Answer-Under which legislation was NPCI established to build India’s retail payment infrastructure?

The National Payments Corporation of India NPCI was set up under the Payment and Settlement Systems Act, 2007 by the RBI and Indian Banks Association IBA to develop robust retail payment systems. It now manages systems like UPI, IMPS, and others.

Question

Under which legislation was NPCI established to build India’s retail payment infrastructure?

A Banking Regulation Act, 1949

B Reserve Bank of India Act, 1934

C Payment and Settlement Systems Act, 2007

D Finance Act, 2005

E Indian Payments Regulation Act, 2012

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Under which legislation was NPCI established to build India’s retail payment infrastructure?

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