What is NPCI? What is its full form? Complete information in English

What is NPCI Full Information in English:- Hello friends, in this article today we are going to talk about NPCI. In this article we will tell you what is NPCI? What is the full form of NPCI? What is the function of NPCI? etc. Overall, in this article, you will get complete information about NPCI in English. So, definitelys read this article froms beginnings to end.

What is the full form of NPCI?

The full form of NPCI is National Payment Corporation of India. It means English National Payments Corporation of India.

What is NPCI? What is NPCI in English

NPCI is an organization in India that has promoted cashless transactions in India. This organization controls digital transactions in India. Nowadays, you must have seen many such Android apps, in which we can send and receive money from our bank account from our mobile just by sitting at home by linking our bank account. NPCI controls all this.

There are many products of NPCI which play an important role in digital transactions, we will talk about them further.

At present, many banks in India promote NPCI, out of which you can see the list of major banks below.

• State Bank of India
• Punjab National Bank
• Canara Bank
• Bank of baroda
• Union Bank of India
• Bank of india
• ICICI Bank
• HDFC Bank
• Citibank N. A. and HSBC

NPCI started in 2008. Since then, it has launched many products such as Rupay, IMPS, NACH, ABPS, AePS, NFS, UPI, Bharat Bill Payment System, NETC etc. Let us give you a brief description about all these products.

NPCI All Products List: -

1. RuPay

It is a card launched by NPCI, which is offered by banks to customers in the form of debit cards and credit cards. With the help of these cards we can do online and offline transactions. Prior to the arrival of the Rupay card, India mainly dominated the Master and VISA cards. But to strengthen the rupay card of India, most of the banks in India now perfer the Rupay card to the customers.

Under the Jan Dhan Yojana launched by Prime Minister Shri Narendra Modi, all the bank accounts opened were distributed to Rupay Card holders, which gave it a lot of strength.

2. IMPS

The full form of IMPS is Immediate Payment Service, its work is as it is named. It is an online money transfer method. Prior to the arrival of IMPS, methods such as NEFT and RTGS were used to transfer money online, which is quite slow. It takes much longer to transfer money from these methods. But this problem has been resolved after the arrival of IMPS. On transferring money from IMPS, the concerned person gets instant access to the money, as well as this service works 24/7, so you can avail this service at any time.

3. NACH

The full form of NACH is National Automated Clearing House. NPCI has implemented NACH for banking, insurance and other financial institutions. Its main objective is to strengthen the ECS system running in the country. NACH is used for distribution of subsidy, salary, pension, interest, insurance premium and similar other things.

4. ABPS

The full form of ABPS is Aadhaar Payment Bridge System. Through this service of NPCI, the benefit of government schemes of central government and state government is accessed in bank accounts of direct beneficiaries.

5. AePS

AePS has a full form Aadhaar enabled Payment System. This is a very important service started by NPCI. Through this service, bank account holders do not need to go to the bank to withdraw money from their account, rather they can withdraw money from their bank account with the help of their Aadhaar card by visiting any AePS center near them. . However, it is necessary to have an Aadhar card link in your bank account.

If your bank account has an Aadhaar card link? So through this service, you can withdraw money from your bank account without going to the bank.

This service is mainly useful for people who live in rural areas and whose bank is far away from their place of residence. In such a situation, they can get money from their bank account with the help of Aadhaar card in their village through AePS service.

6. NFS

NFS has a full form National Financial Switch. Today, we can withdraw money from our ATM card from any other bank's ATM machine, all this is done through NFS only. This was not possible before the arrival of NFS. With this help, we can also use our ATM card in any other bank's ATM machine.

7. UPI

The full form of UPI is Unified Payments Interface. It is a very popular service of NPCI. Through this service, we can send money from our mobile account to any other bank account from our mobile account. The speed of transferring money from UPI is very fast, our money gets transferred in just 2 seconds.

Nowadays, there are many such Android apps that we can install in our mobile and use the upi service. Some of the main upi service providing apps are PhonePe, Paytm, Google Pay, Amazon Pay, Bharat Pay, BHIM UPI etc.

8. Bharat Bill Payment System

This is also an important service started by NPCI, through which we can now fill all kinds of bills sitting at home like water bill, electricity bill, telephone bill, LIC premium and all other types of bills from our mobile. is. Therefore, it is also an important service, because before this we had to go to the concerned department and pay ourselves.

9. NETC

The full form of NETC is National Electronic Toll Collection. It is also an important service started by NPCI, this service is used on road toll plazas. After the arrival of this service, FasTag stickers have been installed on the vehicles which are linked to the bank account of the concerned person, so whenever that vehicle passes through the toll plaza, it does not need to stop at the toll plaza The attached scanner scans the FasTag of the vehicle concerned and the money is deducted from its account. It takes a lot of time. Therefore, this service of NPCI is also very useful for the common people.

So friends, in today's article did you know that NPCI kya hota hai? NPCI ki full form kya hai? What is the function of NPCI? NPCI all products list etc. Hope you like the information. If you like the article, then share it with your friends as well, if you have any questions or suggestions, then you can comment by commenting below.