National Payments Corporation of India
- NPCI is an umbrella organization for all retail payments systems in India.
- It was set up with the guidance and support of the Reserve Bank of India (RBI) and 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.