GST: NPCI, NSDL in fray to develop e-wallet for exporters

The National Payments Corporation of India (NPCI) and the National Securities Depository Ltd (NSDL) are in the fray for operating the proposed e-wallet system for exporters under the goods and services tax (GST) regime.

The government is yet to decide on the agency that will develop the notional credit system to help exporters with working capital flow. GST Network (GSTN), the information technology backbone of GST, is also being considered for this.

In the government’s push for a cashless economy, NPCI developed the Bharat Interface for Money (BHIM) app for making payments, available for customers of 55 banks across the country. NSDL,