Is NPCI owned by the RBI?

NPCI is owned by a consortium of major banks in India. NPCI was established by the RBI and Indian Banks Association (IBA). The National Payment Corporation of India (NPCI) is promoted by the Reserve Bank of India (RBI). It is a not-for-profit organisation. NPCI was established in 2008. NPCI Bharat BillPay Limited (NBBL) is one of the subsidiaries of NPCI. You can read about the RBI – Know More About Reserve Bank of India in the given link.

Further readings:

  1. Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19
  2. Cashless Economy in India – UPSC GS-III Notes

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