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Dhananjay Jha

· started a discussion

· 1 Months ago

not clear (Question: 114584.0 )

Is it national payment corporation of indidia?

Question:
NPCI is a –
Options:
A) Constitutional Body
B) Statutory Body
C) Subsidiary of RBI
D) Not-for-profit Organisation
E) None of these
Solution:
Founded in 2008, NPCI is a not-for-profit organisation registered under section 25 of the Companies Act, 2013. The organisation has been promoted by the country’s central bank, the Reserve Bank of India.

Abhishek Nath

· commented

· 1 Months ago

Actually No. RBI and IBA had set up the NPCI in 2008. It took over the NFS (National Financial Switch) service from the previous body -IDBRT (Institute for Development and Research in Banking Technology) in January 2010. A subsidiary means a company with voting stock that is more than 50% controlled by another company, usually referred to as the parent company or the holding company. NPCI has ten core promoter banks. So it doesn't get included in the subsidiary list of RBI. If you want further clarification check the RBI official website. There it is said that there are three subsidiaries of RBI - Deposit Insurance and Credit Guarantee Corporation (DICGC), National Housing Bank (NHB), Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL). I hope this helps.

menika

· commented

· 1 Months ago

yes..i think answer id wrong...cz npci is subsidiary of rbi..

Dhananjay Jha

· commented

· 1 Months ago

thnx

kanhaiya jha

· commented

· 1 Months ago

yes....this is the full form of NPCI....but the question has been asked is different... NPCI(National Payment Corporation of India) is a not-for-profit organisation registered under section 25 of the Companies Act, 2013. The organisation has been promoted by the country’s central bank, the Reserve Bank of India.
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