this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . may 2012 learn how and when to remove this template message national payments corporation of india type section 25 company industry payments founded 2008 headquarters mumbai maharashtra india 1 key people balachandran m chairman ap . hota managing director & ceo 2 products national financial switch nfs national automated clearing house nach immediate payment service imps rupay cheque truncation system cts aadhaar enabled payment system aeps unified payments interface upi 99 number of employees 700 website www.npci.org.in national payments corporation of india npci hindi is the umbrella organisation for all retail payment systems in india with a vision to enable citizens of the country to have access to e payment services at anyplace and anytime . 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 . it s recent work of developing unified payments interface which aims to move india to cashless society and only digital transactions makes end customers the kings . it has successfully completed the development of a domestic card payment network called rupay reducing the dependency on international card schemes . the rupay card is now accepted at all the atms 2 22 278 point of sale pos terminals 12 20 763 and most of the e com merchants 30 000 in the country . more than 300 cooperative banks and the regional rural banks rrbs in the country have also issued rupay atm cards . more than 250 million cards are being issued by various banks and it is growing at a rate of about 3 million per month . a variant of the card called kisan card is now being issued by all the public sector banks in addition to the mainstream debit card which has been issued by 43 banks . rupay cards are also issued under the pradhan mantri jan dhan yojna scheme . rupay card was dedicated to the nation by the h ble president pranab mukherjee on 8 may 2014 . contents 1 organisation 2 services 3 see also 4 references 5 external links organisation edit the npci was incorporated in december 2008 and the certificate of commencement of business was issued in april 2009 . the authorised capital has been pegged at 3 billion us 45 million and paid up capital is 600 million us 8.9 million . presently there are ten core promoter banks state bank of india punjab national bank canara bank bank of baroda union bank of india bank of india icici bank hdfc bank citibank and hsbc . the board consists of balachandran.m as the chairman nominee from reserve bank of india and nominees from ten core promoter banks . mr. a. p. hota is the managing director and chief executive officer of npci . the board for regulation and supervision of payment and settlement systems bpss at its meeting held on 24 september 2009 has approved in principle to issue authorisation to npci for operating various retail payment systems in the country and granted certificate of authorisation for operation of national financial switch nfs atm network with effect from 15 october 2009 . npci has deputed its officials to idrbt hyderabad and npci has taken over nfs operations from 14 december 2009 . membership regulations and rules are being framed for enrolling all banks in the country as members so that when the nationwide payment systems are launched all would get included on a standardized platform . a technical advisory committee has also been constituted with two professors of iit bombay . n. l. sarda is the chairman and g. sivakumar is the co chairman of the technical advisory committee . members in this committees are drawn from banks at the level of deputy general manager assistant general manager . the key products of npci are national financial switch nfs which connects 1 98 953 atms of 449 banks 91 member banks 358 sub member 4 . immediate payment service imps provided to 84 member banks with more than 8.49 crore mmid mobile money identifier issued and crossed 10 million transactions . national automated clearing house nach has close to 400 banks on board . aadhaar payments bridge system apbs has more than 358 banks . cheque truncation system cts has fully migrated in 3 grids southern western & northern grids from micr centres . aadhaar enabled payment system aeps has 36 member banks . rupay domestic card scheme has issued over 20 crore cards and enabled 10 70 000 pos terminals in the country . 