Announcing NPCI as Gold Sponsor for PyCon India 2024

Published:

Author:

PyCon India Content Team

Please welcome our Gold Sponsor for PyCon India 2024 - NPCI



National Payments Corporation of India (NPCI), a central organization for managing retail payments and settlement systems in India, is a collaborative initiative spearheaded by the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). It was established under the Payment and Settlement Systems Act, 2007, to develop a robust payment and settlement infrastructure within the country.

Underlining its commitment to service, NPCI has been incorporated as a “Not for Profit” Company under Section 25 of the Companies Act 1956 (now Section 8 of the Companies Act 2013) to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems by using technology for achieving greater efficiency in operations and widening the reach of payment systems.

The consortium that initially established NPCI comprised a diverse group of ten core promoter banks, including major public sector banks, leading private sector banks, and prominent foreign banks in India. In 2016, the shareholding expanded to encompass 56 member banks, ensuring broader representation across all banking segments. By 2020, this expansion continued with the induction of new entities regulated by the RBI, including payment service operators, payment banks, and small finance banks. These shares were allocated through a private placement in accordance with the provisions of the Companies Act, 2013.

NPCI has made a profound impact on India's retail payment landscape, focusing on creating robust, efficient, and inclusive payment and settlement solutions. NPCI has been instrumental in introducing a range of products that have revolutionized retail payment systems. These include Unified Payments Interface (UPI), RuPay, Bharat Interface for Money (BHIM), National Automated Clearing House (NACH), Immediate Payment Service (IMPS), National Electronic Toll Collection (NETC), Aadhaar Enabled Payment System (AePS), BHIM Aadhaar, and e-RUPI. Each of these products has contributed significantly to enhance the efficiency and accessibility of payment systems in India, ultimately propelling financial inclusion.

NPCI has played a fundamental role in establishing the foundation for India’s rapidly growing digital payments ecosystem, projecting the country onto the global stage.

NPCI has two wholly owned subsidiaries – NPCI International Payments Limited (NIPL) and NPCI Bharat BillPay Limited (NBBL), established in pursuance of NPCI Board & RBI approval.

NPCI International Payments Limited

Recognizing the significant growth potential and opportunities in the global market, and considering its own proven ability to deliver easy, affordable, and secure payment services, NPCI established its international subsidiary, NPCI International Payments Limited (NIPL) in April 2020. NIPL is dedicated to facilitating cross-border payments for Indians and also aims to elevate the payment capabilities of other countries by providing technological support, consultancy services, and infrastructure development.

NPCI Bharat BillPay Limited

Established in December 2020, NPCI Bharat Billpay Limited (NBBL), is responsible for driving the RBI-conceptualised Bharat Bill payment system (BBPS). Bharat Billpay is a one-stop ecosystem for payment of all bills providing an interoperable and accessible “Anytime Anywhere” Bill payment service to customers across India with certainty, reliability, and safety of transactions.

Follow them below on their social media channels and read more on their website

We are immensely grateful to NPCI for their generous support.