Discussion
Which organization was formed for managing retail payment in India?
Answer: B
Correct answer: NPCI
The National Payments Corporation of India was set up in 2008 as an umbrella organisation for retail payments, promoted by the Reserve Bank and a group of banks under the Payment and Settlement Systems Act. It operates UPI, IMPS, RuPay, NACH, AEPS and the National Financial Switch, and it is a not-for-profit company rather than a regulator.
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