NPCI launches virtual form of RuPay card

Q.  Name the organisation that launched the virtual form of RuPay debit card?
- Published on 24 Feb 15

a. SBI
d. RBI

National Payments Corporation of India (NPCI) is the nodal agency for all retail payment systems under the Pradhan Mantri Jan Dhan Yojana. The physical plastic RuPay card carries a 16-digit number. Under its virtual form, there will be no need of a physical card and a transaction can be done with the help of this 16-digit number alone. Currently, only around 20 per cent of the total transactions of around 8,000 crore rupees are taking place through IMPS or immediate payment service per month.

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