The Unified Payments Interface (UPI) will be launched later this month on July 31, reports the Indian Express, quoting National Payments Corporation of India Chairman AP Hota, who said that that 15 banks are ready with the applications for the UPI, and applications from State Bank of India and HDFC Bank will be ready by September. Some of the banks who are ready with applications are Union Bank of India, Oriental Bank of Commerce, Andhra Bank, Catholic Syrian Bank, Karnataka Bank , DCB Bank, Punjab National Bank, Canara Bank and Axis Bank. At the soft launch, 29 banks had expressed interest, out of which 19 banks have started building applications. Unified Payments Interface is a payments architecture developed by the NPCI that will allow users to make a transaction without divulging their account via aliases (such as shashidhar@hdfcbank) and will allow pull-based payments. Note…
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