Question
National Payments Corporation of India (NPCI) was
founded in the year 2008 under which of the following act?Solution
- National Payments Corporation of India (NPCI) is an initiative taken by the Reserve Bank of India (RBI) and Indian Bank’s Association (IBA).
- 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.
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