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National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, 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, for creating a robust Payment & Settlement Infrastructure in India.

Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.

The ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC. In 2016 the shareholding was broad-based to 56 member banks to include more banks representing all sectors.


  • National Financial Switch (NFS), 
  • Immediate Payment Service (IMPS), 
  • RuPay, Cheque Truncation System (CTS), 
  • Aadhaar Enabled Payment System (AEPS), ACH 



  • The formation of NPCI is aimed to operate for the benefit of all the member banks and their customers.
  • NPCI is now certified for three standards – PCI-DSS (sensitive data security in payment systems), ISO27001 (information security) and ISO 22301 ( business continuity) apart from ISO 9001( Quality Management).
  • NPCI has successfully completed the major project of developing a domestic card payment network called- RuPay.

Services Provied

  • The corporation service portfolio now and in the future include:
  • National Financial Switch (NFS) which connects 1,87,088 ATMs of 309 banks (89 Member Banks, 220 Sub- Member)
  • Immediate Payment Service (IMPS) provided to 71 member banks, with more than 7.45 crore MMID(Mobile Money Identifier) issued, and crossed 6.5 million transactions.
  • National Automated Clearing House – has close to 400 banks as Live.
  • Aadhaar Payments Bridge System (APBS) has more than 358 banks as Live.
  • Cheque Truncation System (CTS) has fully migrated in southern, western & northern grid from MICR centres.
  • Aadhaar-enabled payment system (AEPS) – has 36 member banks.
  • RuPay – Domestic Card Scheme- has issued over 7.5 crore cards and enabled 10,09,211 PoS terminals in the country.


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