The Headquarters of National Payments Corporation of India (NPCI) is in _______?

a. New Delhi

b. Mumbai

c. Hyderabad

d. Chennai

ANSWER: Mumbai

Explanation:

National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India.

It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).

The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the ‘Retail Payment Systems’ in the country.

NPCI

Founded : 2008

Headquarter : Mumbai, India

Current Head : Balachandran M (Chairman), A P Hota (MD & CEO)