Categories: Agreements

Agreement Between NPCI and IIT Kanpur for Research Collaboration

A Memorandum of Understanding (MoU) between the National Payments Corporation of India (NPCI) and the Indian Institute of Technology (IIT), Kanpur, paves the way for the exchange of creative ideas and collaboration on the creation of homegrown digital payment solutions. The collaboration will also aid in strengthening cybersecurity safeguards for the goods and services provided by NPCI and its affiliates. The MoU will spur NPCI and IIT Kanpur to work together on a variety of projects.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

KEY POINTS:

  • With the help of this partnership, distinguished faculty members from the institute will conduct in-depth educational sessions and give lectures to NPCI staff on cybersecurity and the most recent developments in Artificial Intelligence (AI), Machine Learning (ML), Security Product Roadmaps, and Distributed ledger technologies (DLT).
  • On the other hand, NPCI would give IIT Kanpur students internship opportunities, giving them the essential experience of working on real NPCI projects.
  • IIT Kanpur students’ domain-specific knowledge and skills would help NPCI swiftly carry out the changing demands of customer-focused solutions.
  • The MoU’s knowledge-sharing features will be advantageous to both parties and make it possible to create better and more secure digital payment products and services that are focused on advancing the national interest.

About NPCI:

In order to manage India’s retail payment and settlement systems, the National Payments Corporation of India (NPCI) was established in 2008. A strong payment and settlement infrastructure has been developed in the nation by NPCI. Through a variety of retail payment products like the RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag), and Bharat BillPay, it has transformed the way payments are made in India.

Find More News Related to Agreements

Madhavi Gaur

Recent Posts

Indian Oil Welcomes Arvindar Singh Sahney as New Chairman

Arvindar Singh Sahney has been appointed as the new chairman of Indian Oil Corporation (IOC),…

47 mins ago

List of Chief Justice of India from 1950-2024

Chief Justice of India The Chief Justice of India (CJI) is the highest-ranking judge and…

1 hour ago

MHA Greenlights CISF’s First All-Women Unit

The Ministry of Home Affairs (MHA) has approved the creation of the Central Industrial Security…

2 hours ago

Aravindh Chithambaram Clinches Masters Title at Chennai Grandmasters 2024

GM Aravindh Chithambaram made a remarkable late surge in the final rounds, winning the last…

2 hours ago

PM Modi’s Three-Nation Visit: G20 Summit in Brazil, Nigeria, and Guyana (Nov 16-21)

Prime Minister Narendra Modi is set to undertake a crucial three-nation tour from November 16-21,…

2 hours ago

New Bike Taxi Service by Delhi Metro Includes Women-Driven Rides

Delhi Metro has introduced a new bike taxi service, available for booking through the official…

2 hours ago