Question : What is the full form of NPCI, which is an umbrella organization for all retail payment systems in India?
Option 1: National Payments Corporation of India
Option 2: Non-cash Payments Corporation of India
Option 3: Non-cash Payments Cooperative Inc.
Option 4: Net Payments Company Inc.
Correct Answer: National Payments Corporation of India
Solution : The correct answer is National Payments Corporation of India .
NPCI stands for National Payments Corporation of India and is an umbrella organization for all retail payments and settlement systems in India. It was set up under the guidance and support of the Reserve Bank of India and the Indian Banks’ Association under the provisions of the Payment and Settlement Systems Act 2007.
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