National Payments Corporation of India

GS-3 #Economy

  • NPCI is an umbrella organization for all retail payment systems in India.
  • It was set up with the guidance and support of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA).

NPCI was established with following objectives -

1) To consolidate and integrate the existing multiple systems into a nation-wide uniform and standard business process for all retail payment systems.

2) To facilitate an affordable payment mechanism to benefit the common man across the country and propel financial inclusion.


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