The National Payments Corporation of India (NPCI) may use distributed ledger technology to improve digital payments, states Business Today India (BT).
Payments network NPCI is considering using highly scalable blockchain solution to further strengthen digital payments, which have seen "exponential growth in recent times", states BT.
"NPCI intends to develop a resilient, real time and highly scalable blockchain solution. It is proposed to develop this solution using an open source technology/framework/solution," states a notification.
NPCI is considered to be the main organization for all retail payments providers in India. It was founded under the guidance with the Reserve Bank of India and the Indian Banks Association (IBA).
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