal rewards on RuPay credit card UPI was decided by NPCI’s committee members in the last meeting.

The committee includes members from HDFC, ICICI, Axis, HSBC, PNB, BOB, and other independent committee members from institutions like IIM Bangalore, IIT Bombay, etc.

The government didn’t decide any of this.

Remember, if the govt does something, the circular will come from the govt and will be on the finance ministry's website, not from NPCI.

Fair practices and some unfair -

Now for PSU banks issuing RuPay cards, the govt owns PSU banks but doesn’t own NPCI.

It’s fair for PSU banks to be told to issue only RuPay cards.

So, what’s unfair?

The zero MDR on RuPay debit cards—imposing this was an unfair practice by the govt.

Yes, the govt could impose zero MDR on cards for govt schemes like Jan Dhan Yojana RuPay cards, Kisan RuPay cards etc., because the govt covers those costs.

However, NPCI bears the costs for RuPay Classic, Platinum and Select debit cards, so it’s unfair for the govt to force a private company to apply zero MDR.

Oh, one last thing, you’ll find the circular about zero MDR on the govt’s website, because the govt had decided that. Whatever the govt decides will be available on the govt website, not on the NPCI site.
Click to expand...
There was typo and although I had never said NCPI is a government agency but if want to get into details NCPI is essentially a PSU check the promoters. It was established by RBI under companies act 2008 under the directive of ministry of finance and later a consortium of 10 banks joined as promoters 6 PSU and 4 private banks. The consortium was further expanded by diluting the share holdings and now it has 67 promoters but top 10 shareholders hold 77% stake that are mainly PSU so by shareholding pattern it’s essentially a government company (PSU).
 
Upvote 0 Downvote
Avinash.Mishra said:
There was typo and although I had never said NCPI is a government agency but if want to get into details NCPI is essentially a PSU check the promoters. It was established by RBI under companies act 2008 under the directive of ministry of finance and later a consortium of 10 banks joined as promoters 6 PSU and 4 private banks. The consortium was further expanded by diluting the share holdings and now it has 67 promoters but top 10 shareholders hold 77% stake that are mainly PSU so by shareholding pattern it’s essentially a government company (PSU).
Click to expand...
Yes, but among the committee members, not all member banks are always present when these circulars are decided. Most of the time, besides member banks, experts from other banks, payment gateways, and fintech companies are also invited.

For example, currently experts from Pinelabs, Razorpay Gateway, OneCard, PhonePe, and GPay are also included as committee members for RuPay and UPI.

They provide new ideas, discuss new features, and make decisions on various matters.

The govt doesn’t decide all this. And as I mentioned, if the govt decide anything, any circular will be issued on the finance ministry’s website, not on NPCI's site.
 
Upvote 0 Downvote
Avinash.Mishra said:
There was typo and NCPI is essentially a PSU check the promoters. It was established by RBI under companies act 2008 under the directive of ministry of finance and later a consortium of 10 banks joined as promoters 6 PSU and 4 private banks. The consortium was further expanded by diluting the share holdings and now it has 67 promoters but top 10 shareholders hold 77% stake that are mainly PSU so by shareholding pattern it’s essentially a government company (PSU).
Click to expand...

Abhishek012 said:
Yes, but among the committee members, not all member banks are always present when these circulars are decided. Most of the time, besides member banks, experts from other banks, payment gateways, and fintech companies are also invited.

For example, currently experts from Pinelabs, Razorpay Gateway, OneCard, PhonePe, and GPay are also included as committee members for RuPay and UPI.

They provide new ideas, discuss new features, and make decisions on various matters.

The govt doesn’t decide all this. And as I mentioned, if the govt decide anything, any circular will be issued on the finance ministry’s website, not on NPCI's site.
Click to expand...
External directors and board members hold a non executive post they suggest but can’t take decisions. Government doesn’t intervene directly that’s how governance structure of all PSUs work but they do intervene indirectly when it wants.
 
Apply For LTF HDFC Swiggy Credit Card
Upvote 0 Downvote
Avinash.Mishra said:
External directors and board members hold a non executive post they suggest but can’t take decisions. Government doesn’t intervene directly that’s how governance structure of all PSUs work but they do intervene indirectly when it wants.
Click to expand...
Decisions are made collectively. The govt has no role in NPCI's circulars.

NPCI is not a PSU. NPCI operates like any other corporate private companies. They make employees work for 15-16 hours and fire them whenever they want.

Recently, there was news that NPCI's work culture had become toxic.

