Wed. Sep 27th, 2023
  • India’s  second largest public sector bank, Bank of Baroda has become the first public sector bank to launch UPI(Unified Payment Interface ) enabled ATM(Automated Teller Machine).  Earlier ,Hitachi Payment Services launched India’s first UPI enabled ATM under its brand name Hitachi Money Spot ATM.
  • The banks in which the government of India holds 51% or more equity shares are called public sector banks in India .SBI is the largest  public sector bank in India
  • In a statement issued on 8 September 2023,Bank of Baroda said that it has enabled the UPI ATM facility at over 6,000 ATMs across the country.
  • Bank of Baroda has launched the UPI enabled ATM in coordination with the National Payment Corporation of India (NPCI).
  • The Unified Payment Interface (UPI) has been developed by NPCI and went live in 2016. It is a mobile based 24×7 fast payment system to send and receive funds instantly using a Virtual Payment Address (VPA) set by the user itself.

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