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Time of India
07-07-2025
- Business
- Time of India
Infrastructure-boost: NPCI acquires prime land in Mumbai's BKC for Rs 829 crore; plans 16-storey global headquarters
The National Payments Corporation of India (NPCI) has secured a landmark land deal in Mumbai's Bandra-Kurla Complex (BKC), acquiring nearly 1.5 acres from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore to establish its global headquarters. Tired of too many ads? go ad free now Finalised on June 18, the transaction grants NPCI an 80-year lease for two amalgamated plots in BKC's G-Block. As per ET, the deal includes a permissible built-up area of about 2.59 lakh sq ft, though NPCI plans to construct a 16-storey tower offering nearly 5 lakh sq ft, indicating its intent to acquire additional Floor Space Index (FSI. T he proposed structure will also feature four to five basement parking levels. The payment systems operator, which runs UPI, RuPay and NACH platforms, has already made the full lease premium payment, according to documents accessed via realty data analytics platform Propstack. The acquisition is among the more prominent land deals in BKC and is likely to impact future pricing and development dynamics in the area. At a recent industry event, NPCI CEO Dilip Asbe said the organisation aims to develop a 5,000-seat R&D and experience centre in Mumbai as part of its new headquarters. He noted that over 70 countries have visited NPCI in the last 4–5 years, underlining its rising global stature, according to ET. Asbe further added that this move aligns with NPCI's vision to drive innovation in digital payments and deepen international cooperation. The land acquisition follows other high-profile deals in BKC. Recently, MMRDA allotted a 2.1-acre plot to a Brookfield-led consortium for Rs 1,302 crore, while Sumitomo Corporation's Goisu Realty secured a 3-acre parcel for over Rs 2,067 crore. Tired of too many ads? go ad free now NPCI's decision to consolidate its operations reflects a growing trend among public sector institutions to own strategic real estate in central business hubs rather than leasing. The G-Block site is located near several financial regulators, top banks, multinational consultancies and is set to benefit from upcoming metro links and the proposed BKC bullet train station. For MMRDA, this deal adds significant revenue and advances its goal of structured urban development across Mumbai. The transaction also underscores strong institutional demand for premium commercial property in India's financial capital. With digital payments expanding rapidly nationwide, NPCI's investment in a permanent HQ marks a strategic push to scale its operations and strengthen its institutional footprint.
Hindustan Times
06-07-2025
- Business
- Hindustan Times
NPCI secures prime 6,000 sq m plot in Mumbai's BKC from MMRDA for ₹829 crore to set up its headquarters
The National Payments Corporation of India (NPCI) has acquired a 1.5 acre land parcel from Mumbai Metropolitan Region Development Authority (MMRDA) in Mumbai's Bandra-Kurla Complex (BKC) for ₹829.43 crore to set up its headquarters, according to property registration documents accessed by Propstack. NPCI acquires prime 6,000 sq m plot in Mumbai's BKC from MMRDA for ₹ 829 crore to set up its headquarters. (Picture for representational purposes only)( (Photo by Raju Shinde/HT Photo) ) NPCI has signed an 80-year lease agreement with MMRDA and will construct a 16-storey office building on the site, the documents showed. The transaction includes the amalgamated plots C-44 and C-48 in G Block of BKC, India's most expensive commercial district. The lease permits a maximum built-up area of 24,076.4 sq. m. (approximately 2.59 lakh sq. ft.), as per the documents. According to Propstack, NPCI's board resolution indicates plans to develop an office building with a total built-up area of around 5 lakh sq ft across 16 floors, including four to five levels of basement parking. Propstack said that given that the current plot offers only about 2.59 lakh square feet of development potential, NPCI may need to acquire additional Floor Space Index (FSI) to realise its proposed project size. According to the documents, NPCI wrote to MMRDA in August 2024 requesting the authority to allot them land in BKC. Also Read: Mumbai Real Estate: Top 4 land deals worth nearly ₹5,000 crore closed in BKC, India's costliest commercial district What are NPCI's plans? As per media reports, NPCI intends to set up a research and development (R&D) centre in BKC as part of its broader global expansion strategy. Also Read: NPCI to set up global headquarters in Mumbai's Bandra Kurla Complex: Report The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated a plot to NPCI in Mumbai's BKC. The company is building about a 5000 capacity R and D centre, a media report had quoted NPCI's CEO Dilip Asbe as saying in February this year. According to another report published in the Free Press Journal, the MMRDA had granted administrative approval in September 2024 for the construction of an office for the NPCI at BKC. Also Read: JP Morgan leases 1.16 lakh sq ft in Sumitomo's BKC Tower at ₹7 crore monthly rent for 10 years As per the Free Press Journal report, the decision was taken as part of the broader vision to develop the Mumbai Metropolitan Region into a global economic hub. The Authority gave administrative approval for the formation of a dedicated 'Project Implementation Unit' and a 'Business Development Cell' to execute the region's economic Master Plan. BKC is Mumbai's central business district (CBD) and a prime hub for the Banking and Financial Services Industry (BFSI) sector and Fortune 500 companies.
