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Blockchain-Based “Vajra Platform” launched by NPCI for secure payments

Sumit Arora Last updated on April 17th, 2023 10:22 am

The National Payments Corporation of India (NPCI) has launched a blockchain-technology based payment system ‘Vajra Platform’. The newly launched platform, which is based on the Distributed Ledger Technology (DLT) has been designed for automating payment clearing and settlement processes of NPCI products such as unified payments interface (UPI) and Rupay card.

The platform has three types of nodes:

Clearing House node (CHN) for NPCI.
UIDAI node for Aadhaar authentication.
Participant node (PN) for all banks.

Important takeaways for all competitive exams:

MD & CEO of National Payments Corporation of India: Dilip Asbe.
Headquarters of National Payments Corporation of India: Mumbai.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.