NPCI apologises to investors, starts exclusive clearing system for MFs

Last week, several MF investors had faced glitches in payments via UPI, which NPCI attributed to 'migration of systems'

National Payments Corporation of India (NPCI) on Wednesday said it “regret the unwarranted inconvenience” caused to the mutual fund (MF) investors caused by “migration of systems”

It further said that it has launched exclusive clearing session for MFs to ensure faster clearing of payments.

Last week, several mutual fund investors had faced glitches in payments through the unified payments interface (UPI) route, a real-time payment system developed by NPCI.

 “This was a planned migration activity and during which we faced some initial teething issues such as delay in settlement. Unfortunately, our migration coincided with the regulatory rule effected from February