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The National Payments Corporation of India (NPCI) is an organization that plays a pivotal role in the Indian financial ecosystem. It was established in 2008, with the aim of creating a robust infrastructure for the smoother and more efficient implementation of electronic payments across the country. NPCI operates as a not-for-profit company under the provisions of the Indian Companies Act, 1956.

NPCI operates several retail payment and settlement systems in India, including the Unified Payments Interface (UPI), Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), and Real-Time Gross Settlement (RTGS). These systems facilitate different types of electronic fund transfers, enabling individuals and businesses to make payments and transfers seamlessly.

One of NPCI's most notable contributions to India's financial landscape is the UPI, which revolutionized the way people conduct digital transactions. UPI allows users to link multiple bank accounts to a single mobile application and make instant payments or transfers using unique identifiers like virtual payment addresses (VPAs) or mobile numbers.

NPCI also operates the Bharat Bill Payment System (BBPS), which offers a one-stop solution for payment of utility bills, such as electricity, water, gas, and telecom services, among others.

Overall, NPCI plays a crucial role in advancing financial inclusion, promoting digital payments, and driving India's transition towards a less-cash economy. Its initiatives have contributed significantly to making financial services more accessible and convenient for people across the country.

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