National Payments Corporation of India (NPCI)

79) Consider the following statements:

1. National Payments Corporation of India (NPCI) helps in promoting  financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


Solution: (c) Both 1 and 2

NPCI is an umbrella organization for all retail payments system in India. Thus, an important objective of NPCI is to facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion.

Rupay is a domestic card payment network that provides an alternative to international card schemes. It was introduced by NPCI.

http://www.npci.org.in/aboutus.aspx