Which one of the following links all the ATMs in India?
[UPSC Civil Services Exam – 2018 Prelims]
(a) Indian Banks’ Association
(b) National Securities Depository Limited
(c) National Payments Corporation of India
(d) Reserve Bank of India
- The National Payments Corporation of India (NPCI) was established in 2008 with the purpose of managing retail payments in India.
- NPCI carries out its responsibilities through its wing known as IDRBT (Institute for Development and Research in Banking Technology).
- In 2004, IDRBT developed the National Financial Switch, a vast network designed to interconnect all ATMs across India.
- The NPCI offers a range of services, including Rupay (a domestic card scheme), BHIM (Unified Payment Interface), Check Truncation System, and Aadhaar-enabled Payment System.