NPCI(National Payments Corporation of India)

Meaning:

NPCI stands for the National Payments Corporation of India. It is the organization that manages India’s major digital payment systems, including UPI, IMPS, RuPay, AePS, and BHIM. NPCI was created to improve and modernize India’s payment system, making  transactions faster, safer, and cheaper.

Importance in Finance :  

NPCI enables UPI and mobile payments, making it easy to send and receive money.

It supports digital banking across the country, helping more people access banking services.

NPCI helps rural banking by providing Aadhaar-enabled services.

It makes payments low-cost for both banks and customers.

Uses  :

UPI payments through apps like PhonePe, GPay, and Paytm.

Ru

Pay debit and credit cards for transactions.