NPCI Products
Banking · NPCI उत्पाद · 16 facts
NPCI established on 20 December 2008 as not-for-profit company in Mumbai
NPCI promoted by RBI and Indian Banks Association (IBA)
NPCI operates: UPI, RuPay, IMPS, AePS, FASTag, BBPS, NACH, CTS, NFS
UPI: instant mobile payment using VPA, no need to share account number
RuPay: India own card payment network, rival to Visa and Mastercard
RuPay launched on 26 March 2012; widely used in Jan Dhan accounts
IMPS: 24x7 real-time interbank transfer (up to Rs 5 lakh)
AePS: Aadhaar-based banking at micro-ATM using fingerprint
NACH: automated bulk payment/collection (salary, pension, EMI, dividend)
BBPS: one-stop bill payment for electricity, gas, water, telecom etc.
FASTag: RFID-based electronic toll collection, mandatory on national highways
CTS (Cheque Truncation System): electronic cheque clearing, faster processing
NFS (National Financial Switch): connects all ATMs across India
NPCI International (NIPL) promotes UPI and RuPay globally
*99# USSD: banking on feature phones without internet using UPI
NPCI processed over 10 billion UPI transactions per month by 2023