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What is National Payment Corporation of India
National Payment Corporation of India is a owned and regulated network established by the Government of India and the Reserve Bank of India. It develops, manages and organizes various digital financial services and tools that facilitate the financial transaction ecosystem in India. The objective of NPCI is to facilitate and encourage the use of digital transactions in India to enhance financial prosperity and financial inclusion.
Some of the main services of NPCI
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Unified Payments Interface (UPI)upi): It is designed to handle easy and quick digital transactions between Indian banks.
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Impies (IMPS – Immediate Payment Service): It also facilitates instant transactions between personal and business accounts.
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Indian Financial Network (Bharat Bill Payment System – BBPS): It provides the facility to pay bills for various financial services.
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National Electronic Fund Transfer (NEFT)National Electronic Funds Transfer – NEFT): It is a financial service that makes personal and business transactions quick and secure.
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inrupi (Rupay): is an Indian financial network card that handles personal and business transactions.
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