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Of the following abbreviations, which one is primarily an umbrella organisation for operating retail payments and settlement systems in India?

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Question

Of the following abbreviations, which one is primarily an umbrella organisation for operating retail payments and settlement systems in India?

Options

  • NPCI 

  • SIDBI 

  • NABARD

  • IRDA

MCQ
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Solution

NPCI

Explanation:

NPCI was established as an umbrella organization for the retail payments system in India under the direction and cooperation of the RBI and the Indian Banks' Association (IBA).

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