NPCI Forms New Subsidiary to Boost Digital Payments

The National Payments Corporation of India (NPCI) has announced the formation of NPCI BHIM Services Ltd (NBSL) to meet the growing demand for digital transactions. This initiative aims to promote financial inclusion, strengthen India's digital payment ecosystem, and reflect national pride in developing a sovereign payments framework.

The National Payments Corporation of India (NPCI) has announced the creation of NPCI BHIM Services Ltd (NBSL), formerly known as Bharat Interface for Money (BHIM), as a wholly-owned subsidiary.

This strategic move is designed to address the increasing demand for digital transactions and evolving market expectations. By keeping pace with innovation and shifting customer preferences, NPCI aims to promote financial inclusion and strengthen India's digital payments infrastructure.

The formation of NBSL is not just a business decision; it reflects a national pride, underscoring NPCI's commitment to facilitating digital payments and financial inclusivity across India and beyond.

(With inputs from agencies.)