Which of the following statements is/are correct with reference to the National Payments Corporation of India?
A. It is an umbrella organisation for operating retail payments and settlement systems under the ownership of Reserve Bank of India in India.
B. National Payments Corporation of India (NPCI) had laid down a framework for a more even distribution of share of third-party app providers in the UPI system.
C. Both A & B
D. None of these
Explanation:
The Reserve Bank of India (RBI) will issue cybersecurity norms for payment service providers (PSPs) soon, following a series of data breaches faced by operators including Mobikwik and payment aggregator JusPay. The National Payments Corporation of India (NPCI) had laid down a framework for a more even distribution of share of third-party app providers in the UPI system. The National Payments Corporation of India (NPCI) is an umbrella organisation for operating retail payments and settlement systems under the ownership of Reserve Bank of India in India.
