Good News - Banks now issue only RuPay cards

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abhishek012

Good News – Finance minister Nirmala Sitharaman told bankers on Tuesday to only issue RuPay cards as the first option to customers

“RuPay Card should be the only card that you must promote,” Sitharaman said

“Make sure the NPCI can become a ‘brand India’ product. Whenever issuing a card, you must first issue a RuPay (floated by NPCI) card,”

Finance minister Nirmala Sitharaman on Tuesday said banks need to promote only RuPay cards, and believes that with the card network becoming global, it is not necessary for Indian customers to be offered other cards.

This, if implemented, will affect the businesses of card networks Visa and Mastercard. There are over 600 million RuPay cards in force as of January (latest available), of the 872 million credit and debit cards in India in the same period.

RuPay, the Indian card payment network, is a product of National Payments Corp. of India (NPCI), the umbrella organisation in charge of retail payments in the country. Since savings accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) or the government’s financial inclusion programme included the issuance of RuPay cards, the number of such cards soared quickly.

“RuPay card will have to be the only card you promote. Whoever needs a card, RuPay will be the only card you would promote and I would not think it is necessary today in India when RuPay is becoming global, for Indians to be given any other card first than RuPay itself," Sitharaman told bankers at the 73rd annual general meeting of the Indian Banks’ Association (IBA).

Make sure that the NPCI becomes a brand-India product which can be promoted elsewhere in the world, she said.

She said, to the extent possible, banks must discourage non-digital payments and promote adoption of unified payments interface (UPI)-driven payments. “UPI should be a common parlance word in all our banks," said Sitharaman.

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Deal Lieutenant Deal Lieutenant
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will they give for old dc(replace)
or for new accounts

Deal Captain Deal Captain
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sravz86 wrote:

will they give for old dc(replace)
or for new accounts

Yes, Apply for new card and told them you need a RuPay card or RuPay Platinum/Select card.

Deal Cadet Deal Cadet
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MasterCard – M.s Dhoni!!!

Tech Guru Tech Guru
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Ye thikk hai, jabardasti chipka rahe hain apna product 🙄

Deal Subedar Deal Subedar
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Now rupay is giving good offers. I will replace my Visa card with Rupay Platinum card.

Deal Cadet Deal Cadet
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abhishek012 wrote:

Yes, Apply for new card and told them you need a RuPay card or RuPay Platinum/Select card.

Will HDFC now start sending rupay instead of millenia on opening insta account ? @rohit_agarwal

Deal Subedar Deal Subedar
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smz wrote:

Will HDFC now start sending rupay instead of millenia on opening insta account ? @rohit_agarwal

No…. U will get only millennia

Pro Analyst Pro Analyst
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She said that openly to issue only rupay??

Deal Captain Deal Captain
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Original wrote:

Ye thikk hai, jabardasti chipka rahe hain apna product 🙄

tumhe kya lagta ha Finance minister bol diye aur Bank wale mann jayenge. smile

Private banks jaha profit hoga wohi card issue karega.

RuPay card me Zero MDR ha, no profit. So, jab tak na iska solution Finance minister nikalti ha tab tak kuch na hoga.

Deal Captain Deal Captain
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AyushiiiVijay wrote:

She said that openly to issue only rupay??

Yes, Trump ki sarkar gaya na, America First bolne wala nhi raha ab.

Tech Guru Tech Guru
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abhishek012 wrote:

tumhe kya lagta ha Finance minister bol diye aur Bank wale mann jayenge. smile

Private banks jaha profit hoga wohi card issue karega.

RuPay card me Zero MDR ha, no profit. So, jab tak na iska solution Finance minister nikalti ha tab tak kuch na hoga.

Arre bhai iske piche bhi so raaz honge 😅

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abhishek012 wrote:

Yes, Trump ki sarkar gaya na, America First bolne wala nhi raha ab.

🤔

Ismein bhi videshi haath?

Deal Captain Deal Captain
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Original wrote:

Arre bhai iske piche bhi so raaz honge 😅

woh toh ha.

