NPCI leading India towards Digital payments
National Payments Corporation of India (NPCI)
Head of the organization – Dilip Asbe- MD & CEO
The National Payments Corporation of India (NPCI) is an initiative taken by the Reserve Bank of India (RBI) and Indian Bank’s Association (IBA) to operate the retail payments and settlement systems in India. To create a robust Payment & Settlement Infrastructure in India, National Payments Corporation of India (NPCI) has been set up. This organisation was founded in the year 2008 under the Payment and Settlement Systems Act, 2007. NPCI has been incorporated as a ‘not for profit’ company under section 8 of Companies Act 2013. It has the aim of consolidating and integrating various systems into nation-wide uniform and standard business process that can be used as a retail payment system. Another major objective of NPCI was facilitating an affordable payment system that can help the common people during financial inclusion.
Key Priorities: NPCI has created a robust Payment & Settlement Infrastructure in India. It provides online transaction routing, processing and settlement services to members participating in UPI. It has created revolution on the retail payment systems in the country
Website - https://www.npci.org.in/
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