Except for the Tiruchi District Central Cooperative Bank (TDCCB), the other cooperative banks are yet to adopt the UPI system.
| Photo Credit: FILE PHOTO

The urban cooperative banks in the district are yet to join the Unified Payments Interface (UPI) system.

The system enables customers to make payments using UPI IDs and use mobile applications to transfer/receive cash instantly. It will enable IMPS that can be operated via net banking or mobile banking. It helps the customers to store details of the receivers so as to make payment instantly.

There are seven urban cooperative banks in the district. Except for the Tiruchi District Central Cooperative Bank (TDCCB), others are yet to join the UPI system. In the absence of it, customers, similar to the traditional system of banking, have to visit their respective branches to make payments, thereby causing inconveniences to them.

“Most of the banks had embraced the UPI system. Urban cooperative banks have a huge number of customer base. A large number of customers still impose faith in cooperative banks. However, they have not updated to the UPI system, thereby forcing us to visit the banks for transactions. It consumes precious time of the customers. ” says a retired senior official of the Cooperative Department.

He said the UPI had made a significant change in the banking operations. It would save time and energy not only for the customers but also for the employees of the banks. It was time to connect all urban cooperative banks with the UPI system. Further delay would lead to decrease in the customer base.

UPI coming

A senior official of the Cooperative Department told The Hindu that the department had taken steps to bring all cooperative banks in the State under the UPI system.

It will be done soon.