Corporation Bank has bagged three awards at the ‘National Payments Excellence Awards 2015’ event recently. The function was organised by National Payments Corporation of India (NPCI).

The bank said in a release that these awards were instituted for recognition of exceptional performance of member banks.

Corporation Bank received the winner award jointly with Indian Bank for ‘Cheque Truncation System’ under the mid-sized category. The bank also received two runner-up awards for National Financial Switch for its performance in acquirer transactions and Immediate Payment Service (IMPS).

R Gandhi, Deputy Governor of Reserve Bank of India, presented the award at a function in Mumbai recently.

ABOUT NPCI

National Payments Corporation of India was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009.
CEO: AP Hota
HQ: Mumbai

ABOUT NATIONAL PAYMENT EXCELLENCE AWARDS

National Payments Corporation of India has institutionalized ‘National Payments Excellence Awards 2014 to recognize outstanding achievements in operating various payment systems. H.R. Khan, deputy governor, Reserve Bank of India, was the chief guest at the award ceremony held in Mumbai recently.

Awards were presented to banks under four categories –
National Financial Switch (NFS),
Cheque Truncation System (CTS),
Immediate Payment Service (IMPS) and
Automated Clearing House (ACH) system.

Special awards were also given for issuance and acquiring of RuPay cards and launching innovative payment products using NPCI services as platforms. NPCI had constituted an eminent and independent panel of jury for building the framework and monitoring the evaluation process. Hota said the awards mark the initiatives of NPCI in creating new benchmarks in payments processing.