RuPay card me Zero MDR isiliye kiya tha taki banks Visa/Mastercard ko promote kare. why ?

Reason simple ha, USA (Trump Govt) humare sath tha, china k khilaf.

Trump Govt ka naara tha America First and China k sath Trade War.

China k sath USA ka Trade War means India ka faida. so hume bhi (India ko) thora bohot US companies ko favour karna tha.

Now ab Joe biden ki govt aane wala ha, Joe biden china k sath Trade War khatam karna chahta ha.

yeh just India ne warn kiya ha ki, Joe biden ki Govt agar Chinese companies ko favour karega toh hum bhi (India) Visa/Mastercard ko favour karna chorr denge.

TIT for TAT.

Deal Captain Deal Captain
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abhishek012 wrote:

woh toh ha.

RuPay card me Zero MDR isiliye kiya tha taki banks Visa/Mastercard ko promote kare. why ?

Reason simple ha, USA (Trump Govt) humare sath tha, china k khilaf.

Trump Govt ka naara tha America First and China k sath Trade War.

China k sath USA ka Trade War means India ka faida. so hume bhi (India ko) thora bohot US companies ko favour karna tha.

Now ab Joe biden ki govt aane wala ha, Joe biden china k sath Trade War khatam karna chahta ha.

yeh just India ne warn kiya ha ki, Joe biden ki Govt agar Chinese companies ko favour karega toh hum bhi (India) Visa/Mastercard ko favour karna chorr denge.

TIT for TAT.

Yes, padhlo pura @deb3l

Deal Lieutenant Deal Lieutenant
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abhishek012 wrote:

woh toh ha.

RuPay card me Zero MDR isiliye kiya tha taki banks Visa/Mastercard ko promote kare. why ?

Reason simple ha, USA (Trump Govt) humare sath tha, china k khilaf.

Trump Govt ka naara tha America First and China k sath Trade War.

China k sath USA ka Trade War means India ka faida. so hume bhi (India ko) thora bohot US companies ko favour karna tha.

Now ab Joe biden ki govt aane wala ha, Joe biden china k sath Trade War khatam karna chahta ha.

yeh just India ne warn kiya ha ki, Joe biden ki Govt agar Chinese companies ko favour karega toh hum bhi (India) Visa/Mastercard ko favour karna chorr denge.

TIT for TAT.


https://cdn0.desidime.com/attachments/photos/649060/medium/EmThG3uVcAE3eB1.jpg?1605032454

Deal Subedar Deal Subedar
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AyushiiiVijay wrote:

She said that openly to issue only rupay??

She said…Promote only RuPay card…
Promoting and issuing are two different things. Today also most PSU Banks by default issue RuPay card

Deal Newbie Deal Newbie
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abhishek012 wrote:

Good News – Finance minister Nirmala Sitharaman told bankers on Tuesday to only issue RuPay cards as the first option to customers

“RuPay Card should be the only card that you must promote,” Sitharaman said

“Make sure the NPCI can become a ‘brand India’ product. Whenever issuing a card, you must first issue a RuPay (floated by NPCI) card,”

Finance minister Nirmala Sitharaman on Tuesday said banks need to promote only RuPay cards, and believes that with the card network becoming global, it is not necessary for Indian customers to be offered other cards.

This, if implemented, will affect the businesses of card networks Visa and Mastercard. There are over 600 million RuPay cards in force as of January (latest available), of the 872 million credit and debit cards in India in the same period.

RuPay, the Indian card payment network, is a product of National Payments Corp. of India (NPCI), the umbrella organisation in charge of retail payments in the country. Since savings accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) or the government’s financial inclusion programme included the issuance of RuPay cards, the number of such cards soared quickly.

“RuPay card will have to be the only card you promote. Whoever needs a card, RuPay will be the only card you would promote and I would not think it is necessary today in India when RuPay is becoming global, for Indians to be given any other card first than RuPay itself," Sitharaman told bankers at the 73rd annual general meeting of the Indian Banks’ Association (IBA).

