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NPCI Full Form

What is the full form of NPCI?

The NPCI full form is National Payments Corporation of India. It is a collaboration between all retail payment companies in India. NPCI was founded and backed by the Indian Banks Association under the direction of the RBI (Reserve Bank of India). In accordance with the terms of the 2007 Settlement and Payment Systems Act, NPCI was established.

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Within the NPCI, there are ten core promoter banks, namely PNB, SBI, Canara Bank, Union Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, HSBC, and Citibank. In recent years, when the Indian government supported the digitization of all money and payments, NPCI had a significant impact on retail transactions.

NPCI Full Form

NPCI’s primary goals

The primary objective of the NPCI is to offer enhanced infrastructure for the introduction of electronic and physical settlement and money transfer systems by the whole banking industry. The primary goals of the NPCI are:

  • The fundamental objective of NPCI is to simplify, consolidate, and integrate diverse payment systems with differing coverage criteria into a single unified national standard and business procedure for all retail money transactions.
  • Another objective of the NPCI is to introduce technological improvements in retail payment in order to increase operational efficiency and expand the reach of payment systems.
  • Thus, NPCI develops and implements a national system that shops can use on a daily basis and assures that the same method is standardized nationwide.

Services provided by NPCI

The NPCI provides a vast array of services. Several are detailed below:

NFS (National Financial Switch)

Through this network, all of the ATMs in the country are administered. It facilitates services including cash withdrawals, card-to-card transfers, and cash deposits.

IMPS (Immediate Payment Service)

It enables retail payments to be made in real-time.


It is a payment method invented by indigenous peoples. It provides debit, credit, and prepaid cards to Indian banks. It has a global presence as a result of collaborations with numerous international network partners.

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