NPCI Products
Banking · NPCI उत्पाद
📋Quick Overview
The National Payments Corporation of India (NPCI) is an umbrella organization for all retail payment systems in India. It was established on 20 December 2008 as a not-for-profit company under Section 25 of the Companies Act, by the initiative of RBI and Indian Banks' Association (IBA). NPCI has developed and operates multiple payment products that have transformed India's digital payment landscape — including UPI, RuPay, IMPS, NACH, AePS, FASTag (NETC), BBPS, and CTS (Cheque Truncation System).
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NPCI: Est. 2008 | HQ: Mumbai | Promoted by RBI + IBA | Not-for-profit | Operates: UPI, RuPay, IMPS, NACH, AePS, FASTag, BBPS, CTS
📖NPCI Products — Complete List
| Product | Full Name | Launched | Purpose |
|---|---|---|---|
| UPI | Unified Payments Interface | 2016 | Instant mobile-to-mobile fund transfer via VPA |
| RuPay | Rupee Payment | 2012 (26 March) | India's own card payment network (like Visa/Mastercard) |
| IMPS | Immediate Payment Service | 2010 | 24x7 instant interbank fund transfer |
| NACH | National Automated Clearing House | 2013 | Bulk/recurring payments (salary, pension, EMI) |
| AePS | Aadhaar Enabled Payment System | 2016 | Banking with Aadhaar + biometrics at micro-ATM |
| NETC FASTag | National Electronic Toll Collection | 2016 (mandatory 2021) | Automatic toll payment on highways via RFID tag |
| BBPS | Bharat Bill Payment System | 2017 | Centralized bill payment (electricity, water, gas, DTH, etc.) |
| CTS | Cheque Truncation System | 2010 | Image-based cheque clearing (no physical cheque movement) |
| BHIM | Bharat Interface for Money | 2016 (30 Dec) | UPI-based payment app for consumers |
| e-RUPI | Electronic Rupee Voucher | 2021 (2 Aug) | Purpose-specific digital payment voucher |
📝RuPay — India's Own Card Network
- •RuPay launched on 26 March 2012 by NPCI
- •India's domestic card payment network — competes with Visa, Mastercard
- •Name: RuPay = Rupee + Payment
- •Jan Dhan Yojana accounts get RuPay debit cards by default
- •Lower transaction cost than Visa/Mastercard (processed domestically)
- •RuPay cards now accepted internationally (tie-up with Discover, JCB)
- •RuPay has debit, credit, and prepaid card variants
📝FASTag — Key Facts
- •FASTag = RFID-based electronic toll collection system
- •Operated under NETC (National Electronic Toll Collection) by NPCI
- •Made mandatory for all 4-wheelers from 15 February 2021
- •FASTag is affixed on the windshield — toll deducted automatically
- •Validity: 5 years from date of issuance