CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Data from the National Payments Corporation of India (NPCI) stated that April Immediate Payment System (IMPS) numbers have reduced to a two-year low. When was NPCI founded?

A	2010
B	2008
C	2006
D	2009

Explanation:

Detailed explanation-1: -National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India.

Detailed explanation-2: -NETC. National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the Indian market.

Detailed explanation-3: -Unified Payments Interface is an instant real-time payment system developed by National Payments Corporation of India (NPCI). The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.

Detailed explanation-4: -RuPay, a new card payment scheme launched by the National Payments Corporation of India (NPCI), has been conceived to fulfill RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments.

There is 1 question to complete.