NPCI is a not-for-profit company incorporated under Section 25 of the Companies Act 1956 (now Section 8 of the 2013 Act). It was set up as an initiative of the Reserve Bank of India and the Indian Banks' Association under the Payment and Settlement Systems Act, 2007.
What they do
Operates retail payment and settlement systems for the banking system, including UPI, RuPay, IMPS, NACH, AePS, the National Financial Switch, Bharat BillPay and FASTag (NETC).
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