About NPCI
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).
During the last five years, the organization has grown multi-fold
from 2 million transactions a day to 20 million transactions now. From a
single service of switching of inter-bank ATM transactions, the range
of services has grown to Cheque Clearing, Immediate Payments Service
(24x7x365), Automated Clearing House, Electronic Benefit Transfer and a
domestic card payment network named RuPay to provide an alternative to
international card schemes. As on end-October 2015 over 220 Million
Indians own RuPay cards.
31.12.2016 onward POSB Debit Card Holder can withdraw money from any
Bank ATM and the same, Any Bank Debit Card Holder can also use India
Post ATM. It is major step taken by Government to utilize DOP ATM now a
days of Demonetization. The India Post has 1000 working ATM across the
country and it can play a big role to reduce burden on Bank ATM.
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