{"id":14433,"date":"2023-09-08T06:48:24","date_gmt":"2023-09-08T01:18:24","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=14433"},"modified":"2025-04-02T20:33:50","modified_gmt":"2025-04-02T15:03:50","slug":"national-payments-corporation-of-india","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/national-payments-corporation-of-india\/","title":{"rendered":"National Payments Corporation of India"},"content":{"rendered":"<h2><strong>Key points about new products:<\/strong><\/h2>\n<ul>\n<li><strong>While Credit Line<\/strong>: It would enable\u00a0<strong>pre-sanctioned credit lines<\/strong> from banks via UPI.<\/li>\n<li><strong>UPI LITE X\u00a0<\/strong>\n<ul>\n<li>It would facilitate\u00a0<strong>offline payments and UPI Tap &amp; Pay<\/strong> would enhance QR Code and Near Field Communication (NFC) technology adoption for digital payment.\u00a0<\/li>\n<li>In addition to the conventional Scan and Pay method, users now have the option to\u00a0<strong>simply tap NFC-enabled QR codes<\/strong> at merchant locations to complete their payments.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Hello! UPI<\/strong>\u00a0\n<ul>\n<li>Conversational Payments on UPI would enable\u00a0<strong>users to make voice-enabled UPI payments via UPI Apps, telecom calls, and IoT devices<\/strong> in Hindi and English, and will soon be available in several other regional languages.\u00a0<\/li>\n<\/ul>\n<\/li>\n<li><strong>BillPay Connect<\/strong> : Conversational Bill Payments, payments can be made across India through a nationalised number made available by Bharat BillPay.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>About National Payments Corporation of India:<\/h3>\n<ul>\n<li>It is an\u00a0<strong>umbrella organisation<\/strong> for operating\u00a0<strong>retail payments and settlement systems<\/strong> in India.\u00a0<\/li>\n<li>It is an initiative of the\u00a0<strong>Reserve Bank of India<\/strong> (RBI) and\u00a0<strong>the Indian Banks\u2019 Association<\/strong> (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &amp; Settlement Infrastructure in India.<\/li>\n<li>It has been incorporated as a \u201cNot for Profit\u201d Company under the provisions of Section 25 of the Companies Act 1956 (now Section 8 of the Companies Act 2013).<\/li>\n<li>It is promoted by ten major banks, including the State Bank of India, Punjab National Bank, Citibank, Bank of Baroda, and HSBC.<\/li>\n<li>The regulatory board of the NPCI, headquartered in Mumbai, includes nominees from the RBI along with nominees from ten core promoter banks.\u00a0<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1) What is Near Field Communication?<\/h3>\n<p>Near Field Communication, is a short-range wireless communication technology that allows devices to communicate with each other when they are in close proximity, typically within a few centimeters. NFC operates at high-frequency radio waves (13.56 MHz) and is a subset of RFID (Radio-Frequency Identification) technology.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/npci-unveils-a-suite-of-digital-payment-products\/article67278029.ece\" target=\"_blank\" rel=\"nofollow noopener\"><u>NPCI unveils a suite of digital-payment products<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Payments Corporation of India  is an umbrella organisation for operating retail payments and settlement systems in India.<\/p>\n","protected":false},"author":5,"featured_media":14434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-14433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=14433"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/14434"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=14433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=14433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=14433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}