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      Question

      National Payments Corporation of India (NPCI) was

      founded in the year 2008 under which of the following act?
      A Companies Act, 2013 Correct Answer Incorrect Answer
      B Banking Regulation Act, 1949. Correct Answer Incorrect Answer
      C RBI Act of 1935 Correct Answer Incorrect Answer
      D Payment and Settlement Systems Act, 2007 Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      • National Payments Corporation of India (NPCI) is an initiative taken by the Reserve Bank of India (RBI) and Indian BankтАЩs Association (IBA).
      • This organisation was founded in the year 2008 under the Payment and Settlement Systems Act, 2007.
      • NPCI has been incorporated as a тАШnot for profitтАЩ company under section 8 of Companies Act 2013.

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