Question
Which of the following Statements about NPCI is/are
True? I- It was established in 2014. II- 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. III- No Commercial banks act as a promoter of NPCI.Solution
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. 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. NPCI is promoted by ten major promoter banks: State Bank of India Punjab National Bank Canara Bank Bank of Baroda Union Bank of India Bank of India ICICI Bank HDFC Bank Citibank HSBC
The SMILE scheme primarily focuses on the welfare and rehabilitation of which group?
According to an order issued by the Director General of Foreign Trade (DGFT),the Central Government has extended the import duty exemption given to tur ...
What is the estimated cost of developing the Ramayapatnam Greenfield Refinery and Petrochemical Complex?
What is the expected impact of the BRO’s renovated Jawahar Tunnel in Jammu & Kashmir?
Which two countries have agreed to finalize the Local Currency Settlement System Agreement to enhance bilateral trade?
What is the purpose of the Memorandum of Association between Udyam and Credit Guarantee Fund Trust for Micro and Small Enterprises?
The National Payments Corporation of India (NPCI), has launched two conversational payments initiatives that are aimed at increasing convenience and acc...
Railways to renovate 1,000 small stations under which of the following central government?
Which force has been designated as the Recognised Security Organisation for port facilities under the Bureau of Port Security framework?
Who became Bihar’s first Woman FIDE Master (WFM) in 2025?
Relevant for Exams:
