Categories: Banking

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

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

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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Sumit Arora
6 years ago

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