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National Payments Corporation of India is a joint initiative which of the following?
- a)RBI and State Bank of India
- b)RBI and Ministry of Finance
- c)SBI and Finance Ministry
- d)RBI and IBA
- e)None of the above / More than one of the above
Correct answer is option 'D'. Can you explain this answer?
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National Payments Corporation of India is a joint initiative which of ...
- 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.
IMPORTANT FACTS
- This organization 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.
What is NPCI?
- The National Payments Corporation of India (NPCI) serves as an umbrella body for the operation of retail payments in India.
- This organization was established by the Reserve Bank of India along with the Indian Bank’s Association.
- NPCI was incorporated in December 2008 and was centrally promoted by the Reserve Bank of India.
- The Certificate of Commencement of Business was issued in April 2009.
- Headquartered in Mumbai, the National Payments Corporation of India is an organization registered under section 8 of the Companies Act 2013.
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National Payments Corporation of India is a joint initiative which of ...
- 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.
IMPORTANT FACTS
- This organization 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.
What is NPCI?
- The National Payments Corporation of India (NPCI) serves as an umbrella body for the operation of retail payments in India.
- This organization was established by the Reserve Bank of India along with the Indian Bank’s Association.
- NPCI was incorporated in December 2008 and was centrally promoted by the Reserve Bank of India.
- The Certificate of Commencement of Business was issued in April 2009.
- Headquartered in Mumbai, the National Payments Corporation of India is an organization registered under section 8 of the Companies Act 2013.
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