5 the newest and most advanced addition to the npci revolution is the unified payments interface upi which has been launched on 11 april 2016 . rupay paysecure over 20 banks now offer this authentication mechanism to their rupay cardholders.the new transaction flow of card otp has infused more simplicity to cardholders.more than 70 000 merchants accept rupay cards online.rupay paysecure is live on 10 acquiring banks which includes union bank of india kotak mahindra bank citi bank icici bank hdfc bank state bank of india idbi bank indusind bank bank of baroda and bank of india . services edit the corporation service portfolio now and in the future include national financial switch nfs which connects 1 98 953 atms of 449 banks 91 member banks 358 sub member 3 immediate payment service imps provided to 84 member banks with more than 8.49 crore mmid mobile money identifier issued and crossed 10 million transactions . national automated clearing house has close to 400 banks as live . aadhaar payments bridge system apbs has more than 358 banks as live . cheque truncation system cts has fully migrated in 3 grids southern western & northern grid from micr centres . aadhaar enabled payment system aeps has 36 member banks . rupay domestic card scheme has issued over 16.5 crore cards and enabled 10 70 000 pos terminals in the country . 4 unified payments system the service was technically launched on 11 april 2016 source see also edit trupay rupay unified payments interface bharat bill payment system immediate payment service national common mobility card references edit national payments corporation of india . npci.org.in . retrieved 2011 03 16 . mobile money transfer fee cut to 10p . indianexpress.com . retrieved 2011 03 16 . http www.npci.org.in http www.npci.org.in external links edit official site ctcircular v t e banking in india reserve bank reserve bank of india public sector banks allahabad bank andhra bank bank of baroda bank of india bank of maharashtra bharatiya mahila bank canara bank central bank of india corporation bank dena bank idbi bank indian bank indian overseas bank oriental bank of commerce post bank of india punjab & sind bank punjab national bank state bank of bikaner & jaipur state bank of hyderabad state bank of india state bank of mysore state bank of patiala state bank of travancore syndicate bank uco bank union bank of india united bank of india vijaya bank private sector banks axis bank bandhan bank catholic syrian bank city union bank dcb bank dhanlaxmi bank federal bank hdfc bank icici bank idfc bank indusind bank jammu & kashmir bank karnataka bank karur vysya bank kotak mahindra bank lakshmi vilas bank nainital bank rbl bank ratnakar bank south indian bank tamilnad mercantile bank limited yes bank cooperative banks buldhana urban cosmos bank repco bank saraswat bank shamrao vithal co op . bank tnsc bank rajkot nagrik sahakari bank foreign banks abn amro abu dhabi commercial bank antwerp diamond bank australia and new zealand banking group bank internasional indonesia bank of america bank of bahrain and kuwait bank of ceylon the bank of tokyo mitsubishi ufj barclays citibank india credit suisse deutsche bank hsbc the royal bank of scotland scotiabank standard chartered regional rural banks andhra pragathi grameena bank kerala gramin bank bangiya gramin vikash bank gramin bank of aryavart north malabar gramin bank pallavan grama bank pandyan grama bank paschim banga gramin bank sarva up gramin bank south malabar gramin bank uttar bihar gramin bank vananchal gramin bank list of regional rural banks in uttar pradesh interbank networks bancs cashnet cirrus imps upi mitr nfs plus rupay defunct banks alliance bank of simla arbuthnot & co bank of bombay bank of calcutta bank of chettinad bank of cochin bank of hindostan bank of madras bank of madura bank of rajasthan bank of thanjavur bareilley corporation bank bengal central bank bharat overseas bank centurion bank of punjab chartered bank of india australia and china commercial bank of india dass bank exchange bank of india & africa global trust bank grindlays bank hindustan commercial bank imperial bank of india ing vysya bank lakshmi commercial bank lord krishna bank madhavpura mercantile cooperative bank mercantile bank of india london and china miraj state bank nath bank nedungadi bank new bank of india oriental bank corporation oudh commercial bank palai central bank pandyan bank sikkim bank state bank of indore state bank of saurashtra times bank united industrial bank united western bank related topics banks board bureau banking codes and standards board of india atm usage fees in india de materialisation demat foreign exchange forex indian financial system code ifsc list of banks in india national electronic fund transfer neft national payments corporation of india real time gross settlement rtgs structured financial messaging system sfms prepaid payment instruments in india retrieved from https en.wikipedia.org w index.php title national payments corporation of india & oldid 742869736 categories payment systems organizationsinterbank networksexecutive branch of the indian governmentbanking in indiacompanies based in mumbaifinancial services companies of indiahidden categories use british english from march 2013use dmy dates from march 2013articles needing additional references 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