NPCI | National Payments Corporation of India


National Payments Corporation of India (NPCI) is an organisation established by the Reserve Bank of India, which has been conceived as a  retail payments and settlement for various payment systems in India. It was established with the guidance and support of the Reserve Bank of India and the Indian Bank Association (IBA).

NPCI was established in December 2008 and it had been issued certificate to start a business in April 2009. It was established accordance with the companies act, 1956 as a section 25 (now section 8 of the companies Act 2013). Company and all member banks, its purpose is to work for the welfare of their clients.

Its authorized capital was Rs 300 Cr. and its paid-up capital increased from Rs.100 crore to Rs. 137 crore. Its aim is to create large dimension infrastructure and work in high volume as a result of payment services at the part of the current cost structure.

NPCI has ten promoter Banks

1. State Bank of India (SBI)

2. Punjab National Bank (PNB)

3. Canara Bank

4. Bank of Baroda (BOB)

5. Union Bank of India

6. Bank of India

7. ICICI Bank (Industrial Credit and Investment Corporation of India)

8. HDFC Bank (The Housing Development Finance Corporation)

9. Citibank

10. HSBC (Hong Kong and Shanghai Banking Corporation)

NPCI company logo was unveiled by NPCI chairman Mr. Balachandran M. in the board meeting held on December 15, 2015.

NPCI’s Products and Services

National Financial Switch (NFS)

Bharat Interface for Money (BHIM)

unified payments interface (UPI)

National Automated Clearing House (NACH)

RuPay card

Bharat Bill Payment System (BBPS)

On may 8, 2014, the president of India, Shri Pranab Mukherjee, dedicated India’s own payment card ‘RuPay’ to nation.

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