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National Payments Corporation of India (NPCI)

Shri Balachandran M. Re-appointed as Chairman of NPCI

Aug 28, 2015   12:19 IST 

Shri. Balachandran M. has been re-appointed as the Non-Executive Chairman of NPCI for a further period of two years.  He had taken charge as Non-Executive Chairman two years back on resignation of our former Chairman, Shri. N R Narayana Murthy. Shri Balachandran M. served as Chairman & Managing Director of Bank of India, Director of IBPS and Nominee Director of RBI to the Board of NPCI, before his appointment as Non-Executive Chairman of NPCI.


During the last two years, NPCI has grown significantly, particularly in RuPay card, Immediate Payment Service (IMPS) and Aadhaar based electronic benefit transfer systems.  Currently, the thrust of NPCI is on making RuPay card accepted internationally, launching Credit Card, building the next generation IMPS with the guidance of Shri. Nandan Nilekani, and Tap & Go.


Shri A P Hota continues to be the Managing Director & CEO of NPCI.


About NPCI

National Payments Corporation of India (NPCI), which has been set up in 2009 as the central infrastructure for various retail payment systems in India, was envisaged by the Reserve Bank of India as the payment utility for all banks in the country. 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 have grown to Cheque Clearing, Immediate Payments Service money transfer (24x7), Automated Clearing House, Electronic Benefit Transfer and a domestic card payment network named ‘RuPay’ to provide an alternative to international card schemes.


Media Contact Details
Manish Kohli
National Payments Corporation of India (NPCI)
Corporate Communications
+91 7506446583
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