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RuPay has been launched by
1. National Securities Depository Limited
2. National Payments Corporation of India
3. Central Depository Services Limited
4. Reserve Bank of India

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Correct Answer - Option 2 : National Payments Corporation of India

The correct answer is ​the National Payments Corporation of India.

  • RuPay is the first-of-its-kind Global Card payment network from India, with wide acceptance at Shops, ATMs, and online.
    • It is a highly secure network.
    • The name is derived from the terms "Rupee" and "Payment".
    • RuPay is a product of the National Payments Corporation of India (NPCI).  
    • It was launched in 2012.
    • RuPay cards are issued by more than 1,100 banks which include Public Sector Banks, Private Sector Banks, Regional Rural and Co-Operative Banks.

  • National Payments Corporation of India (NPCI)
    • It is an umbrella organisation for operating retail payments and settlement systems in India.
    • It was created under the provisions of the Payment and Settlement Systems Act, 2007.
    • It is an initiative of the Reserve Bank of India.
    • It is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.
    • Headquarters- Mumbai
    • CEO- Dilip Asbe
    • Non-Executive Chairman- Mr Biswamohan Mahapatra
  • Reserve Bank of India
    • It falls under the jurisdiction of the Ministry of Finance.
    • Functions of RBI include:
      • Issue of Bank Notes
      • Banker to Government i.e. manages the banking needs of the government
      • Represents the Government of India as a member of the IMF and the World Bank.
      • Custodian of Cash Reserves of Commercial Banks
      • Custodian of Country’s Foreign Currency Reserves
      • Lender of Last Resort.
      • Controller of Credit i.e. Managing money supply (Liquidity)
    • General information about RBI
      • Headquarters- Mumbai
      • Governor- Shaktikanta Das 
      • Established on 1 April 1935 in Kolkata.
      • Moved to Mumbai in 1937.
  • Ministry of Finance
    • Union Minister- Smt Nirmala Sitharaman
    • Minister of State- Shri Anurag Singh Thakur

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