NPCI Full Form: What NPCI Does, Systems It Runs, Complaints

Written by India Customer Care editorial team Facts checked against official sources on 31 Oct 2026 Updated 31 Oct 2026

Independent guide. We are not part of RBI, NPCI or any bank, and we never ask for your account details, PIN or OTP.

NPCI stands for National Payments Corporation of India. It is the not-for-profit company, set up in December 2008 with the support of RBI and the IBA, that runs the systems behind UPI, IMPS, RuPay cards and NACH. It connects banks; it does not hold your money. For any problem, contact your bank or app first.

Full form: National Payments Corporation of India
Set up: December 2008
Set up with: RBI and Indian Banks' Association
Type: Not-for-profit company, owned by banks
Regulated by: RBI, under the PSS Act, 2007
Best known for: UPI, IMPS, RuPay
UPI users: 55.49 crore (June 2026)
Holds your money?: No, your bank does

What is NPCI?

RBI's payment systems vision for 2005–08 called for one body to run India's retail payment systems. NPCI was set up as that "umbrella organisation" in December 2008, with the guidance and support of RBI and the Indian Banks' Association (IBA).

Not for profit: RBI describes NPCI as a "Not for Profit" company.
Owned by banks: the government describes it as owned and operated by the banks.
Watched by RBI: NPCI is authorised by RBI under the Payment and Settlement Systems Act, 2007 (PSS Act). RBI approves its Chairman and MD & CEO, has a director on its board, and supervises it.
Its main job: to act as the switch between banks, plus the clearing and settlement that follows, and to set the rules and technical standards every member bank must follow.

How a payment passes through NPCI

When you pay by UPI or IMPS, or use your card at another bank's ATM, your bank and the other bank never talk directly. NPCI's switch sits in the middle.

Simplified illustration. Each system has its own rules and timings.

Systems NPCI runs

System	What it does for you
UPI	Pay instantly from your phone with a UPI ID, QR code or mobile number.
IMPS	Instant bank transfer, 24×7, using account number and IFSC.
BHIM	NPCI's own UPI app, now run by its subsidiary NBSL.
RuPay	India's own card network for debit, prepaid and credit cards.
NFS	The shared ATM network that lets you use your card at another bank's ATM.
NACH	Bulk payments: salary, pension and subsidy credits, and auto-debits for EMIs, SIPs and bills.
AePS	Withdraw cash or check your balance at a banking agent using your Aadhaar number and fingerprint.
NETC FASTag	NPCI is the central clearing house for FASTag toll payments.
BBPS	Bharat BillPay for electricity, gas, FASTag recharge, credit card and other bills; run by NPCI's subsidiary NBBL.
CTS	Cheque clearing by image, which NPCI operates on behalf of RBI.

Not NPCI: NEFT and RTGS bank transfers are run by RBI itself.

What NPCI does not do

It doesn't hold your money or open accounts. Your money stays with your bank or wallet company.
It can't see or change your bank account, reverse a payment by itself, or reset your UPI PIN. Your bank or app does that.
It doesn't fix complaints directly. NPCI passes UPI complaints to the bank where you hold your account, and that bank must resolve them.
It doesn't decide your limits alone. Your bank sets your own limit within NPCI's overall cap.

NPCI will never call you for your PIN, OTP or card details. Anyone claiming to be "from NPCI" and asking for them is a fraudster. Cheated? Call 1930 or report on the National Cybercrime Reporting Portal, and tell your bank at once.

How to complain about a UPI or other NPCI payment

Illustration only. Screens differ between apps; numbers are samples.

Your app or bank first. Raise the complaint in your UPI app or with your bank. For fraud, go straight to your bank.
NPCI's form (UPI only). NPCI forwards it to your bank, which remains responsible for fixing it. Track it with the CRN.
RBI Ombudsman. If your bank doesn't reply within 30 days or you're unhappy, complain under RB-IOS within 90 days.

Failed payment, money debited? RBI rules say a failed UPI or IMPS payment must be reversed by the next calendar day (T+1); after that your bank pays you ₹100 a day automatically. See the UPI guide.

NPCI's subsidiaries

NIPL

NPCI International Payments Limited, set up in April 2020, takes UPI and RuPay abroad. UPI works in countries such as Singapore, the United Arab Emirates, France, Nepal, Bhutan, Sri Lanka, Mauritius, Qatar and Cambodia.

