Question

    Which of the following is an umbrella organisation for operating retail payments and settlement systems in India?

    A NPCI Correct Answer Incorrect Answer
    B BHIM Correct Answer Incorrect Answer
    C Bharat Pay Correct Answer Incorrect Answer
    D Phone Pay Correct Answer Incorrect Answer
    E RBI Correct Answer Incorrect Answer

    Solution

    National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of the Reserve Bank of India (RBI) and Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

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