Time of India
06-07-2025
- Business
- Time of India
NPCI acquires prime land in Mumbai's BKC from MMRDA for Rs 829 cr for HQ
The National Payments Corporation of India (NPCI), the umbrella organization for retail payment systems in India, has acquired a prime land parcel in Mumbai's business district Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore to set up its headquarters. The transaction, finalized on June 18, grants NPCI an 80-year lease for two amalgamated plots in G-Block of the business district. The total plot area measures nearly 1.5 acre, with a permissible built-up area of around 2.59 lakh sq ft. The deal is among key land transactions in BKC and is expected to influence the financial district's real estate landscape, particularly in terms of future pricing trends and development strategies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You Might Want To Buy Baking Soda In Bulk After Reading This Read More Undo NPCI has already paid the entire lease premium of Rs 829.43 crore to MMRDA, showed the documents accessed through realty data analytics platform Propstack. NPCI's CEO Dilip Asbe, speaking at an industry event, had recent said the organisation is setting up a 5,000-capacity research & development and experience centre in Mumbai as part of its global headquarters. Live Events He added that the move aligns with NPCI's goal of accelerating innovation in digital payments and expanding its global collaborations, noting that over 70 countries have visited NPCI's office in the past 4–5 years. According to NPCI's board resolution, the organization plans to construct a 16-storey office on the site. The proposed office building is expected to offer around 5 lakh sq ft of built-up space and will include four to five levels of basement parking. This indicates that NPCI may seek to acquire additional Floor Space Index (FSI) beyond what is currently permissible under the lease to accommodate the larger construction footprint. ET's email queries to NPCI and MMRDA remained unanswered until the time of going to press. Recently, MMRDA allotted a prime 2.1-acre land parcel in BKC to a consortium led by Brookfield Asset Management-backed Schloss Bangalore for a lease premium of Rs 1,302 crore. Prior to that, the authority allotted Japanese company Sumitomo Corporation's Goisu Realty a 3-acre land parcel for over Rs 2,067 crore. These high-value acquisitions reinforce the growing importance of BKC as the financial nerve center of Mumbai and the country, drawing both public and private sector institutions seeking marquee office addresses. NPCI's decision to consolidate its operations in a single, custom-built headquarters comes amid a broader trend among public sector organisations to own, rather than lease, space in key central business districts. The strategic location of the G-Block plots in BKC places NPCI in proximity to several financial regulators, leading banks, global consultancies, and multinational corporations. The site is also expected to benefit from upcoming infrastructure upgrades, including enhanced metro connectivity and proximity to the proposed BKC high-speed rail station. With digital payments experiencing exponential growth across India, NPCI's move to invest in a permanent, centralized facility underlines its ambitions to scale operations and fortify its institutional presence. The organization operates critical payment infrastructure including the Unified Payments Interface (UPI), RuPay card network, and National Automated Clearing House (NACH). For MMRDA, the land deal adds to its revenue stream and supports its mandate of urban development in Mumbai's metropolitan region. The transaction reflects robust institutional appetite for quality commercial real estate in Mumbai. Ends
Time of India
22-06-2025
- Business
- Time of India
Cybersecurity boost: Banks, RBI move to launch Digital Fraud Detection Platform amid soaring crimes - All you need to know
This is an AI-generated image, used for representational purposes only. In a concerted push to tackle the rising wave of digital payment frauds, major public and private sector banks are collaborating with the Reserve Bank of India (RBI) to develop a Digital Payment Intelligence Platform (DPIP), a new Digital Public Infrastructure aimed at enhancing fraud risk management As per the news agency PTI, the proposed platform will enable real-time intelligence sharing and data analysis to detect and prevent fraudulent digital transactions. According to sources, the RBI-led initiative is a top priority and is expected to go live in the coming months. The Reserve Bank Innovation Hub (RBIH) has been tasked with building a prototype of DPIP in consultation with 5–10 banks. 'Fraud is a common monster,' a source said, underlining why both public and private banks are being roped in to co-develop the platform. A high-level meeting was recently held to finalise its institutional structure, with participation from senior bank executives and RBI officials. The platform comes in response to a sharp spike in fraud cases. As per the RBI's latest annual report, bank frauds jumped nearly threefold to Rs 36,014 crore in FY25, compared to Rs 12,230 crore a year ago. Public sector banks reported Rs 25,667 crore worth of frauds—up from Rs 9,254 crore in FY24. While card and internet payment frauds dominated in the private sector, public sector banks faced large-scale fraud in their loan portfolios. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Aparat de sudură cu laser de 9000 W (4 în 1) – o revoluție în sudură! Află mai multe Undo A few weeks ago, Airtel approached over 40 banks, RBI and NPCI, proposing collaboration to create a repository of known fraudulent domains to enable proactive blocking of rogue sites. The telecom major also highlighted risks posed by OTT messaging platforms, calling them the weakest link in fraud prevention due to lack of regulatory oversight. Airtel Vice Chairman and MD Gopal Vittal, in a letter to NPCI MD & CEO Dilip Asbe, proposed 'closer collaboration to create a repository of known fraudulent financial domains,' and favoured joint public awareness campaigns and technical cooperation to counter online scams. 'The external threat landscape is evolving rapidly. Systems like are useful, but still reactive,' Vittal wrote to the RBI, stressing that fraud must be stopped at the first step—when a user attempts to access a malicious site. The telco's proposal received positive responses from banks and the NPCI, sources said. Airtel has also sought to join forces with Jio and Vodafone Idea to initiate a joint industry-level defence against telecom-based scams. In the first nine months of 2024 alone, India reported over 1.7 million cybercrime complaints, resulting in losses exceeding Rs 11,000 crore. These figures underscore the urgency of building a coordinated, tech-driven ecosystem like DPIP to shield consumers and financial systems from the growing digital threat. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