Make sure that the NPCI becomes a brand-India product which can be promoted elsewhere in the world, she said.

She said, to the extent possible, banks must discourage non-digital payments and promote adoption of unified payments interface (UPI)-driven payments. “UPI should be a common parlance word in all our banks," said Sitharaman.

Misleading title.

for now (although it can change anytime) for now, this is not any official ‘diktat’.
Like no circular or anything, making it illegal to issue non RuPay card as the first card to the Cx, right?
.
.
there are many MNC banks operating in India.
.
i do not even know if Nova Scotia (Scotiabank) at all even have these RuPay thing, even as a secondary option.


that aside, i’d be happy to see the pubic hair of MC and Visa on fire (out of frustration and envy)
.
Mastercard, like the crybaby it is, tried hard locally to buy out sympathisers and then even cribbed to the home country’s government .. when Bharat had first tightened the screws after RuPay launched in 2012-2013 and in later years too.
ab tou MC Visa ki jhaantey… poori tarah jal kar khaak ho jayengi

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abhishek012 wrote:

Yes, padhlo pura @deb3l

Padh liya.. ab source dedo story book  ka. sunglasses

Whatsapp wala mat de dena.. smile

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deb3l wrote:

Padh liya.. ab source dedo story book  ka. sunglasses

Whatsapp wala mat de dena.. smile

kya source, yeh common sense ki baat ha.

ish tarah k chize hote rahete ha.

Geopolitics ki news sunte rahoge toh khud idea ho jayega yeh sab.

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abhishek012 wrote:

kya source, yeh common sense ki baat ha.

ish tarah k chize hote rahete ha.

Geopolitics ki news sunte rahoge toh khud idea ho jayega yeh sab.

Achha, last time to maine geo-engineering tak hi gaya tha, jo ki ab charon aur dikhai dene lage hain.. Ye wala agli baar cover kar loonga.

But, common sense ye bhi puchhta hai, jab Rupay launch hua tha, tab to trump chicha nahin aaya tha aur naa hi dadhi wale.. phir tab visa/mc ko kis basis par yahan kuan khudwane diya? Aur ab jab paani nikal aayi, tab inhen competition se hi bahar kar rahe ho.. monopoly laane ka plan hai ya phir mota bhai ne tender daal di hai factory vactry laga ke.. ?

Deal Captain Deal Captain
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deb3l wrote:

Achha, last time to maine geo-engineering tak hi gaya tha, jo ki ab charon aur dikhai dene lage hain.. Ye wala agli baar cover kar loonga.

But, common sense ye bhi puchhta hai, jab Rupay launch hua tha, tab to trump chicha nahin aaya tha aur naa hi dadhi wale.. phir tab visa/mc ko kis basis par yahan kuan khudwane diya? Aur ab jab paani nikal aayi, tab inhen competition se hi bahar kar rahe ho.. monopoly laane ka plan hai ya phir mota bhai ne tender daal di hai factory vactry laga ke.. ?

koi monopoly nhi create kar raha ha.

Visa/Mastercard ko apne country me full access dene se saare developed or developing countries k Govt daarte ha.

Singapore, France, Germany, Russia, China, South Korea aur bhi kuch countries ha kabhi visa/Mastercard ko 100% allow nhi kiya ha apne country me.

sab ko daar raheta ha ki kahi USA sanction laga diya toh saare online Digital transaction rukk jayega.

Russia ne jab Crimea ko apne under kar liya tha toh Russia pe sanction lagne k baad, Visa/Mastercard kam karna band kar diya tha Russia me.

ustime se saare countries k govt ne socha visa/Mastercard ka alternative hona chahiye aur apne local card companies ko promote karna start kar diya.