Then NPCI said, Okay, fine, by March 2025, we will double the number of our employees. 🤣🤣
 
Upvote 0 Downvote
Abhishek012 said:
Direct link for HDFC IRCTC RuPay credit card - https://applyonline.hdfcbank.com/ca...CHANNELSOURCE=IRCT&UTM_CAMPAIGN=NPCIRUPAY#nbb

If you want to apply any RuPay credit card, visit here RuPay site and get some cards direct apply link - https://www.rupay.co.in/

@ShankarW
@Pack_of_Cards
Click to expand...
"It seems that you have recently applied for a credit card. Hence we will not be able to proceed with your current application."

Which is a shame because this is one of the really sensible RuPay cards and suits my use case perfectly because I travel quite a bit by train.
 
Upvote 0 Downvote
Abhishek012 said:
Decisions are made collectively. The govt has no role in NPCI's circulars.

NPCI is not a PSU. NPCI operates like any other corporate private companies. They make employees work for 15-16 hours and fire them whenever they want.

Recently, there was news that NPCI's work culture had become toxic.

Then NPCI said, Okay, fine, by March 2025, we will double the number of our employees. 🤣🤣
Click to expand...
PSU doesn’t mean lazy employees who are slacking. Any company where government of India is a major stakeholders is termed as a PSU.
 
Upvote 0 Downvote
Abhishek012 said:
Direct link for HDFC IRCTC RuPay credit card - https://applyonline.hdfcbank.com/ca...CHANNELSOURCE=IRCT&UTM_CAMPAIGN=NPCIRUPAY#nbb

If you want to apply any RuPay credit card, visit here RuPay site and get some cards direct apply link - https://www.rupay.co.in/
Click to expand...
1731060655359.webp
Can't apply same message every time be it HDFC IRCTC or Tata Neu Infinity, although I have not applied for any HDFC card from past one year. Last year only upgraded to DCP. Cust Care has no idea they say if you are eligible you will be able to proceed otherwise you are not eligible.
 
Upvote 0 Downvote
rogerthat said:
"It seems that you have recently applied for a credit card. Hence we will not be able to proceed with your current application."

Which is a shame because this is one of the really sensible RuPay cards and suits my use case perfectly because I travel quite a bit by train.
Click to expand...
Same old HDFC bullshit, same message for me
 
Upvote 0 Downvote
Avinash.Mishra said:
PSU doesn’t mean lazy employees who are slacking. Any company where government of India is a major stakeholders is termed as a PSU.
Click to expand...
This does not mean NPCI is PSU.

NPCI is register under non-govt company. "Non-Govt" refers to private companies or public companies that are not owned or controlled by the govt.

NPCI has been created in the same way as Visa/Mastercard.

Also almost all other local scheme cards in the world are created in the same way, except for a few.

If NPCI is a PSU, there would be a huge outcry now, with people accusing the govt of selling NPCI to private companies, because NPCI has sold some percentage of its shares to several Indian and American private companies including Amazon and Walmart's Phonepe.

And I don't want to bring politics into this, but trust me dude, the left-wing people never miss an opportunity to accuse the right-wing party. 🤣🤣
 
Upvote 0 Downvote
Abhishek012 said:
This does not mean NPCI is PSU.

NPCI is register under non-govt company. "Non-Govt" refers to private companies or public companies that are not owned or controlled by the govt.

NPCI has been created in the same way as Visa/Mastercard.

Also almost all other local scheme cards in the world are created in the same way, except for a few.

If NPCI is a PSU, there would be a huge outcry now, with people accusing the govt of selling NPCI to private companies, because NPCI has sold some percentage of its shares to several Indian and American private companies including Amazon and Walmart's Phonepe.

And I don't want to bring politics into this, but trust me dude, the left-wing people never miss an opportunity to accuse the right-wing party. 🤣🤣
Click to expand...
Every PSU is non government they are public companies to be a government company it has to be wholly owned by government like BSNL.
 
Upvote 0 Downvote
Avinash.Mishra said:
Every PSU is non government they are public companies to be a government company it has to be wholly owned by government like BSNL.
Click to expand...
People are very eager to get jobs in govt or PSU companies because they offer govt benefits, pension etc.

NPCI is a private company, so it doesn't provide govt benefits.

If NPCI is a PSU, then India needs more such PSU companies in banking, telecom, space agencies, and defense R&D hubs. 😀😀
 
Upvote 0 Downvote
Abhishek012 said:
People are very eager to get jobs in govt or PSU companies because they offer govt benefits, pension etc.

NPCI is a private company, so it doesn't provide govt benefits.

If NPCI is a PSU, then India needs more such PSU companies in banking, telecom, space agencies, and defense R&D hubs. 😀😀
Click to expand...

National Payments Corporation of India - Wikipedia

en.m.wikipedia.org en.m.wikipedia.org

Regarding pension people employed before 2010 are eligible for bank pension scheme which is known as ‘Pension’ new employees get EPS provided EPFO on pro rata basis of contribution made.
 
Upvote 0 Downvote
You must log in or register to reply here.
Back
Top