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      Question

      Consider the following statements about National

      Payments Corporation of India: 1. It is a “Not for Profit” Company. 2. A properly designed Public Sector Company. 3. It was setup under the provisions of the Payment and Settlement Systems Act, 2007. Which of the above statement is/are not correct?
      A 1 only Correct Answer Incorrect Answer
      B 2 only Correct Answer Incorrect Answer
      C 1 and 3 only Correct Answer Incorrect Answer
      D 1 and 2 only Correct Answer Incorrect Answer
      E 1, 2 and 3 only Correct Answer Incorrect Answer

      Solution

      NPCI setup under the provisions of the Payment and Settlement Systems Act, 2007. A properly designed Public-Private Partnership (PPP) policy. It is a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013).

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