Indian Banks Consider Promoting Blockchain Tech Use for Payments

Major Indian banks plan to focus on blockchain tech implementation to increase digital transaction quality. The National Payments Corporation of India (NPCI) is considering implementing blockchain technology to increase the strength of digital transactions, Indian business magazine Business Today reports on April 14.The initiative of ten banks, under the aegis of the Indian Banks’ Association (IBA), aims to improve the NPCI by implementing distributed ledger technology, the publication underlines.The NPCI, an umbrella organization that operates retail payments and settlement systems in India and includes 56 national banks as stakeholders, was set up with the guidance and support of the Reserve Bank of India and the IBA.…