08-06-2025
- Business
- Business Standard
Airtel urges RBI, NPCI and banks to collaborate on digital fraud fight
Bharti Airtel has approached around 40 banks, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), seeking collaboration to establish a collective database of known fraudulent financial domains. Airtel expressed support for regulatory discussions and offered assistance to the RBI in framing mechanisms to ensure that over-the-top (OTT) platforms are held responsible for consumer protection in financial communication, according to a PTI report. The company has also proposed launching joint awareness campaigns to inform the public about evolving tactics in digital fraud and to promote secure digital practices. On 15 May, Airtel introduced an artificial intelligence (AI) based security platform designed to block fraudulent websites in real time, aiming to prevent digital scams targeting users. In a regulatory filing, Airtel stated that the service is the first of its kind globally. The platform has been launched in Haryana and will be expanded to other parts of India in due course. According to Airtel, the solution is compatible with multiple communication platforms, including WhatsApp, Telegram, Facebook, Instagram, emails, web browsers and SMS. Collaboration with NPCI In a separate communication to NPCI, Airtel suggested a partnership to improve the safety of the country's digital payment infrastructure. The telecom operator proposed that awareness initiatives use the combined outreach of Airtel and NPCI to educate users on secure online behaviour, identifying phishing threats and protecting against new digital fraud methods. It also suggested workshops to develop and commercialise anti-fraud solutions to help reduce financial fraud cases. In the communication, Airtel Vice Chairman and Managing Director Gopal Vittal wrote to NPCI MD and CEO Dilip Asbe: 'The NPCI has been deploying AI-based models that offer an advanced real-time Fraud Risk Monitoring and Management solution that generates alerts and allows banks to detect and prevent fraud across all online NPCI products.' Airtel outlined specific proposals in its 16 May letter, including: 'Closer collaboration between Airtel and NPCI to create a repository of known fraudulent financial domains, enabling proactive blocking of these malicious sites and creating a multi-layered defence against digital fraud.' Airtel said its fraud detection technology, which restricts access to malicious websites and phishing links at the access point, could complement NPCI's existing systems. The telecom stated: 'Additionally, during these programmes as well as our overall telco acquisition and experience, we believe that we have strong signals that could lead to identification of potentially fraudulent transactions or users.' It also recommended joint awareness efforts and workshops to build fraud resistance in the digital payments ecosystem. 'Through this collaboration, NPCI, Airtel and the banking sector can collectively create a more robust and resilient framework for reducing fraud and building greater confidence in India's digital financial services. Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the NPCI to enhance the security and integrity of India's digital payments ecosystem,' the letter said. RBI partnership In a separate letter to RBI Governor Sanjay Malhotra, Vittal acknowledged the central bank's initiatives, including its work with regulated entities and the Reserve Bank Innovation Hub (RBIH) on the system. Vittal wrote: 'This powerful AI-based system has already demonstrated its ability to identify mule accounts used to route illicit funds. By analysing user behaviour and transaction patterns, banks can now flag and disable suspicious accounts more efficiently, thereby disrupting fraud at the transactional layer.' He added: 'Airtel believes that our fraud detection solution can complement these efforts by stopping fraud at the very first step: the moment a user attempts to access a malicious site.' 'Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the RBI in this critical fight against digital fraud,' Vittal stated. OTT cyber risks The company also raised concerns about security risks associated with OTT platforms. It said replicating the protection level of SMS on OTT platforms is 'impossible' because detecting and blocking fraudulent links on these platforms is more difficult compared with websites. Airtel also noted the absence of traceability, compliance obligations and regulatory access within OTT platforms. 'In this context, and in light of the ongoing RBI consultation on additional factor authentication (AFA) for digital payments, we wish to emphasise that financial transactions must continue to be conducted over secure telecom networks. Telecom networks offer a level of protection and oversight that OTT platforms currently lack, thereby helping to mitigate fraud risks and enhance overall consumer safety,' Vittal wrote. Banking industry Airtel's collaboration proposals received positive feedback from both private and public sector banks. Previously, Airtel had approached Reliance Jio and Vodafone Idea to propose a joint initiative against telecom fraud, aimed at addressing scams targeting users through telecom networks. In those letters, Airtel cited data showing that over 1.7 million cybercrime complaints were recorded in the first nine months of 2024, with financial losses exceeding ₹11,000 crore. The company urged all telecom providers to jointly work to combat fraudulent and deceptive practices targeting individuals.
