NPCI helping to transform India into a ‘less-cash’ society

National Payments Corporation of India (NPCI)

Head of the organization 

Dilip Asbe (MD & CEO) 

Website : https://www.npci.org.in/

National Payments Corporation of India (NPCI) is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007 to operate retail payments and settlement systems and create a robust infrastructure in India. During its journey in the last seven years, it has made a significant impact on the retail payment systems in the country.

National Financial Switch (NFS) and Cheque Truncation System (CTS) continue to be the flagship products of NPCI. Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) have been termed as two most revolutionary products in the Indian payment system. 

The other products include RuPay Credit Card, National Common Mobility Card (NCMC) and National Electronic Toll Collection (NETC). Bharat Interface for Money (BHIM) is a mobile payment App developed by NPCI that makes payment transactions simple, easy and quick using Unified Payments Interface (UPI).