Answer-With reference to the National Payments Corporation of India (NPCI), consider the following statemen...

Question

Accepted Answer

middot National Payments Corporation of India NPCI is an umbrella organization for all retail payments in India. It was set up with the guidance and support of the Reserve Bank of India RBI and Indian Banks Association IBA. middot NPCI Headquarters Mumbai MD amp CEO Dilip Asbe middot RBI recently asked banks, ATM networks, white label ATM operators, and the National Payments Corporation of India NPCI to provide the option of interoperable card-less cash withdrawal at cash machines. middot The RBI, after its April monetary policy committee meeting, announced the introduction of interoperable card-less cash withdrawal facility across all banks and all ATM networks. middot In the circular issued, RBI said the NPCI has been advised to facilitate Unified Payments Interface UPI integration with all banks and ATM networks. middot Essentially, UPI would be used for customer authorisation in such transactions, while settlement would be through the National Financial Switch NFS  ATM networks.

With reference to the National Payments Corporation of India (NPC

Detailed Solution

More BeePedia – Current Affairs Questions

Relevant for Exams:

Hey! Ask a query

Please Register/Login

RBI Grade B 2026 Phase 1 Memory Based Paper