The Reserve Bank of India (RBI) had on March 4 approved implementation of an interoperable payment system for internet banking transactions by NBBL, a subsidiary of National Payments Corp. of India (NPCI).
Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integrate their systems with the RBIs for capturing the card spend information of individual customers during personal foreign tours.
NPCI Bharat Billpay (NBBL), banks and fintech firms are in talks to implement banking interoperability, following central bank approval for the project, said two senior bankers with knowledge of the matter.