Glossary · Banking & Finance
NPCI
National Payments Corporation of India — the umbrella organisation for all retail payment systems in India, owned by a consortium of major banks.
NPCI was set up in 2008 under the RBI's guidance to create a robust payment and settlement infrastructure. It operates UPI, IMPS, NACH (National Automated Clearing House), AePS (Aadhaar-enabled Payment System), RuPay card network, and CTS (Cheque Truncation System). NPCI's mission is to make digital payments accessible, affordable, secure, and simple for every Indian.
Examples
Every UPI and RuPay transaction in India is processed by NPCI's switches; in May 2024 alone, UPI processed 12.7 billion transactions.