![SBI partnered with One97 Communications for UPI Transactions SBI partnered with One97 Communications for UPI Transactions](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3BBSV0Dq-o1T5XbQUvMA0XO7NEf4EFyzN-ekFwaCIckV7cckuGCF_Rj4RBmg31UBJAF1EmFZ0V6y_xoYhwRGWO_QcYLYEWI2iNSh9FTo5AKzoVpE2TuoYtYA4L8HdG_DZJvPmhp3Zgaq4h_QR-lG7w2VV7Z17xzn05ibGc03R23TOfjbT_0lRDiz4t1w_/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(2).png)
- This partnership comes as a significant move to ensure uninterrupted payment services for Paytm users.
- The National Payments Corporation of India (NPCI) has approved One97 Communications Limited to continue Unified Payments Interface (UPI) transactions through four banks - State Bank of India (SBI), Axis Bank, HDFC Bank, and YES Bank.
- This decision comes as a relief for Paytm users, as the Reserve Bank of India’s (RBI) deadline of March 15 was looming, barring Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in customer accounts.
- Under the new arrangement, NPCI has approved One97 Communications to participate in UPI as a Third-Party Application Provider (TPAP) under a multi-bank model.
- The four designated banks will act as Payment System Provider (PSP) banks to One97 Communications, ensuring continuity in UPI transactions for Paytm users.
- Additionally, YES Bank will serve as the merchant acquiring bank for existing and new UPI merchants for One97 Communications.
- This partnership is expected to ensure a seamless transition and minimize disruptions, thereby maintaining the trust and confidence of Paytm customers.
Question:
Q.1 Who has the State Bank of India (SBI) entered into a strategic partnership with for UPI payments?a. One97 Communications
b. HDFC Bank
c. Axis Bank
d. YES Bank