Adarsh Credit Cooperative Society

welcomes RBI's move to open up Unified

Payments Interface (UPI)
On March 20, 2017, The Reserve Bank of India announced its policy of making digital wallets
interoperable through the Unified Payments Interface (UPI) platform, which works under the part of
Governments digitisation programme. As per the reports issued by RBI, it is yet has to prescribe
guidelines on interoperability of the wallets, and Know Your Customers, norms which will make it an
easy for the banks to communicate with its customers and serve them at their level best.

Interoperability allows direct money transfers from one digital wallet provider to other digital wallet
providers without having to go through the traditional way of banking. Adarsh Credit Cooperative
Societys Money Mobile Application platform - Adarsh Money, has already joined hands with Oxigen
digital wallet and is powered by strong technology and innovation. This partnership is aimed at
bringing more people to the digital system, thereby promoting digitization in India. Despite false
allegations on Adarsh Credit Co-Operative Society ltd to be involved in scandals related to corruption.
Mukesh Modi, Founder and Mentor of Adarsh Credit Cooperative Society has always worked to serve
the best interest of its members and such false allegations would not work in favour to disturb the
loyalty of its members towards Adarsh Credit Cooperative Society.

The proposed guidelines for Unified Payments Interface platform is also predicted to help Adarsh

Credit Co-operative Society Ltd to look over the complaints and queries registered by the members,

and to provide the members with valuable solutions. Adarsh Credit Co-Operative Society ltd reviews

this move by the RBI as much needed step in bringing India on a Digital platform.

According to Adarsh Credit Cooperative Society, proposed RBI guidelines on UPI will enable
the growth of the mobile banking, e-commerce and online payments which will eventually
cease out the need of using paper money and will promote cashless transactions which will
lower the corruption in the country.