top of page

VAJRA - NPCI real-time clearing on blockchain

Updated: Jan 11

press released in Jan 2020 , status of project UNKNOWN

The National Payments Corporation of India (NPCI) has planned to launch a blockchain-technology based payment system ‘VAJRA Platform’.

The DLT based system has been designed for automating payment clearing and settlement processes of NPCI products like UPI, IMPS . The platform is named as ‘VAJRA Platform’, the DLT based processing focuses on automation of clearing and reconciliation process at NPCI and its partner banks/ASPs .A Permissioned network will be setup so that only the parties who have been approved by the Network Administrator can be a part of the network.

Node is a fundamental component of a DLT. The clearinghouse node (NPCI), participant nodes (Bank’s/ASP/PPI/PSP) and UIDAI node (Notary node) will be treated as participants of the DLT platform.

There are three types of nodes on the platform:

1. Clearing House node (CHN) for NPCI

2. UIDAI node for Aadhaar authentication

3. Participant node (PN) for all banks/ASP/PPI/PSP

There will be some nodes that will be validating nodes and some other nodes which will be purely carrying admin work or setting up the business rules or smart contracts.

Below is the simple high -level flow of function of VAJRA and what one should expect from it.

It will reduce FULL-TIME MANUAL effort to zero as reconciliation will have zero issues. Disputes raised in processing will be easily tackled and fast, and as DLT ledger will be used for recording transactions and the processing will be highly secured.

Though the launch has happened in Jan 2020 , there is no status of the progress of the project , and even the project is out from the NPCI list this year 2022. Seeing many folks are joining and working on NPCI blockchain something for clearing and settlement will come in future and thus waiting.

Credits : and NPCI.

bottom of page