Question

    The National Payments Corporation of India (NPCI) is an

    initiative taken by the _____________to operate the retail payments and settlement systems in India.
    A RBI Correct Answer Incorrect Answer
    B IBA Correct Answer Incorrect Answer
    C SEBI Correct Answer Incorrect Answer
    D a & b Correct Answer Incorrect Answer
    E b & c Correct Answer Incorrect Answer

    Solution

    Solution- The National Payments Corporation of India (NPCI) is an initiative taken by the Reserve Bank of India (RBI) and Indian Bank’s Association (IBA) to operate the retail payments and settlement systems in India. 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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