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    Question

    The National Payments Corporation of India (NPCI) has

    incorporated NBSL as its wholly owned subsidiary. In this context, what does the letter ‘B’ stand for in NBSL? (August 2024)
    A Bharat Correct Answer Incorrect Answer
    B Banking Correct Answer Incorrect Answer
    C Business Correct Answer Incorrect Answer
    D Blockchain Correct Answer Incorrect Answer
    E BHIM Correct Answer Incorrect Answer

    Solution

    The letter ‘B’ in NBSL stands for "BHIM". • NBSL: NPCI BHIM Services Ltd. is a subsidiary of NPCI, where "BHIM" refers to Bharat Interface for Money, a digital payment application that facilitates simple and quick transactions. • Objective: The incorporation of NBSL is aimed at addressing the growing demand for digital payments, supporting innovation, and promoting financial inclusion. About NPCI: • Established in 2008 as the umbrella organization for retail payments and settlement systems in India. • Products: NPCI offers a range of services, including UPI, RuPay, IMPS, and BHIM, to promote secure and efficient digital payments. • Mission: NPCI is focused on driving India toward a fully digital economy by providing affordable, accessible payment infrastructure.

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