The National Payments Corporation of India (NPCI) has

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.