NBBL

NPCI Bharat BillPay Limited runs BBPS, the Bharat BillPay system for utility bills, FASTag recharge, credit card bills and school fees.

NBSL

NPCI BHIM Services Limited runs the BHIM UPI app.

NPCI's UPI in numbers

Financial year	UPI payments (crore)	Value (₹ lakh crore)
2021–22	4,595.61	84.16
2022–23	8,371.44	139.15
2023–24	13,112.95	199.95
2024–25	18,586.60	260.56
2025–26	24,161.69	314.23

Source: Ministry of Finance reply in Lok Sabha, 20 Jul 2026 (PIB), which also says 55.49 crore users were on UPI in June 2026.

History of NPCI

Dec 2008
NPCI is set up as a not-for-profit umbrella body for retail payments, with RBI and IBA support.
2009
NPCI starts operating by taking over the NFS ATM network from IDRBT.
22 Nov 2010
IMPS is launched for the public.
Apr 2013
RuPay card network becomes operational.
8 May 2014
The President dedicates RuPay to the nation.
11 Apr 2016
NPCI launches UPI.
30 Dec 2016
The Prime Minister launches the BHIM app.
Apr 2020
NPCI International Payments Limited (NIPL) is incorporated.
Jun 2026
55.49 crore UPI users; UPI goes live in Cambodia.

FAQs

What is the full form of NPCI?

National Payments Corporation of India. It runs India's retail payment systems such as UPI, IMPS, RuPay and NACH.

Is NPCI a government company?

It is not a government department. It is a not-for-profit company owned by banks. It was set up in December 2008 with the guidance and support of RBI and the Indian Banks' Association. RBI regulates and supervises it.

Who owns UPI?

UPI is operated by NPCI, which is authorised by RBI under the Payment and Settlement Systems Act, 2007.

Can NPCI refund my failed UPI payment?

Not directly. Your bank reverses failed payments, by the next calendar day under RBI rules. NPCI's complaint form forwards your complaint to your bank, which must resolve it.

Where do I complain if my bank doesn't help?

If your bank doesn't reply within 30 days or you're unhappy with its reply, file a free complaint with the RBI Ombudsman at cms.rbi.org.in within 90 days.

Does NPCI run NEFT and RTGS?

No. NEFT and RTGS are run by RBI. NPCI runs UPI, IMPS, RuPay, NACH, AePS, the NFS ATM network and FASTag clearing, and operates cheque clearing (CTS) for RBI.

Will NPCI ever ask for my UPI PIN or OTP?

No. Never share your PIN or OTP with anyone. If you've been cheated, call 1930 and tell your bank immediately.

Official sources

RBI – Policy Paper on Authorisation of New Retail Payment Systems (21 Jan 2019) (accessed 31 Oct 2026)
RBI – "Excellence in Payments", speech by Deputy Governor B. P. Kanungo (29 May 2018) (accessed 31 Oct 2026)
PIB – National Payments Corporation of India (Lok Sabha reply, 31 Mar 2017) (accessed 31 Oct 2026)
PIB – Nearly 55.49 crore users onboarded on UPI as in June 2026 (20 Jul 2026) (accessed 31 Oct 2026)
PIB – UPI completes 10 years (30 Apr 2026) (accessed 31 Oct 2026)
PIB – President dedicates RuPay to the nation (8 May 2014) (accessed 31 Oct 2026)
PIB – Department of Financial Services Year Ender 2024 (BBPS operated by NBBL) (accessed 31 Oct 2026)
PIB – FASTag based toll collection (22 Jul 2026): NPCI as central clearing house (accessed 31 Oct 2026)
PIB – NPCI International launches UPI in Cambodia (3 Jun 2026) (accessed 31 Oct 2026)
BHIM (NPCI BHIM Services) – About BHIM (accessed 31 Oct 2026)
NPCI – About IMPS (accessed 31 Oct 2026)
NPCI – UPI complaint status (accessed 31 Oct 2026)
RBI – Turn Around Time and compensation for failed transactions (accessed 31 Oct 2026)
RBI – Reserve Bank – Integrated Ombudsman Scheme, 2026 (accessed 31 Oct 2026)