Rahi baat mota bhai ki toh koi bhi single company 25% se jada share nhi le sakta ha, new retail payment system k liye jo bhi companies apply kar raha ha, usko time to time apna shareholding kam karte rahena hoga.

aur last baat Visa/Mastercard se bohot nuksan hota ha humare desh ko, sirf humare desh ko he nhi dusre desh o ko bhi.

humare saare neighbour countries ne bhi ab pura apne local card companies ko promote karna start kar diya ha.

Indonesia, Vietnam, Sri Lanka, Myanmar even pakistan jaise chote countries aaj India k RuPay Card k promotion ko dekh kar inspire ho kar apne countries me local cards ko promote karne ki himmat juta paya ha aur USA k sath ladh raha ha.

USA k sath ladh raha ha isiliye bola kyunki Indonesian govt. last year US govt k sath ladh liya tha aur India ka example de kar bola ki hum India k tarah apne local card company ko promote karenge.

anyways RuPay card monopoly kabhi create nhi kar payega but currently Visa/Mastercard ka monopoly ha India me aur woh khatam hona chahiye.

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abhishek012 wrote:

koi monopoly nhi create kar raha ha.

Visa/Mastercard ko apne country me full access dene se saare developed or developing countries k Govt daarte ha.

Singapore, France, Germany, Russia, China, South Korea aur bhi kuch countries ha kabhi visa/Mastercard ko 100% allow nhi kiya ha apne country me.

sab ko daar raheta ha ki kahi USA sanction laga diya toh saare online Digital transaction rukk jayega.

Russia ne jab Crimea ko apne under kar liya tha toh Russia pe sanction lagne k baad, Visa/Mastercard kam karna band kar diya tha Russia me.

ustime se saare countries k govt ne socha visa/Mastercard ka alternative hona chahiye aur apne local card companies ko promote karna start kar diya.

Rahi baat mota bhai ki toh koi bhi single company 25% se jada share nhi le sakta ha, new retail payment system k liye jo bhi companies apply kar raha ha, usko time to time apna shareholding kam karte rahena hoga.

aur last baat Visa/Mastercard se bohot nuksan hota ha humare desh ko, sirf humare desh ko he nhi dusre desh o ko bhi.

humare saare neighbour countries ne bhi ab pura apne local card companies ko promote karna start kar diya ha.

Indonesia, Vietnam, Sri Lanka, Myanmar even pakistan jaise chote countries aaj India k RuPay Card k promotion ko dekh kar inspire ho kar apne countries me local cards ko promote karne ki himmat juta paya ha aur USA k sath ladh raha ha.

USA k sath ladh raha ha isiliye bola kyunki Indonesian govt. last year US govt k sath ladh liya tha aur India ka example de kar bola ki hum India k tarah apne local card company ko promote karenge.

anyways RuPay card monopoly kabhi create nhi kar payega but currently Visa/Mastercard ka monopoly ha India me aur woh khatam hona chahiye.

There isn’t monopoly of Visa-MC in Debit & prepaid cards anymore.
In CC industry, Visa-MC still holds monopoly and will continue till private banks come-up with good Rupay Credit Cards.

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_One_Miller_ wrote:

There isn’t monopoly of Visa-MC in Debit & prepaid cards anymore.
In CC industry, Visa-MC still holds monopoly and will continue till private banks come-up with good Rupay Credit Cards.

Visa-MC combined hold more than 70% transaction market share in debit card side.

Paise transaction karne se aate ha, approx 60% RuPay card issue kar k kya achar daaloge agar log transaction he nhi karenge RuPay card se toh. smile

RuPay Card issuing/annual charges bhi Banks k pas jate ha, RuPay Card customers se issuing/annual charges nhi lete ha but Visa-MC k issuing/annual charges me banks & Visa-MC k sath equally share hote ha.

Visa-MC issue karne k liye pahele banks ko kuch Crores of rupees pahele paid karne parte ha, just because Visa-MC ek brand ha, uske baad Visa-MC apne cards denge bank ko.

RuPay card me aisa kuch nhi ha, bank ko RuPay card issue karne ha, sidha sidhi le lo, bina koi RuPay ko pay kiye.

Missing