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
b. NPCI
c. EPFO
d. RBI

ANSWER: NPCI
 
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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